umuc acct220 week 1 to week 6 discusions latest 2016 feb

| March 29, 2017

Question
week1

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. 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 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

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

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.:.sec.gov/Archives/edgar/data/320193/000119312515356351/d17062d10k.htm”>https://www.sec.gov/Archives/edgar/data/320193/000119312515356351/d17062d10k.htm

The most direct route to finding the direct link is to use the SEC EDGAR System and search by Company name. The following link is a good place to start your search:
.sec.gov/edgar/searchedgar/companysearch.html”>http://www.sec.gov/edgar/searchedgar/companysearch.html

State your corporation’s position on the Fortune 500 List for the current year.

Provide page numbers for all four required financial statements:

Income Statement (Hint: It could be listed as the Consolidated Statements of Income.)
Balance Sheet (Hint: It could be listed as the Consolidated Balance Sheet or Statement of Financial Position.)
Statement of Stockholders Equity (Hint: 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

Read the prompt below and click the title above to respond.

Locate the Income Statement (may have a different heading such as Statement of Consolidated Operations). Hint: First line should relate to Revenue.

** What is the Description and Dollar Value of the first line on the Income Statement (it may be net sales)?

Locate the Balance Sheet (it may have a different heading, such as the Statement of Financial Position).

** What are the names of the assets and their values (if more than five line items, report only the first five line items and dollar values).

Take care with the concept of $ dollars. Many financial statements are expressed in millions of $. You would report $895 million for the value $895,000,000. Be a very careful reader.

Statement of Owners’ Equity: Post the line items and dollar values in the “Equity” section of the balance sheet. You will likely find line items including Common Stock, Retained Earnings (or Deficit), and Treasury Stock.

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

What is the Net Income (or Net Loss) for your SEC 10-K company?

week 3

Read the Notes to the Financial Statements (FS) for your SEC 10-K company. These “notes” are displayed after the financial statements.

Note 1 includes accounting information. What is the fiscal year for your SEC 10-K Company? This may be June 30 each year, or it may be the Sunday closest to the last day of January, or some other description.
Inventory: How is Inventory described for your SEC 10-K company? LIFO, FIFO, and/or average cost? Relate your answer to topics in our course.
Income Statement: Is it a single-step or multi-step income statement?
Calculate the Gross Profit and Gross Profit Percentage for this year and last year, creating a small table, such as the following:
This Year

Last Year

Net Sales

$1,200

$1,400

Cost of Goods Sold

800

1,200

Gross Profit

400

200

Gross Profit Percentage

33%

14%

In the example above, sales decreased, gross profit increased, and the gross profit percentage increased. Therefore, sales are more profitable. We made 33 cents of gross profit on every dollar of sales this year, but only 14 cents of gross profit on every dollar of sales last year. Sales decreased, but sales are actually generating more profit overall, both as an absolute dollar value and as a percentage.

Your description may be different, but these are comments you might make for this posting and in your SEC 10-K paper and project.

week 5

.5em=”” 0px=”” 1em;=”” padding:=”” 0px;=”” border:=”” outline:=”” font-size:=”” 13px;=”” color:=”” rgb(53,=”” 53,=”” 53);=”” font-family:=”” ‘pt=”” sans’,=”” sans-serif;=”” background:=”” rgb(250,=”” 250,=”” 250);”=””>Read the prompt below and click the title above to respond.
Using the SEC 10-K for your company, answer the following questions:

Reading the notes to the financial statements, as well as the balance sheet, post information about the Accounts Receivable for your company. Who owes the company money?

Search for the phrase “Bad Debts” or Allowance (for collectible accounts). When you read the balance sheet, you may see that the receivables are listed as a net of $x,xxx to show the Allowance for Bad Debts. Comment about the changes in Accounts Receivable and the Allowance for Bad Debts. Are they increasing or decreasing? How does this relate to sales (are sales increasing or decreasing)?

Property, Plants, and Equipment / PPE (Capital Assets; Fixed Assets): Comment about PPE and accumulated depreciation. How are these values changing from year to year: PPE, Accumulated Depreciation, and Net PPE?

week 6

Read the guidelines below for peer review and click the title to respond.

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 your to improve your project.

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

To participate in the SEC 10K Peer Review process, post a draft of one or both documents as a response to this discussion topic.

Ask for and volunteer to provide detailed and constructive to one or more of your classmates.

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