1. Business
2. Accounting
3. Financial Accounting & Bookkeeping
4. Accounting Standards
5. Basic Generally Accepted Accounting Principles (GAAP)
6. The Revenue Recognition Principle
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The Sherwin-Williams Company (Sherwin-Williams; ticker symbol SHW) was founded in 1866. The company develops, manufactures, distributes and sells paints, coatings, and related products to professional, industrial, commercial and retail customers. The Company is organized into three segments - Paint Stores Group, Consumer Group and Global Finishes Group.

1. FSA consists of three key steps. What are they?

2. Read Sherwin-Williams' "Summary" section in its "Management Discussion and Analysis" (pg. 14-15). What does the company's management say about how Sherwin-Williams has been affected by the economic downturn? Make note of at least three distinct items. (3 points)

3. Before looking at Sherwin-Williams' financial statements explain how you might expect the items you identified above to impact the company's balance sheet and/or income statement.

Q2. Financial Statement Overview

Q3. Revenue Recognition

Q4. Inventory Analysis

Q5. Goodwill