he financial statements of P&G are presented in Appendix B. The Company’s complete annual report, including the notes to the financial statements, is available at P&G Annual Reports. Refer to P&G’s financial statements and the accompanying notes and answer the following questions:
What method does P&G use to translate cash flows from foreign currency transactions?
As of June 30, 2017, what balances did P&G have in cash and cash equivalents? What were the major uses of cash during the year?
P&G reports no allowance for doubtful accounts, suggesting that bad debt expense is not material for this company. Is it reasonable that a company like P&G would not have the material bad debt expense? Explain.
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