Financial Planning Papers

  • Harnischfeger Corporation

    364 words, 2 pages

    Accounting policy changes that Harnischfeger had made during 1984 and the effect of these on the company’s 1984 reported profits 1) From Financial Note 2, we know that, in 1984, the corporation had computed depreciation expenses on plants, machinery and equipment using straight-line method for financial reporting purpose. Prior to 1984, the corporation used principally accelerated methods for its U.S operating plants. The cumulative effect of this change, which was applied retroactively to all assets previously subjected to accelerated depreciation, increased net income for 1984 by $11.

    View Document »

Research help is just moments away!