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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 43
Internet-Based Team Research: Examining an Annual Report
As a team, select an industry to analyze. Using your Web browser, each team member should access the annual report or 10-K for one publicly traded company in the industry, with each member selecting a different company. (See S1-3 in Chapter 1 for a description of possible resources for these tasks.)
Required:
1. On an individual basis, each team member should write a short report that incorporates the following:
a. Calculate the receivables turnover ratio for the current and prior year, and explain any change between the two years. (To obtain the beginning accounts receivable number for the prior year, you will need the prior year's annual report.)
b. Look in the 10-K for the Schedule II analysis of "Valuation and Qualifying Accounts," which provides additional disclosures concerning the Allowance for Doubtful Accounts. From this schedule, determine the level of Bad Debt Expense, as a percentage of sales, for the current and prior 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.
As a team, select an industry to analyze. Using your Web browser, each team member should access the annual report or 10-K for one publicly traded company in the industry, with each member selecting a different company. (See S1-3 in Chapter 1 for a description of possible resources for these tasks.)
Required:
1. On an individual basis, each team member should write a short report that incorporates the following:
a. Calculate the receivables turnover ratio for the current and prior year, and explain any change between the two years. (To obtain the beginning accounts receivable number for the prior year, you will need the prior year's annual report.)
b. Look in the 10-K for the Schedule II analysis of "Valuation and Qualifying Accounts," which provides additional disclosures concerning the Allowance for Doubtful Accounts. From this schedule, determine the level of Bad Debt Expense, as a percentage of sales, for the current and prior 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.
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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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