Write a comprehensive report containing with the following elements: (If report is partially completed, the report will not be accepted. You must have all parts completed before I will grade your report. Remember this is a comprehensive report and must be summited as a whole.
a. Declared Company – Write 1-1.5 pages about the company and its direction from a financial standpoint (This is based on combination of narrative and quantitative measurements in the annual report.) (Measures C6)
i. It is suggested to write this section after researching items b-i below.
b. Identify the main financial statements in the annual report and describe the basic financial statement elements.
Discuss if the financial statements follow GAAP and how can a user identify if it is compliance with GAAP.
The suggested length be 1 to 1 ½ page. (Measures C2). I suggest using balance sheets e.g. Account receivables (Cash). This is maybe in management’s Discussion and analysis report, or Auditors report in internal controls.
c. The annual report information should discuss budget outcomes (Management’s discussion analysis and annual report should say something about Budget Outcome). Discuss budget results and management’s reflection and//or action of budget outcomes. How it was discus and how they dealt with it. E.g. discussing the budget report, how the managed to address any issues that came up with not meeting the budget or exceeding the budget. The management need to address this. The suggested length be ½ – 1 page. (Measures C4-C5)
d. Create a vertical analysis for the most recent year for one major financial statement (consolidated) Strongly recommend using Balance Sheet.