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AMBA/630 AMBA630 AMBA 630 Week 2 Assignment


AMBA 630 Week 2 Assignment Financial Accounting; Understanding Financial Statements (Required) You may want to start with this on-line tutorial. It will take a total of 45 minutes and can be completed over multiple days. It is optional and not graded. It explains accrual accounting and financial statements is an easy to understand way. To open click and open in a new window or copy the link into the url section of your browser. • http://www.baruch.cuny.edu/tutorials/statements/ Our purpose this week: learning how to understand and interpret financial statements. Show us that you have read and understood the required readings, links and attached files – quote them where appropriate. Assignment: The class should discuss all of the questions listed below as they relate to the financial statements of any U.S. public company of your choice in its latest annual report. You can find the financial statements of any U.S. public company by visiting Morningstar, Yahoo Finance or MSN Money, and using the stock market symbol for your chosen company (which can be looked up on Morningstar, Yahoo Finance or MSN Money). If you work for a U.S. public company, you probably want to use the financial statements of your company – but the choice is up to you. NOTE: Sometimes Yahoo, MSN Money and Morningstar omit numbers. Only the annual report from the company web site or the SEC form 10-K (for U S Companies) can be guaranteed to have all numbers correct. The 10-K Business section and Management Discussion and Analysis contain valuable information about the business, competitors and what happened to financial results. It can be found on the SEC web site: www.sec.gov. Click on Edgar and then enter the ticker symbol for the company. Search for 10-K. It is useful to compare financial ratios for a company with financial ratios of its industry. Industry financial ratios can be found on Morningstar.com, Yahoo Finance and MSN Money. Please answer the following questions in some detail: (Answer specific to the company you were assigned rather than generic to all financial statements.) 1) What 3 items of important information does the income statement reveal about the financial performance of the company over the last three years? 2) What 3 items of important information does the balance sheet reveal about the financial position of the company over the last two years? 3) Can you identify the major sources of funding used by the company from the information presented in the company’s Cash Flow Statement? 4) Who is responsible for: a) the issuance, and b) the content of the company financial statements? 5) What assurance, if any, is there that the financial statements are in compliance with GAAP, and are free of material misstatements? 6) Of what use, if any, are the notes to the financial statements? Give 2 facts learned from reading footnotes. 7) What can you learn from Business Section of the 10-K? Give two facts about the company that you picked from the Business Section. 8) What Can you learn from the Management’s Discussion and Analysis of Financial Condition and Results of Operations in the 10-K? Give two facts about the company from this section. ************* A separate main topic has been created in the Week 2 discussion for each question. Each student is expected to make a significant contribution to the overall discussion. Please post your answers under the appropriate main topic headings. If you can add a substantive comment to a classmate’s post, please do so. You should read posted comments. Quantitative analysis tied to the financial statement concepts will add value to your work. The Power Point (Financial Statements.ppt) should be very helpful. ************* Week 2 – Financial Accounting In Week 1 we discussed economics and management decisions. We focused on how choices could be analyzed and decisions made. Now we turn to evaluating the success of those choices and decisions, which is the scorecard known as


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