Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Find the most recently available audited financial statements for any publicly traded Canadian company. The company must have readily available (public) financial information. The company

Find the most recently available audited financial statements for any publicly traded Canadian company. The company must have readily available (public) financial information. The company that you choose should have at least two years worth of financial data available for this assignment.

NOTE: Each student must select a unique company FIRST COME, FIRST SERVE. The company you select will be used for a future class assignment (so save the financial information!).

When you have selected a company, enter your selection in FOL. See the Experiential Assignment #1 Module/Company Selection and click on the link to the Google Doc (tracking is on). Remember FIRST COME, FIRST SERVE.

Once you have obtained the audited financial statements of your chosen company, focus on the following areas:

  1. Statement of Financial Position (Balance Sheet)
    1. Cash
    2. Receivables
    3. Inventory
  2. Income Statement
    1. Revenue
  3. Notes to the Financial Statements (for above items)

REQUIRED

In a word document, prepare a report that would include the following items:

  1. By reviewing the annual report and audited financial statements, and through research, prepare a brief overview of the company (2-3 paragraphs).
    1. Suggestions, but not limited to: What does the company do? Where is the corporate headquarters? Who is on the management team? Number of employees? Number of locations? When did the company begin? Why did you chose the company? Significant events? Significant discoveries? Any other interesting items that you feel you should include about the company.
  2. Report the year-over-year dollar amounts for the above mentioned items (present in chart format).
    1. You should also expand and include all details of the dollar amounts presented in the financial statements. The details are presented throughout the audited financial statements. As an example: does inventory include consignments? For accounts receivable, what is the allowance for doubtful accounts? (present in chart format).
  3. Review the notes to the financial statements. Analyze and then summarize the significant accounting policies that have been established as described in the notes to the financial statements for each of the above items. (3-4 paragraphs).
  4. Is there any information that seems to be a concern to you? Why or why not? Analyze and comment on the comparative financial information. (2-3 paragraphs).
    1. Include any appropriate ratios (presented at the end of each chapter). Consider the relationship between revenue and accounts receivable. Between revenue and inventory. Any other relationships to consider? Were there large variances year-over-year? Any indication of why the large variance occurred? Consider a comparison to another company in a similar industry.
  5. What is your opinion about the significant accounting policies and procedures presented? How do the significant accounting policies presented in the notes to the financial statements compare to the disclosure topics discussed in the textbook? (2-3 paragraphs).
  6. Conclusion and wrap up. (1 paragraph).

I don't know where to start this assignment. Tell me in detail in what order and how to do the assignment. ex.) How to select a company, how to find the company's financial statements and the order in which to write the analysis report on the financial statements.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For MBAs

Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally

3rd Edition

0978727932, 978-0978727932

More Books

Students also viewed these Accounting questions