I need to complete a SEC 10k paper for the company Verizon communication. I have attached a paper that is similar to the one I need. It is on Disney. Mine has to be on Verizon. I have also put the rubric below. I have to attach the financial documents as well, but I will do that myself.

Rubric Name: SEC 10-K Paper

5 points Selected a corporation based on required criteria and located its SEC 10K report and followed instructions regarding length, spacing, attachments, APA formatting, etc.	4 points Followed most of the instructions regarding selecting a corporation based on required criteria and locating its SEC 10K report and following instructions regarding length, spacing, attachments, APA formatting, etc.	3 points Followed some of the instructions regarding selecting a corporation based on required criteria and locating its SEC 10K report and following instructions regarding length, spacing, attachments, APA formatting, etc.c.	1 point Overall, did not follow most of the instructions regarding selecting a corporation based on required criteria and locating its SEC 10K report and following instructions regarding length, spacing, attachments, APA formatting, etc.
20 points Clearly indicated knowledge of corporation's financial statements. Paper included accurate data, cogent arguments, and accounting terminology.	19 points Did a good job of indicating knowledge of corporation's financial statements. For the most, paper included accurate data, cogent arguments, and accounting terminology.	16 points Did a fairly good job of indicating knowledge of corporation's financial statements. Paper included mostly accurate data, cogent arguments, and accounting terminology, although there were some errors in applying concepts from the course to the financial statements.	10 points Did not demostrate knowledge of corporation's financial statements. Overall, paper did include accurate data, cogent arguments, and accounting terminology.
20 points Paper included in-depth and relevant analysis and explanations, rather than simply restating dataprovided in the financial statements (stating the obvious).	19 points Paper included some analysis and explanations, rather than simply restating dataprovided in the financial statements (stating the obvious).	16 points Paper included very limited analysis, or provided some faulty analysis. Some explanations were provided regarding the data.	10 points Paper included no analysis and/or explanations, and simply restates data provided in the financial statements (stating the obvious).
10 points Referenced only information relevant to ACCT 221 topics	9 points Referenced mostly information relevant to ACCT 221 topics	8 points Referenced some information relevant to ACCT 221 topics but included a fair degree of off-topic material.	5 points Most information was off-topic with little relevance to ACCT221 topics.
10 points Written in English using correct grammar, spelling, and punctuation. Business writing was correct, clear, and concise, with no use of slang or informal writing styles. .	9 points Written in English using mostly correct grammar, spelling, and punctuation. Business writing was correct, clear, and concise, with no use of slang or informal writing styles.	8 points Written in English but contained some grammar, spelling, and punctuation issues. Business writing was mostly correct, clear, and concise, with limited use of slang or informal writing styles.	7 points Contained numerous grammar, spelling, and punctuation issues. Writing was not correct, clear, and concise,and contained use of slang and/or informal writing styles.
5 points Included a complete list of references that were cited in paper, in proper APA format	4 points Included list of references that were cited in paper. Reference list was either incomplete or had some minor deviations from APA formatting	3 points Included list of references that were cited in paper. . Reference list had major deviations from APA formatting	0 points A reference list was not included.
5 points Provided in-text citations where appropriate, throughout paper, in proper APA format.	4 points Provided some in-text citations throughout paper, in proper APA format, or with only minor deviations from APA. .	3 points Provided limited in-text citations that were not in APA format.	0 points Did not include in-text citations.
5 points Assignment was submitted in advance of the date due.	4 points Assignment was submitted on the day it was due.	3 points Assigment was submitted late but extension was requested and granted prioer to due date.	0 points Assignment was not submitted on time.
5 points Logical, easy to follow, and included transitions between paragraphs, paragraphs contained information relevant to topic header	4 points Fairly logical, and easy to follow, and included transitions between paragraphs, paragraphs contained information mostly relevant to topic header	3 points Not always logical, and/or easy to follow. Included transitions between paragraphs, paragraphs contained information mostly relevant to topic header	1 point Not always logical, difficult to follow. Topic headers were not included and/or paragraphs contained information that was not relevant to topic header
5 points Provided a logical conclusion/summmary based on information contained in the body of the paper.	4 points Provided a conclusion/summmary. Conclusion either introduced some new information or conclusions were drawn that were not supported by the information presented in the paper.	3 points Provided a conclusion/summmary. However, the information contained no conclusion or summary of the information that was presented in the paper.	0 points No conlcusion or summary was presented.
10 points Paper submitted through TurnitIn with 20% or less similarity. Direct quotations were used appropriately and sparingly.	9 points Paper submitted through TurnitIn with 30% or less similarity. Direct quotations were used appropriately and sparingly.	8 points Paper submitted through TurnitIn with 30% or less similarity. Direct quotations were used unnecessarily.	0 points Paper was submitted to TurnitIn with more that 30% similarity.

Running head: WALT DISNEY COMPANY ANALYSIS Walt Disney Company Analysis Jenna Baker Accounting 221 1 WALT DISNEY COMPANY ANALYSIS 2 Walt Disney Company Analysis Introduction Indeed, Walt Disney is a global entertainment company that has operations diversified in five major business segments. These includes Media Networks, Parks and Resorts, consumer products, studio entertainment and interactive. The mission of Walt Disney Company is to become the global leader and provision of entertainment and information (thewaltdisneycompany.com). The company seeks to develop the most innovative, creative and profitable entrainment and its related products across the world. In this analysis, the focus will be analyzing the financial statements of Walt Disney Company. Based on the concepts leant, a detailed exploration of the information presented in Walt Disney financial report will be examined. These include the financial and non-financial data presented as well as a cash flow analysis of the firm. Comments on the Financial Statements In view of the financial statements of Walt Disney, the company prepares consolidated financial statements. According to IFRS 10, consolidated financial statements are financial reports that aggregate the assets, liabilities, stakeholder's equity, income, expenses and cash flows of an entity with its major subsidiaries to report as a single economic entity (iasplus.com). Walt Disney prepares a consolidated financial statements based on its different operation segments across the world. Basically, Walt Disney evaluates the performance of its operational segments on the basis of segment operating income. The main reason behind the use of operating income to measure the performance of the segments is that it enables investors to evaluate changes of the operation results relating to the company portfolio and separate it from other factors that could be affecting net income. Due to growth in domestic operations, Walt Disney recorded a 14 percent increase in operating income in 2015 (SEC 10K, p.34). During the year, Walt Disney made a total of $8,322 million comprehensive income which was a rise in operational results from the year 2014 when the operation income was $7,187 million (SEC 10K, p.64). Out of the incomes of 2015, $7,929 million was attributable to Walt Disney Company while $470 was attributable to the non-controlling interests. Generally, Disney Walt company and its segments allocates costs relating to information technology, pension, legal and other shared services on metrics that correlates with consumption. The cost allocations are agreed upon between the businesses on an arm's length transactions. Also, all intersegment transactions are eliminated when preparing the financial statements. It should be noted that intersegment transactions are those activities leading to the transfer of resources whether money or otherwise among the segments of the business. Another point worth noting from the financial statements of Walt Disney Company is that the company prepares its financial statements using the guidelines provided by generally accepted accounting principles. Ideally, generally accepting principles are rules which dictate how financial reports should be prepared to enhance reliability and relevance to the users. According to the financial reports of Walt Disney, all accounting estimates and assumptions WALT DISNEY COMPANY ANALYSIS 3 adheres to the generally accepted accounting principles. In addition, Walt Disney Company applies the matching principle to recognize revenues and prepare the financial statements. Matching principle is an accounting concept that requires revenues and its related expenses to be recognized in the same period (accountingtools.com). That, it revenues must recognized when services are rendered and it's probable that receipts will be made. In this regard, Walt Disney recognizes its advertising revenues when commercials are aired (SEC 10K, p. 73). Revenues from the company subscription services such as cable programming services are recognized when the services have been provided. Also revenues on branded mobile and online operations are recognized when the services are rendered, Cash flow Analysis The statement of cash flows is used to show cash sources and uses during the accounting period. It shows all the cash inflows and cash outflows of the organization for the given period of time (Loughran, n.d). The statement is comprised of three main sections representing the main activities that constitute the firm operations. These include cash flows from operating activities, cash flows from investing and cash flows from financing activities. Operating activities Operating cash flow activities includes all revenue, expense, gains and losses and other related costs of the organization. Ideally, cash flows from operating activities form the main source of cash for Walt Disney Company. During the year 2015, Walt Disney operating activities provided a total of $10,909 million which was a significant increase from the previous year's cash flows of $9,780 million (SEC 10K, p.74). For all the previous year's beginning the year 2011, cash flows from operating activities recorded an increase. An increase in cash flow from operating activities indicates enhanced operations of Walt Disney which shows that the company was effectively utilizing its assets to generate cash. Investing Activities Investing activities shows the sources and uses of cash relating to debt and equity purchases, purchases of property, plant and equipment as well as collection of principal on debt. Indeed, Walt Disney recorded a negative cash flow from investing activities for all the years since 2011. In 2015, the company had a net cash outflow of $4,245 million which was a significant increase from the previous year's $3,345 million. The negative cash flow means a decline in cash generating form all the investment activities of the firm. The negative cash flow is not favorable for the firm since it may lead to liquidity constraints. However, this may signify an increase in the level of the firm investments which may provide more incomes and cash flows in future. Financing Activities Financing activities cash flow is used to record cash inflows and outflows resulting from a firm financing agreements such as securing or payment of loans, payments of dividends and sale of company stock. In relation to the financial statements of Walt Disney, the company recorded a negative cash flow in all the years. In the year 2015, the company recorded a cash outflow from the financing activities of $ 5,514 million which was a slight reduction from the previous year 2015 when the cash outflow from financing activities was $ 6,710 million. The WALT DISNEY COMPANY ANALYSIS 4 negative cash flow from financing activities may imply that the company incurs huge costs in repayments of debts, dividends commensurate with less borrowing. In my view, this is not healthy for Walt Disney Company since it may lead to liquidity challenges at the organization. Conclusion To summarize, the analysis has provided a critical overview of Walt Disney financial statements. In relation to the analysis, Walt Disney prepares consolidated financial statements for its main operation segments. Also, the company uses matching principle to recognize revenues which relates to the generally accepted accounting principles. All intersegment transactions are eliminated when preparing financial statements. According to the cash flow analysis, Walt Disney has a positive cash flow from is operating activities but a negative cash flow from investing and financing activities. WALT DISNEY COMPANY ANALYSIS 5 Exhibits CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share data) 2015 Revenues: Services $ Products Total revenues Costs and expenses: Cost of services (exclusive of depreciation and amortization) Cost of products (exclusive of depreciation and amortization) Selling, general, administrative and other Depreciation and amortization Total costs and expenses Restructuring and impairment charges Other expense, net Interest income/(expense), net Equity in the income of investees Income before income taxes Income taxes Net income Less: Net income attributable to noncontrolling interests Net income attributable to The Walt Disney $ Company (Disney) Earnings per share attributable to Disney: Diluted Basic $ 40,246 8,567 48,813 2013 $ 37,280 7,761 45,041 (23,191) (21,356) (20,090) (5,173) (5,064) (4,944) (8,523) (2,354) (39,241) (53) (117) 814 13,868 (5,016) 8,852 (8,565) (2,288) (37,273) (140) (31) 23 854 12,246 (4,242) 8,004 (8,365) (2,192) (35,591) (214) (69) (235) 688 9,620 (2,984) 6,636 (470) (503) (500) 8,382 $ 7,501 $ 6,136 $ 4.90 $ 4.26 $ 3.38 $ 4.95 $ 4.31 $ 3.42 Weighted average number of common and common equivalent shares outstanding: Diluted 1,709 $ 1,759 1,813 1,694 Basic Dividends declared per share 43,894 8,571 52,465 2014 1,740 1,792 1.81 $ 0.86 $ 0.75 WALT DISNEY COMPANY ANALYSIS 6 CONSOLIDATED BALANCE SHEETS (in millions, except per share data) October 3, 2015 ASSETS Current assets Cash and cash equivalents Receivables Inventories Television costs and advances Deferred income taxes Other current assets Total current assets Film and television costs Investments Parks, resorts and other property Attractions, buildings and equipment Accumulated depreciation $ Projects in progress Land Intangible assets, net Goodwill Other assets Total assets LIABILITIES AND EQUITY Current liabilities Accounts payable and other accrued liabilities Current portion of borrowings Unearned royalties and other advances Total current liabilities Borrowings Deferred income taxes Other long-term liabilities Commitments and contingencies (Note 14) Equity Preferred stock, $.01 par value Authorized - 100 million shares, Issued - none Common stock, $.01 par value Authorized - 4.6 billion shares, Issued - 2.8 billion shares Retained earnings Accumulated other comprehensive loss $ $ 4,269 8,019 1,571 1,170 767 962 16,758 6,183 2,643 42,745 (24,844) 17,901 6,028 1,250 25,179 7,172 27,826 2,421 88,182 7,844 4,563 3,927 16,334 12,773 4,051 6,369 35,122 59,028 (2,421) 91,729 September 27, 2014 $ $ $ 3,421 7,822 1,574 1,061 497 794 15,169 5,325 2,696 42,263 (23,722) 18,541 3,553 1,238 23,332 7,434 27,881 2,304 84,141 7,595 2,164 3,533 13,292 12,631 4,098 5,942 34,301 53,734 (1,968) 86,067 WALT DISNEY COMPANY ANALYSIS Treasury stock, at cost, 1.2 billion shares at October 3, 2015 and 1.1 billion shares at September 27, 2014 Total Disney Shareholders' equity Noncontrolling interests Total equity Total liabilities and equity 7 $ (47,204) 44,525 4,130 48,655 88,182 $ (41,109) 44,958 3,220 48,178 84,141 WALT DISNEY COMPANY ANALYSIS 8 CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) 201 4 2015 201 3 OPERATING ACTIVITIES Net income 8,8 52 $ 2,35 4 Depreciation and amortization Gains on sales of investments and dispositions (91) Deferred income taxes (102) Equity in the income of investees (814) Cash distributions received from equity investees 752 Net change in film and television costs and advances (922) Equity-based compensation 410 Other 341 Changes in operating assets and liabilities: Receivables (211) Inventories 1 Other assets 34 Accounts payable and other accrued liabilities (49) $ 8,00 4 6,63 $ 6 2,28 8 2,19 2 (299) (325) 517 92 (854) (688) 718 694 (964) (49) 408 402 234 395 (480) (374) (81) (151) 536 51 (30) 367 WALT DISNEY COMPANY ANALYSIS Income taxes Cash provided by operations 354 10,9 09 9 (96) 9,78 0 89 9,45 2 (3,3 11) (2,7 96) 395 (402) 479 (2,4 43) (27) (3,3 45) 84 (4,6 76) 2,37 6 2,55 0 (2,2 21) (3,0 63) (6,0 95) 50 2,23 1 (1,6 48) (1,5 08) (6,5 27) (2,0 50) 3,93 1 (1,5 02) (1,3 24) (4,0 87) 329 404 587 1,01 2 608 505 (402) (320) (274) INVESTING ACTIVITIES Investments in parks, resorts and (4,2 other property 65) Sales of investments/proceed s from dispositions 166 Acquisitions Other (146) Cash used in (4,2 investing activities 45) FINANCING ACTIVITIES Commercial paper borrowings/ (repayments), net Borrowings Reduction of borrowings Dividends Repurchases of common stock Proceeds from exercise of stock options Contributions from noncontrolling interest holders Other WALT DISNEY COMPANY ANALYSIS Cash used in financing activities Impact of exchange rates on cash and cash equivalents (5,5 14) (6,7 10) (4,2 14) (302) (235) (18) (510) 544 3,93 1 3,38 7 Change in cash and cash equivalents 848 Cash and cash equivalents, beginning 3,42 of year 1 Cash and cash 4,2 equivalents, end of year $ 69 Supplemental disclosure of cash flow information: Interest paid 10 $ 314 $ 4,3 96 Income taxes paid $ 3,42 1 3,93 $ 1 $ 310 $ 316 $ 3,48 3 2,53 $ 1 References About The Walt Disney Company. Retrieved from: https://thewaltdisneycompany.com/about/ IFRS 10 Consolidated Financial Statements. Retrieved from: http://www.iasplus.com/en/standards/ifrs/ifrs10 Loughran, M. (n.d). The Elements of the Statement of Cash Flows. Retrieved from: http://www.dummies.com/how-to/content/the-elements-of-the-statement-of-cashflows.html WALT DISNEY COMPANY ANALYSIS The Matching Principle. Retrieved from: http://www.accountingtools.com/matching-principle Walt Disney Co. (2015). Form 10-K. Retrieved from SEC EDGAR website http://www.sec.gov/edgar.shtml 11