Topic: Information from cash flow activities Fedex
Locate the most recent financial statements and related disclosure notes of FedEx Corporation. You can locate the report online at www.fedex.com or by accessing EDGAR at www.sec.gov
Requirement 1:
From the information provided in the statement of cash flows, explain while at the same time not raising as much cash through financial activities.
Requirement 2:
Describe the activities listed under financing activities for the most recent fiscal year. Hint: FedEx’s Statement of Changes in Common Stockholders’ Investment (statement of shareholders’ equity) will help you determine the nature of the stock activity. What is the most notable financing activity reported?
Requirement 3:
What are the cash payments FedEx made for interest and for income taxes in the three years reported? Hint: See disclosure Notes
Requirement 4:
Obtain the relevant authoritative literature on disclosure of interest and income taxes using the FASB’s Codification Research System. You might gain access at the FASB website (www.fasb.org). What is the specific citation that specifies the way FedEx reports interest and income taxes separately that enable you to answer requirement 3?
Under Requirement 2 prepare financial statements that explains that financial activities. Under Requirement 3 prepare a disclosure note that details the cash paid for interest expense and income taxes
