ACC 6100 Exam 1/ Report 1 – Accounting Detective for Cold or Current Case (2015)

| October 3, 2018

Exam 1/ Report 1Accounting Detective for Cold or Current CaseFinancial Statement AnalysisDream to become an accounting detective? What can an accounting detective do? Here are someclues.? Make sure your current or future employer is not another Enron that wiped out itsemployee 401 (k) fund?? Want to know your city is not like Detroit that has kept borrowing money for decades tomeet its financial obligation?? Desire to unearth a white-collar crime such as WorldCom fraud that misclassified regularmaintenance as capital investment, for instance?? Find out whether your charity organization uses your money as efficiently and effectivelyas Salvation Army whose CEO only gets $40K annual salary compared to its $2 Billionannual donation?? Confirm your intuitive assessment about a company’s sustainability of its strategy unlikeNetFlix’s separate subscription policy that drove away its subscribers?? Explore an opportunity to start up a company by analyzing a leader of the industry ofyour interest?Pick up either (a) a publicly-traded company headquartered in Toledo or neighboring cities (likeCleveland, Columbus, Cincinnati, or Detroit) OR (b) a large or well-known companyfrom the Listing of Financial Restatement Announcements on Page 74 -155 of FinancialRestatement Report by US General Accountability Office in 2006(http://www.gao.gov/new.items/d06678.pdf). Then obtain its relevant financial statements fromits corporate website or www.sec.gov obtain its financial statements, and perform the followingresearch.1. Introduction to the company: (a) find video clips about the organization (if possible), and(b) comment on the results of three types of analysis: horizontal, vertical and ratioanalysis (leave the detailed analysis calculation to the appendix of the Exam 1/ Report 1).2. Footnotes: Discuss at least five footnotes in the areas of (a) contingency, (b) taxation, (c)capital budgeting, (d) R&D, (e) outsourcing, etc. In addition, find out best and worstdecision that the company has ever made.3. Compensation: Elaborate employee compensation, especially executive compensation.4. Strategy and Stakeholder: Comment on the organizational strategy and its relationshipwith its stakeholders such as donors (if applicable), employees, suppliers, lenders,community, regulator, and tax agency.5. Ethics and/or Fraud: Discover any ethical issues and/or fraud the organization mayinvolve.6. Industry and Benchmarking: Compare the organization with other industry leadingcompanies and critique the industry that the organization is operating in terms ofindustrial competitiveness and survivability.7. U.S. and world economy: Find out the impact of U.S. economy and globalization on theorganization8. Forecasting: Use Chap 11 methods to forecast the organizational income statement forthe next year. You may use prior financial statements to figure out approximate growthrate and make your own assumptions if necessary.9. Equity Valuation: Follow Chap 12 to forecast the share value. You may use priorfinancial statements to estimate the share value and make own assumptions if necessary.10. Decision Making: Would you invest in this company? Comment on the future of theorganization for stakeholders (e.g., investors).

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