Reference no: EM132288404

Principles of Accounting Assignment -

Week 1 - SEC 10K: Request a Corporation

Overview -

1. Read the guidelines below and click the title above to respond to the discussion board.

2. Select a publicly traded U.S. corporation you would like to study this semester and ask the professor for permission by posting a response here.

3. You may search for the name of your company and Investor Relations and look for SEC Filings.

Your corporation must meet the following criteria:

• It must be ranked number 500 or higher on the Fortune 500 list for the current year.
• It must have an SEC 10-K report for the current or most recent prior year.
• It must have an Accounts Receivable and Inventory Account.

Your corporation may NOT:

• Be the same corporation you used for SEC projects in other courses.
• Be the same corporation a classmate selected.
• Be a bank or any other type of financial institution.

Discussion Requirements -

1. Write the name of the corporation, the stock market where it is traded, and its ticker symbol in the Subject line when you respond to this posting and all other postings related to this project.

For example:

• Under Armour; NYSE: UA
• Apple; NASDAQ: APPL
• Exxon Mobile; NYSE: XOM

2. State why you want to study and prepare a financial analysis of your corporation.

3. Provide a direct link to your corporation's SEC 10-K report for the most recent year. A direct link is a hyperlink that takes you directly to a website where the SEC 10-K report is located. For example, this is the direct link to the 2015 SEC 10-K report for Apple, Inc..

The most direct route to finding the direct link is to use the SEC EDGAR System and search by Company name.

An alternative research method to locate the most current SEC 10-K for your company is to search for the name of your company and the words investor relations. You will need to make selections and click links such as SEC filings and may be required to use the drop down SEC filings menu to select annual as the report type.

4. State your corporation's position on the Fortune 500 List for the current year. Your selected company must be ranked number 500 or higher.

5. Provide page numbers for all four required financial statements:

• Income Statement (it could be listed as the Consolidated Statements of Income.)
• Balance Sheet (it could be listed as the Consolidated Balance Sheet or Statement of Financial Position.)
• Statement of Stockholders Equity (it could be listed as the Consolidated Statements of Stockholder's Equity or Consolidated Statements of Stockholder's Deficit.)
• Statement of Cash Flows

Week 2: SEC 10K: Income Statement

Overview -

• Always include the name of your company in the subject line and the link to the SEC 10-K in your posting!
• Answer all of the questions below and do NOT cut and paste from the 10-K.
• Use your own words to answer.

Discussion Requirements -

Read the SEC 10-K for your company to answer the questions below.

Category: Revenue and Net Income

1. What were the corporation's net sales, cost of goods sold, and gross profit?

2. What was the corporate tax rate? This should be an item in the notes to the financial statement. Required disclosure usually explains the federal statutory rate and a reconciliation to the actual tax rate of the company each year.

3. Read the Statement of Comprehensive Income. Notice the first line is the net income from the Income Statement. Accumulated other comprehensive net income (or net loss) is an item in the Statement of Owners' Equity section and in the Balance Sheet. Post the value from the Balance Sheet and comment on whether this item is increasing or decreasing (take care with the concept of change and net income or net loss).

4. What items appear under Other Comprehensive Income (Loss)?

5. What is the account and the amount of the bottom line item on the Statement (or Consolidated Statement) of Comprehensive Income?

Week 3: SEC 10K: Balance Sheet

Overview -

• Always include the name of your company in the subject line and the link to the SEC 10-K in your posting!
• Answer all of the questions below and do NOT cut and paste from the 10-K.
• Use your own words to answer.

Discussion Requirements -

Using the SEC 10-K for your company, answer the questions below:

1. What were total current assets?

2. What were total current liabilities?

3. What were total assets and total stockholders' equity (deficit)?

4. Calculate working capital (current assets - current liabilities = working capital) and describe how it changed from last year.

5. If the company has treasury stock, is it increasing or decreasing in value? Remember that the normal balance for treasury stock is a negative value (debit balance).

6. What is the value for other comprehensive net income (or net loss), accumulated deficit, and/or retained earnings. How are these values changing?

Week 4: SEC 10-K Project: Statement of Stockholders' Equity

Overview -

• Always include the name of your company in the subject line and the link to the SEC 10-K in your posting.
• Answer all of the questions below and do NOT cut and paste from the 10-K.
• Use your own words to answer.

Discussion Requirements -

Using vertical analysis (show your calculations), present the following values for this year and last year:

• gross profit margin
• net profit margin (use the last "net income" line on the statement)
• Comment on changes:

Are sales increasingly profitable?

How are gross profit and net income changing, as dollar values?

Week 5: SEC 10K Project: Statement of Cash Flows

Overview -

1. Always include the name of your company in the subject line and the link to the SEC 10-K in your posting.

2. Answer all of the questions below and do NOT cut and paste from the 10-K.

3. Use your own words to answer.

Discussion Requirements -

Review the Statement of Cash Flows for your chosen company and provide a brief description of what you discover for each of the items listed below.

Category: Operating Activities

1. Net income versus total for operating activities: Report these values.

2. What are the items of significance between net income and total for operating activities?

3. Is the business providing cash flow from operations?

Category: Investing and Financing Activities

1. Describe significant long-term assets (type and amount) purchased, sold, or retired during the current period as well as last year.

2. Describe significant financing activities used by the corporation to increase cash (or other assets): These would be related to long-term liabilities and stockholders' equity.

Category: Analysis

1. Overall Cash Flow (total of three sections): Compare this year to last year.

Week 6: Peer Review of SEC 10K Project

Overview -

Participating in the peer review process serves four purposes:

1. Each student has an opportunity to learn about another corporation.

2. Providing detailed and constructive feedback results in higher grades for all students.

3. Seeing how other students approached the project may provide insight for you to improve your project.

4. At your discretion, you have the opportunity to edit your project before submitting it for a grade.

Discussion Requirements

1. To participate in the SEC 10-K peer review process, post a draft of your PowerPoint file as a response to this discussion topic.

2. Ask for and provide detailed and constructive feedback to at least two of your classmates who does not yet have any comments. The goal is to have all students receive comments on their work.

3. You may provide additional comments to other students after your first comment.

Use JP Morgan SEC - 10k report and Sherwin-Williams SEC 10-K Report, Sherwin-Williams. Work should be written in your own word.

Report Layout -

1. Write a 2- to 3-page (a  full page typically has at least 300 words) report, single spaced, one-inch margins, 12-point font, with a double space between paragraphs.

2. Please keep your report to no more than 3 pages.

3. Page count does not include title page, tables and exhibits, table of contents, and reference list.

4. Include a title page (include your name on the title page). Use headings in your report such as Statement of Owners' Equity and Statement of Cash Flows (topics from the textbook); other examples would be Balance Sheet and Income Statement.

5. Include a brief introduction of your company as well as a conclusion/summary at the end. The bulk of your report should cover the accounting topics in Weeks 1 and 2 (Owners' Equity, Financial Ratios and Statement of Cash Flows) as well as the Balance Sheet and Income Statement. ACCT 221 is not identical to ACCT 220. Discussions continue through week 5.

6. You will also be required to include the Income Statement, Balance Sheet, Statement of Owners' Equity, and Statement of Cash Flows as attachments to your report. You can cut and paste directly from the SEC 10-K Report. These are considered attachments and are not part of the required page count for the report.

7. APA style is required for citations and a reference list. Include in text citations. The reference list is the most important.

8. Your report should use one-inch margins on the left, right, top, and bottom of each page, and font set at 12 point.

Attachment:- Assignment Files.rar