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I'm currently working on SEC 10-K Project for Boeing Corporation. Could you please assist me with this project? Please see attached file for 10-K sample
I'm currently working on SEC 10-K Project for Boeing Corporation. Could you please assist me with this project? Please see attached file for 10-K sample and 10-K instruction. If you have any questions or concerns please feel free to contact me. Thank you and have a nice day, Prof.
Account 220 Boeing Company SEC 10-K Analysis Introduction (Could you please assist me with this paragraph) Inventory Methods (Could you please assist me with this paragraph) Accounting Receivable (Could you please assist me with this paragraph) Deprecation Method (Could you please assist me with this paragraph) Method of Recording Intangible Assets (Could you please assist me with this paragraph) Disclosure of Contingent Liabilities (Could you please assist me with this paragraph) Reference https://www.sec.gov/Archives/edgar/data/12927/000001292717000006/a201612dec3110k.htm#sF090 88B5F65D5C409252AAD5E8877072 SEC 10-K PAPER (Due in Week 6) Your SEC 10-K Paper must include the following: 1. Name of the company 2. A brief description of your company (what do they make, where are there headquarters, in what state are they chartered, etc.) 3. The Fiscal year of the company 4. The name of the outside Auditors 5. Inventory methods: Your Company is using FIFO, LIFO, AVERAGE-COST, or any other method. 6. Account Receivables and method of providing for Uncollectible Accounts. Your company is using Direct Write-off Method or Allowance Method. 7. Depreciation methods: Your Company is using Straight-Line Method, Units-ofActivity Method, Declining- Balance Method, or any other Method. 8. Intangible Assets: Goodwill, Patents, Copyrights, Trademarks, Trade Names, or any other intangible asset. 9. Contingent Liabilities: For pending legal-suits, Product Warranties etc. 10. Any other important note/accounting practice/policy. 11. References/citations Your works cited list should include the web address for your SEC 10-K so your professor can access it as you did. Your works cited list should also include our textbook. Any other resources should be cited in text using APA style. We use APA style for in text citations and for the works cited list. Other Relevant Information Use your own words. Do not copy and paste material. If you copy and paste any financial statements or areas from the SEC 10-K this will not count toward the page length requirement. Take care to avoid issues of academic dishonesty. Your works cited list should include our textbook. Any other sources should be cited in text using APA style. The paper should be ONE to TWO pages in length, single spaced, with one inch margins on all sides. Use 'headers' for sections such as Inventory, Accounts Receivable, Depreciation, Intangible Assets and Contingent Liabilities. You may have other sections as well. Leave double space between paragraphs. The paper is your opportunity to use accounting terms and concepts from our class and relate them to a company of interest to you. Do not discuss the concept of the statement of cash flows (this is part of ACCT 221). Limit your paper to topics from our class. The first page of the SEC 10-K document is very helpful. The financial statements are generally in section 8 of the SEC 10-K. Following the official financial statements you will find the Notes to the Financial Statements. This is the location of details on bad debts, inventory, depreciation, Intangibles, and Contingent Liabilities. You can 'search' the SEC 10-K. Most students save the pdf file to their desk top for reference. NOTE: A sample of the SEC 10-K Paper is posted in the Course Content area. Account 220 Ford Motor Company SEC 10-K Analysis Ford Motor Company is a worldwide leading producer and manufacturer of vehicles which is currently based out to Detroit Michigan. Ford Motor Company was incorporated in Delaware in 1919. Ford Motor Company is divided into several business units. These business units include the Lincoln automotive brand, Ford North America, Ford Europe, Ford Asia Pacific Africa, Ford South America, and Ford Motor Credit Company, LLC, which is a wholly owned, in house, vehicle financing subsidiary. Ford's fiscal year runs concurrent with the calendar year, 1 January to 31 December. Ford Motor Company's outside independent registered public accounting firm is PricewaterhouseCoopers, LLP. The SEC-10K filing information provided in this summary is from the fiscal year end 2012, dated 18 February 18, 2013. Inventory Methods In Fords 2012 SEC-10K Note.10 (inventories) section the company states that all inventories are stated at the lower cost of the market. In 2012 and 2011 the LIFO method accounted for 18% and 17%, respectively, of the inventory. FIFO was the predominately utilized accounting inventory method. Ford Motor Company recognizes vehicle sale revenue (revenue recognition) upon delivery of the vehicle to the customer, which are the dealerships and distributors. On page 62 of the 2013 SEC 10-K filing, Ford claims that their inventories are lean because their vehicles are made to order. Ford utilizes to the Just in Time (JIT) inventory methods to achieve a low standing inventory. In order for this method to achieve the desired results, Ford must depend on very reliable suppliers. Ford automates in inventory control under a perpetual inventory system. Accounting for Bad Debt and Doubtful Accounts At every reporting period, Ford assesses the adequacy of their allowance for doubtful accounts. Ford factors in their allowance (estimate) for doubtful accounts in their Trade Receivable account. Additions to the allowance for doubtful accounts are factored and accounted for in the automotive cost of sales (ACOS). Essentially, ford place a buffer in their Trades Receivables accounts to account for the likely occurrence of potential default accounts and makes adjusting entries in their ACOS. Deprecation Method Ford Motor Company records depreciation using the straight-line method. In this method, Ford determines the depreciable cost by taking the cost of the asset minus its salvage value then dividing over the assets useful life. An aspect of Ford's business operations is its fleet sales. Fleets are sold and leased to rental companies, government entities and other fleet customers. Fleet leases are depreciated using the straight-line method over the term of the lease to reduce the asset to its estimated residual value, Method of Recording Intangible Assets Ford uses the straight-line method to record the cost of the intangible asset. Ford's amortizes licenses and advertising agreements over a 5-25 year period, 40-50 years for land rights and 7-17 years for their patents. The 2012 Pre-tax amortization expense was $10,000,000.00 and is forecasted to be the same on 2013 and each year after. Disclosure of Contingent Liabilities Ford discloses that their commitments and contingent liabilities consist mostly of guarantees, indemnifications, litigation and claims and warranty. According to Ford's 2012 SEC 10-K filing: Guarantees are recorded at fair value at the inception of the guarantee. Litigation and claims are accrued when losses are deemed probable and reasonably estimable. Estimated warranty costs and additional service actions are accrued for at the time the vehicle is sold to a dealer, including costs for basic Ford lists its maximum potential guarantee payments as $409 million and its warranty contingencies as $3.656 billion for 2012Step by Step Solution
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