ACCT 302 Group Project
Target Data Breach: Accounting for Contingent Liabilities
Due Date: May 10, 2021 (Submit via iLearn)
Written Project Guidelines:
This project accounts for 10% of your course grade.
Work in group of 5 people; write a 3~4 page report to address all of the following questions.
Your report has to be typed. All text should be 12-point font, double spaced.
Your report is expected to be grammatically correct and use proper citing and referencing.
Required:
Write a report to describe what happened to Target and address all of the following questions.
(1) Managers are bound by GAAP and securities regulations to inform the investing public about
an adverse event affecting the company. In this case, how did Target’s managers communicate
the adverse news and provide the relevant information about the data breach to customers and
shareholders through their 10-K filed on March 14, 2014?
(2) Read the description of the data breach in their MD&A section carefully. What potential
future costs related to the data breach did Target face?
(3) Discuss and explain how Target followed GAAP to identify, treat, and report loss
contingencies pertaining this data breach in their 10-K filed on March 14, 2014.
Grading Policy:
Your response will be graded for both technical content and writing skills. Technical content will
be evaluated for information that is helpful to the intended reader and clearly relevant to the issue.
Writing skills will be evaluated for development, organization, and the appropriate expression of
ideas in a professional manner.
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