What are selective property taxes? Discuss the advantages and disadvantages of property tax legislation as it is currently applied in the U.S. to businesses and governments.© BrainMass Inc. brainmass.com October 25, 2018, 7:32 am ad1c9bdddf
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Selective property taxes are property taxes that are placed on real property. Real property is property that is tangible and owned by us - our homes, the land that our homes are on, land that we own which is undeveloped, and buildings of any type that we own. All ...
This solution explains selective property taxes, and the advantages and disadvantages of property tax legislation as it is currently applied in the U.S. to businesses and governments.
Long Term Debt, Contingencies and Leases
See the attachment.
Discuss trends, financial position, ratios, etc. For example, it may be helpful to discuss inventory turnover when assessing inventory valuation risk.
Obtain the 2010 financial statements and notes (annual report or 10-K) for Monro Muffler Brake, Inc. (MNRO). Use Tenneco for a benchmark and comparison purposes. This means ratios must be completed for both companies (but a description of the company only needs to be done for Monro).
To assess a company's financial statements, think specifically about: (1) the types of underlying transactions and events that affect the company, (2) how well the financial accounting rules (i.e., GAAP) reflect those transactions and events, (3) the aggressiveness or conservatism of management's accounting choices, and (4) how the annual report helps you assess the company's risks, financial position, and profitability.
For each item below, provide an easy to read and understandable presentation of the facts for your company. There should be a brief description of the items (Monro) and computational analysis (ratios).
LONG-TERM DEBT, CONTINGENCIES AND LEASES:
? Description of long-term debt
? Major leasing activities (if any) and types of leases involved
? Business reasons for, and importance of leasing activities
? Other significant liabilities disclosed for contingencies, warranties or commitments and their importance
Things to consider: Description of debts, Debt Percentage, Operating leases vs Capital leases, Present Value of bonds and leases, etc.
Link for Munro 10K:
Link for Tenneco 10K: