McDonald's Form 10-K 2019 - for the fiscal year ended Dec 31, 2019

Using McDonald's form 10-K 2019 - for the fiscal year ended Dec 31, 2019. Thank you for your help :)

1.   Locate Item 1 and briefly summarize the business the company is engaged in. (McDonald's form 10K 2019)

2.   Locate Item 8 and briefly summarize the information the company provides its users in this section. Be careful using the "Find" feature when answering the remaining requirements. We expect your answers to come from Item 8, and many items are discussed in multiple locations throughout the Form 10-K.

3.   Select FOUR topics from the list of available topics. You may select a maximum of two topics from each category provided. For each topic, review what the company reports in the financial statements and any related note disclosures and provide a thoughtful analysis of what you learned from them. 

a. Basic Intermediate Accounting I Topics (choose only 2 topics for this category)

• Chapter 4: Change in Estimates, Prior Period Adjustments (Correction of Errors)
• Chapter 18: Warranties
• Chapter 7: Factoring of Receivables, Cash Equivalents
• Chapters 8 & 9: LIFO Reserve, Impairment of Inventory: LCM and LCNRV
• Chapter 10: Disposition of Fixed Assets
• Chapter 11: Impairment of Fixed Assets and Depletion
• Chapter 12: Research and Development Costs

b. Advanced Intermediate Accounting I Topics (choose only 2 topics for this category)

• Chapter 4: Discontinued Operations, Change in Principles, Comprehensive Income
• Chapter 18: 5-Step Process for Revenue Recognition, Long-Term Contracts
• Chapter 7: Notes Receivables
• Chapters 8 & 9: Dollar Value LIFO, Retail Inventory Method
• Chapter 10: Self-Constructed Assets, Exchanges of Nonmonetary Assets
• Chapter 12: Goodwill, Impairment of Intangibles

4.   In conclusion, provide a brief summary of your impression of GAAP disclosure requirements based on this project.