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Smith Manufacturing, Inc. has asked for your assistance in preparing a budget for next year’s operations. Take a few moments to consider where you would begin the budgeting process. What types of information do you need? Prepare a letter addressed to John Jones, CFO of Smith Manufacturing. In this letter be sure to request the information that is needed to begin the budgeting process. Also, provide an outline of how the budgeting process flows.

The notes to the financial statements are an integral part of a company’s annual report. Users of financial information need to understand the notes to accurately analyze a company. Harmonization does not exist on information included and calculations released in footnote disclosures. Below is a footnote disclosure from AT&T’s 2007 Annual Report regarding foreign currency translation. The footnote below follows U.S. GAAP.

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Using feedback from your professor and classmates, revise Part 1 and develop the solution and identify the advantages of the solution. Note: The disadvantages or challenges with your answers will be in Part 3.

Review the case titled: “ U.S. v. AOL” found in chapter thirteen (13) of the textbook. Then, refer to the report titled  “ Investigations Involving the Internet and Computer Networks” dated January 2007 by the Department of Justice located at https://www.ncjrs.gov/pdffiles1/nij/210798.pdf.