Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 37

Internet-Based Team Research: Examining an Annual Report
As a team, select an industry to analyze. Reuters provides lists of industries and their makeup at www.reuterb.com/finance/industries. Each group member should access the annual report (or Form 10-K filed with the SEC) for one publicly traded company in the industry, with each member selecting a different company. In addition to the company's own Web site, a great source is the SEC's Electronic Data Gathering, Analysis, and Retrieval (EDGAR) service. This free source is available by going to the "Filings" section of www.sec.goM and clicking on "Search for Company Filings" and then "Company or fund name."
Required :
1. On an individual basis, each team member should write a short report that lists the following information:
a. What type of business organization is it
b. What types of products or services does it sell
c. On what day of the year does its fiscal year end
d. For how many years does it present complete balance sheets Income statements Cash flow statements
e. Are its financial statements audited by independent CPAs If so by whom
f. Did Its total assets increase or decrease over the last year
g. Did its net income increase or decrease over the last year
2. Then, as a team, write a short report comparing and contrasting your companies using these attributes. Discuss any patterns across the companies that you as a team observe. Provide potential explanations for any differences discovered.