UMUC ACCT220 SEC10-K PAPER AND PRESENTATION

.gif” alt=”Text box: 12/1/2014 project descriptions_220 – acct 220 7989 principles of accounting! (2148)”>.gif” alt=”Text box: https://lear n.um uc.edukontent/enforcedf73698-000119-01-2148-0l4-7989/project%20descriptions_220.htm?d21sessionval=” 15ncmfrnm42xelynniw”=””>Project DescriptionsSEC
10-K Paper
You will be asked to select a company that is publically traded. You
must research and secure the SEC 10-K Annual Report for the most recent year.
This is often available at the company web site. Look for “InvestorInformation” or “Company
Information”. Save the file to your computer for access. There is no need
to print as the report is usually 100 pages or more.
1.
Post the name of your company in the SEC 10-K company for my approval in
the week 1 Discussion.
2.
Each student must select a different company so read the company names
selected by classmates.
3.
You will use this company for discussion in the discussions during the
semester.
4.
You will write a 2 – 3 page paper, single spaced, one inch margins, 12 pt
font, with double space betweenparagraphs. Your paper should comment on the financial statements for
your company as they relate to theinformation
presented in chapters 1-10 of your textbook, including the notes tothe financial statements. **Use headings in your paper such
as Accounts Receivable and Inventory (topics from our textbook; other exampleswould be Balance Sheet and Income Statement).Please keep your paper to no more than 3 pagesThe reportwill be submitted after Chapter 10. Do not
consider information from Ch 11 – 26 in your paper.
5.
Take care to avoid academic dishonesty. Write your paper, read it, and
edit. Use your own words.
6.
Please include a brief introduction of your company as well as a
conclusion/summary at the end.
7.
You will also be required to include the Income Statement and Balance
Sheet as an attachment to your report(you can cut and paste directly from the 10-K report).
8.
APA style is required for citations and a
reference list.
9.
Ask questions if any of the requirements are unclear.
10.Additional guidance for your paper and
resources:
11.Page count does not include title page,
tables and exhibits, table of contents, and reference list
12.Please include a title page (include your name
on the title page)
13.Include a reference list (business classes use
APA format)
14.Include in text citations (business classes
use APA format)
15.Your paper should use one-inch margins on the
left, right, top, and bottom of each page, and font set at 12 point.
16.Take care to comply with the UMUC policy for
academic honesty
17.Write your paper, in your own words, using
accounting words from our textbook and explaining how these relate to the
financial statements of your company
18.Our discussion postings during the semester
should assist you in completing this paper
19.Visit the Accounting Toolbox in theCourse Content
of our LEO classroom
20.The Accounting Toolbox is a constant resource
in our UMUC undergraduate accounting courses
21.Links and explanations to assist you with this
paper may appear in this resource
22.Additional information will be posted in the
Week1Discussion area of Leo Classroom. Please make
sure youreview
carefully and ask questions if you have any.
23.SEC 10-K Power Point Presentation
24.You will also be required to prepare a brief power point file of
no more than 6 slides. Post the power point presentation
in the discussion area for comments by other students.
25.After you read the comments you may wish to make changes to your
power point file before submitting it in the assignment
folder along.
26.
Include a reference list in APA format.
27.Ask questions
if any of the requirements are unclear.
28.You are required to post comments on the work
of at least one other student who does not yet have comments so everyone has at
least one set of comments. Do not wait until the last day to post your power
point file soeveryone has a
chance to visit the files.

Q1: Select a publicly traded U.S. corporation
you would like to study this semester and ask theprofessor for permission by posting a
response here.
Your corporation must:
1)have a SEC 10-K report for the current or most
recent prior year
2)be among the
Fortune 100 companies. To identify Fortune 500 companies click thislink:.cnn.com/magazines/fortune/fortune500/2013/fulliist/”>http://money.cnn.com/magazines/fortune/fortune500/2013/fulliist/
3)have an Accounts Receivable and Inventory
account
Your corporation mayNOT:
1)be the same corporation you used for SEC
projects in other classes
2)be the same corporation a classmate selected
3)be a bank or any other type of financial
institution
Requirements:
1. Write the name of the
corporation, the stock market where it is traded, and its ticker symbol in theSubject 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
COSTCO WHOLESALE CORPORATION; NASDAQ: COST
2..gif”>State why you want to study and prepare a
financial analysis of your corporation.I CURRENTLY SHOP THERE ALOT SO I DECIDED TO COMPLETE MY STUDY ON A CORPORATION THAT I SPEND MYMONEY AT.
3.Provide a direct link to your corporation’s
SEC 10K report for the most recent year. A direct link is a hyper link that
takes you directly to a Website where the SEC 10K report is located. For
example, this isthe direct link to the 2013 SEC 10K
report for Apple, Inc..sec.gov/Archivesiedgar/data/320193/000119312513416534/d590790d1Ok.htm”>http://www.sec.gov/Archivesiedgar/data/320193/000119312513416534/d590790d1Ok.htmTHE DIRECT LINK TO THE 2014 SEC 10K REPORT FOR
COSTCO IS: .sec.govi/ARcHivEstEDGAR/DATA/909832/000090983214000021/cosT1Ok2014.Hrm#s600″>HTTP://www.sEc.Govi/ARcHivEstEDGAR/DATA/909832/000090983214000021/cosT1Ok2014.Hrm#s600
E7D100588224D97A0866737C01837
Themost direct
route to finding the direct link is to use the SEC EDGAR System and search by
Companyname.
The following link is a good place
to start your search:.sec.goviedgar/searchedgar/companysearch.html”>http://www.sec.goviedgar/searchedgar/companysearch.html
4.State your corporation’s position on the
Fortune 500 List for the current year.COSTCO
RATES (22) ON THE FORTUNE 500

S. 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 FinancialPosition)
Statement
of Stockholders Equity (Hint: it could be listed as the Consolidated Statements
ofStockholder’s
EquityorConsolidated Statements of Stockholder’s
Deficit)
INCOME STATEMENT: PG 36
BALANCE SHEET: PG 35
STATEMENT OF STOCKHOLDERS EQUITY: PG 38
Q2: RESPOND TO EACH QUESTION BELOW:
1.
LOCATE THE INCOME STATEMENT (MAY HAVE A DIFFERENT HEADING
SUCH AS STATEMENT OF CONSOLIDATEDOPERATIONS). 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 NETSALES)
2.
LOCATE THE BALANCE SHEET (MAY HAVE A DIFFERENT HEADING
SUCH AS THE STATEMENT OF FINANCIALPOSITION)
** WHAT
ARE THE NAMES OF THE ASSETS AND THEIR VALUES (IF MORE THAN FIVE LINE ITEMS ONLY
REPORT FIRST FIVE LINE ITEMS AND DOLLAR VALUES)
3.
TAKE CARE WITH THE CONCEPT OF $ DOLLARS. MANY FINANCIAL
STATEMENTS ARE EXPRESSED IN MILLIONS OF $.YouWOULD REPORT $895 MILLION FOR THE VALUE $895,000,000. BE A
VERY CAREFUL READER.
4.
STATEMENT OF OWNERS’ EQUITY: POST THE LINE ITEMS AND
DOLLAR VALUES IN THE “EQUITY” SECTION OF THE BALANCE SHEET.YouWILL LIKELY FIND LINE ITEMS INCLUDING COMMON
STOCK, RETAINED EARNINGS (OR DEFICIT)AND
TREASURY STOCK.
5.
ALWAYS INCLUDE THE NAME OF YOUR SEC 10-K COMPANY IN THE
SUBJECT LINE AND THELINK TOYOUR SEC 10-KFINANCIAL STATEMENT WHEN POSTING
6.
WHAT IS THE NET INCOME (OR NETLoss) FOR YOUR SEC 10-K COMPANY?
Q3: READ THENOTES TOTHE FINANCIAL STATEMENTS (FS) FOR YOUR SEC
10-K COMPANY. THESE “NOTES”
AREDISPLAYED AFTER THE FINANCIAL STATEMENTS.
1.
NOTE 1 INCLUDES ACCOUNTING INFORMATION. WHAT IS THE
FISCAL YEAR FOR YOUR SEC 10-K COMPANY? THISMAY BE JUNE 30 EACH YEAR OR IT MAY BETHESUNDAY
CLOSESTTOTHE LAST DAY OF JANUARY ORSOMEOTHER
DESCRIPTION.
2.
INVENTORY:
How ISINVENTORY DESCRIBED FOR YOUR SEC 10-K COMPANY? LIFO, FIFO, AND /
OR AVERAGECOST?RELATE YOUR ANSWERTO TOPICSINOURCOURSE.

3.
INCOME STATEMENT: IS IT A SINGLE STEP OR MULTI STEP INCOME STATEMENT?
4.
CALCULATE THE GROSS PROFIT AND GROSS PROFIT
PERCENTAGE FOR THIS YEAR AND LAST YEAR, CREATING ASMALL TABLE SUCH AS

THIS YEAR

LAST YEAR

NET SALES

$1,200

$1,400

COST OF GOODS SOLD

800

1,200

GROSS PROFIT

$400

$ 200

GROSS PROFIT%

33%

14%

IN THE EXAMPLE
ABOVE, SALES DECREASED, GROSS PROFIT INCREASED, AND THE GROSS PROFIT PERCENTAGE
INCREASED.
THEREFORE ARE SALES ARE MORE PROFITABLE. WE MADE 33 CENTS OF GROSS PROFIT ON
EVERYDOLLAR OF SALES
THIS YEAR BUT ONLY 14 CENTS OF GROSS PROFIT ON EVERY DOLLAR OF SALES LAST YEAR.
SALESDECREASED BUT
ARE 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 INYOUR SEC 10-K
PAPER AND PROJECT.
04: THE FINANCIAL STATEMENTS FOR
YOUR COMPANY ARE USUALLY POSTED IN ITEM 8 OF THE SEC 10-KDOCUMENT.
SEARCH FOR THE AUDITOR’S REPORT.
1.
WHAT IS THE NAME OF THE AUDITOR? VIEWING
THEIR SIGNATURE, WHAT CITY DO YOU SEE.
2.
THE FIRST PAGEOFTHE SEC 10-KISVERY STANDARD
AND LISTS TWO KEY LOCATIONS. USING THIS INFORMATION,POST THE STATE OF INCORPORATION
AND THE CITY AND STATE OF THE CORPORATE HEADQUARTERS FOR YOUR SEC10-K.
3.
RETURNING TO ITEM 8, NEAR THE AUDITOR’S
REPORT (THIS IS THE LETTER THEY SIGN, GIVING THEIR OPINION ON WHETHER THE
FINANCIAL STATEMENTS ARE FAIRLY PRESENTED IN ADHERENCE WITH U.S. GAAP) LOCATE
THE LETTERREGARDING INTERNAL CONTROL. THIS LETTER IS SIGNED BY THE MANAGEMENT OF
THE COMPANY. WHAT ARE THEIR NAMES AND TITLES?
Q5: USING THE SEC 10-K FOR YOUR
COMPANY, ANSWER THE FOLLOWING QUESTIONS:
1.
READING THE NOTES TO THE FINANCIAL
STATEMENTS, AS WELL AS THE BALANCE SHEET, POST INFORMATIONABOUT THEACCOUNTS
RECEIVABLE FORYOURCOMPANY.WHOOWESTHE COMPANY MONEY?
2.
SEARCH FOR THE PHRASE “BAD DEBTS”
OR ALLOWANCE (FOR COLLECTIBLE ACCOUNTS). WHENYOUREAD THEBALANCE SHEETYOUMAY SEETHERECEIVABLES ARE
LISTED AS NET OF $X,XXX TO SHOW THE ALLOWANCE FOR BADDEBTS. COMMENT ABOUT THE CHANGES
IN ACCOUNTS RECEIVABLE AND THE ALLOWANCE FOR BAD DEBTS. ARETHEY INCREASING
OR DECREASING?HowDOES THIS RELATETOSALES (ARE SALES INCREASING OR DECREASING)?

3.
PROPERTY, PLANTS, AND EQUIPMENT / PPE (CAPITAL ASSETS; FIXED ASSETS). COMMENT
ABOUT PPE AND ACCUMULATED DEPRECIATION. HOW
ARE THESE VALUES CHANGING, FROM YEARTO YEAR:PPE, ACCUMULATEDDEPRECIATION, NET PPE.