For best results on financial statements go to the EDGAR website. You will search for a public company to use for your report. This could be a company you are interested in, work for, or want to know more about. Once the company you have searched for appears, go to the latest year and open the 10-K document, which is the annual report.
Note: the company has to be public or the search will turn up blank. You must use a public company.
Balance sheet Items:
What kind of assets do they own?
Does the company rent, own, or lease its building?
What kind of long-term debt do they have?
Perform different balance sheet tests such as fixed asset turnover ratios, return on asset ratio, the impact of intangible assets, receivable turnover, working capital, the average age of receivables, inventory turnover (if they sell goods). Explain what each of these means for the company.
Income Statement:
What is the gross margin?
What is R&D to sales?
(ROE) return on equity
Asset turnover
Return on assets
Working capital per dollar of sales
Receivable turnover
Inventory turnover
You will notice that some of these testings are the same from the balance sheet to the income statement. If you do a test you should see the same results between the balance sheet and income statement.
Financial Disclosure Notes:
In the notes, you should see what kind of inventory method the company uses (FIFO or LIFO). Report on what inventory methods are used and how this contributes to the inventory valuation. Does using LIFO increase or decrease the value of inventory and the same for FIFO. Have the products purchased increase or decreased cost of goods sold over the years?
Revenue Recognition
Explain how the company records revenue in accordance with GAAP.
Pension and Post Retirement Medical Benefits Plan
Explain how much they invested in Pension and Post Retirement Medical Benefits Plan. During your review of the company’s report add something you find interesting disclosed in the notes such as, did EPS increase or decrease, did they buy out another company or anything in the notes you feel should be mentioned in your presentation.
Grading Criteria
A clear articulation of the applied practices and principles as listed above. (25 points)
The presentation is within the time limit frame of 8-10 minutes.
The depth of your research as evidenced by your descriptive analysis of how the company operates. (25 points)
Evidence of your understanding of the financial information.
Is the company improving each year or not and why?
What you would do differently if you were the owner?
Explain the improvements you would make such as automation, outsourcing, or other means.
Visual aid support such as graphs or charts with written documentation. (25 points)
Clarity and logical flow in the written supporting documentation. (25 points)
Free of grammatical errors, typos, and misspellings.
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