the paper
Learning Team
Weekly Reflection Discuss the objectives for Week One. How do they relate to the practice of accounting and its uses in business?
• Identify the four basic financial statements.
• Classify transactions using the rules of debit and credit.
• Journalize basic transactions.
• Discuss how financial statements would be useful to external users such as investors and creditors.
Write a 350- to 500-word summary of your Learning Team’s discussion.
Reminder: Use the checkbox in the Assignments Link to acknowledge participation in your Learning Team during the week. 02/22/14 2
Learning Team
Executive Summary Resources: Internet or other resources; annual report for the company of your choice
Select a company for analysis by your team that has been (1) profitable for the last three fiscal years, (2) is not a bank/financial institution, and (3) is on a major U.S. Stock Exchange.
Attain instructor approval of the selected company.
Acquire a copy of the selected company’s most recent annual report by using the Internet or other resources.
Prepare a 1,050- to 1,400-word Executive Summary, using the information contained in the company’s balance sheet and income statement, answering the following questions, noting that annual reporting period and fiscal year mean year-end numbers:
• Company history: When was the company founded? By whom? List other historical facts.
• Who is the audit firm for the company?
• What stock exchange is the company listed on? What is their ticker symbol?
• How much cash and cash equivalents did the company have at the end of its 2 most recent annual reporting periods?
• What were the company’s total current assets at the end of its 2 most recent annual reporting periods? In what order should current assets be presented?
• What were the two largest current assets at the end of its 2 most recent annual reporting periods?
• What were the company’s total assets at the end of its 2 most
Weekly Reflection Discuss the objectives for Week One. How do they relate to the practice of accounting and its uses in business?
• Identify the four basic financial statements.
• Classify transactions using the rules of debit and credit.
• Journalize basic transactions.
• Discuss how financial statements would be useful to external users such as investors and creditors.
Write a 350- to 500-word summary of your Learning Team’s discussion.
Reminder: Use the checkbox in the Assignments Link to acknowledge participation in your Learning Team during the week. 02/22/14 2
Learning Team
Executive Summary Resources: Internet or other resources; annual report for the company of your choice
Select a company for analysis by your team that has been (1) profitable for the last three fiscal years, (2) is not a bank/financial institution, and (3) is on a major U.S. Stock Exchange.
Attain instructor approval of the selected company.
Acquire a copy of the selected company’s most recent annual report by using the Internet or other resources.
Prepare a 1,050- to 1,400-word Executive Summary, using the information contained in the company’s balance sheet and income statement, answering the following questions, noting that annual reporting period and fiscal year mean year-end numbers:
• Company history: When was the company founded? By whom? List other historical facts.
• Who is the audit firm for the company?
• What stock exchange is the company listed on? What is their ticker symbol?
• How much cash and cash equivalents did the company have at the end of its 2 most recent annual reporting periods?
• What were the company’s total current assets at the end of its 2 most recent annual reporting periods? In what order should current assets be presented?
• What were the two largest current assets at the end of its 2 most recent annual reporting periods?
• What were the company’s total assets at the end of its 2 most