ACCT 212
Individual Learning Project Questions
Name____Example____________
General Information:
1. What is the name of your corporation? Kraft Foods Group
2. Where are the corporate headquarters? Northfield, IL
3. What is the corporation’s fiscal year end? 12/27/2014
4. What are the primary products or services of the corporation? “We manufacture and market food and beverage products, including cheese, meats, refreshment beverages, coffee, packaged dinners, refrigerated meals, snack nuts, dressings, and other grocery products.” [10-K, page 1]
5. Graph the high and low price of the company’s stock for each quarter of the last two years. What was the high and what was the low?
The high was $91.32; the low was $55.93 [https://finance.google.com/finance/historical?cid=667819950492168&startdate=Jul%201%2C%202013&enddate=Jun%2030%2C%202015&ei=LFsPWuCyONPEmAGh2YDgDw&start=0&num=30. For existing companies, Yahoo Finance is a better option though, because you can group the historical prices by month rather than by day, meaning you only have to look at 3 lines to determine the overall high/low instead of 65 lines]
6. Who is the company’s transfer agent and where are they located? Wells Fargo Bank, N.A. [Definitive Proxy Statement, page 70; some companies will include this in the 10-K, or there are websites where you can look it up as well – www.stai.org is a good one]
7. Who are your company’s competitors? Large national and international companies and numerous local and regional companies, generic products and retailer brands, wholesalers, and cooperatives [10-K, page 4]
Market Information:
8. On which stock exchange is your corporation’s stock traded? NASDAQ [10-K, page 1]
9. What is the current market price of their stock? $88.19 [This is the final stock price before the merger with Heinz – found on Kraft’s website, although for current companies, it will be available on almost any financial website]
10. What is the ticker symbol used to identify your corporation on the stock exchange? KRFT
Internet Information:
11. What is the Internet address of your corporation? Be sure it appears as a hyperlink. www.kraftheinzcompany.com[This is the current web address, it would have been different before the merger]
12. Is the corporation’s Annual Report online? Yes [It is available in many places – the company’s website, www.morningstar.com, www.businessweek.com, etc.]
13. Are its financial statements on-line? Yes
14. Is your company listed on Annualreports.com? No [Not anymore, at least – it probably was before the merger]
15. How long is your company’s 10-K report at the Securities and Exchange Commission website (Edgar Database)? 171 pages
Cash Flow and Retained Earnings:
16. List the amount of cash flows from each of the 3 activities: Operating, Investing, and Financing for the 2 most recent years. What was the increase or decrease in cash for each of these years?
Category
2014
2013
Operating
2,020 million
2,043 million
Investing
(535 m ...
THE Costco Wholesale CorporationSEC 10-K ReportMaryam Tayeri.docxmehek4
THE Costco Wholesale Corporation
SEC 10-K Report
Maryam Tayeri
Company Introduction
The Costco Wholesale Corporation was first opened under the name of Price Club in 1976 and provides goods to its customers for reasonable prices.
This presentation analyzes the fiscal years of 2013 & 2014 Statement of Cash Flow in details such as: Operating , Investing, and Financing activities.
Analysis of Operating Cash Flow
For the Fiscal Years of 2013 & 2014
Net cash provided by operating activities for the fiscal year of 2014 $3,984 million
Difference in income taxes for the year
($63 million)
Net cash provided by operating activities for the fiscal year of 2013 $3,437 million
Difference in income taxes for the year
($7 million)
Receivables Turnover Ratio
Fiscal Year of 2014
Receivables Turnover Ratio :
Net Credit Sales/ Average Net Receivables =
$110,212/ (($1148+$1201)/2)= 93.84
Analysis of Investing Cash Flow
Fiscal Years of 2013 & 2014
2014- Net cash used by investing activities ($2,093) Main investing activities: Purchase of short-term investments for ($2,503 million).
2013- Net cash used by investing activities ($2,251) Main investing activities: Purchase of short-term investments for ($2,572 million).
Analysis of Financing Cash Flow
Fiscal Years of 2013 & 2014
Fiscal year of 2013
Net cash (used in)
provided by financing activities ($786 million)
Fiscal year of 2014
Net cash (used in) Provided by financing activities $44 million
Net increase (decrease) in cash & cash equivalent
Fiscal years of 2013 & 2014
2014- Net cash increase by $1,094 million
2013- Net cash increase by $1,116 million
Recommendation
Costco Corporation
By Analysis of three parts of the Statement of Cash Flow we can conclude that Costco Corporation is a healthy company for investments:
1. Net cash provided by operating activities has been increased, compared to the pervious year.
2. Net cash used for investing activities was mainly for the short-term investment for the last two years.
References
Costco Wholesale Corporation Financial Statement Analysis Report
Maryam Tayeri
University of Maryland University College
Introduction
The purpose of this project is to provide financial insights of Costco Wholesale Corporation based on its SEC 10-K report, by analyzing Company’s Financial Statement for the fiscal year of 2014. The main focus of this analysis is to obtain various ratios by evaluating the three broad categories of the Statement of Cash Flow which provides information about Company’s operating activities, investing activities, and financing activities. Costco Corporation provides goods to its customers with reasonable prices. Costco’s largest competition is Sam’s Club which is owned by Wal-Mart Corporation. In this report, Costco and Wal-Mart’s Statements of Cas ...
STR 581 Capstone Final Examination Part 2 - Studentehelpstudent ehelp
Learn more at lower prices, Course STR 581 Capstone Final Examination, Part Two with entire test paper are offered. You can also choose according to your syllabus of STR 581 Capstone Final Examination.
21
Analyzing Financial
Statements
Chapter Twenty-One
After completing this chapter, you should be able to:
1 Explain the objectives of financial statement analysis.
2 Describe and use the following four analytical techniques: horizontal analysis, trend
analysis, vertical analysis, and ratio analysis.
3 Explain the importance of comparisons and trends in financial statement analysis.
4 Prepare and interpret common-size financial statements.
5 Define and compute the various financial ratios discussed in the chapter.
Chicago, IL—Contemporary
Interiors, a Chicago tradition in
Scandinavian furniture and
contemporary design, has
announced a decision to go
national. Although Contempo-
rary Interiors has opened
stores throughout the Midwest
in recent years, the company
has remained a regional busi-
ness with the bulk of its sales
in the greater Chicago area.
Yesterday, however, a company
spokesman announced that
Contemporary Interiors’ Board
of Directors had decided the
time was right to make the
next move. Marc Janson,
spokesman for the firm’s pres-
ident and CEO, pointed to the
strong economy and consumer
confidence as being key to the
decision. “Disposable income
is up, and we’re seeing that in
our business,” said Janson.
“Even more important, though,
is our company’s strong finan-
cial position. The analysts tell
us that our financial state-
ments look good. Our working
capital, inventory turnover,
return on assets, and so forth
are all strong. This will be
important, because in order to
expand, the company’s going
to have to raise capital. And
the bankers and potential
investors are going to need to
see those strong financial indi-
cators. The board hasn’t
decided yet how much of our
new capital needs should be
debt and how much should be
in stock. I’m sure they’ll keep a
close eye on the debt-equity
ratio.” When asked where
Contemporary Interiors’ next
store would appear, Janson
replied that New York, Atlanta,
and San Francisco were all
under consideration.
CONTEMPORARY INTERIORS TO GO NATIONAL
Financial statements provide the primary means for managers to communicate about
the financial condition of their organization to outside parties. Managers, investors,
lenders, financial analysts, and government agencies are among the users of financial
statements. Substantial information is conveyed by financial statements about the
financial strength and current performance of an enterprise. Although financial state-
ments are prepared primarily for users outside an organization, managers also find their
organization’s financial statements useful in making decisions. As managers develop
operating plans, they think about how those plans will affect the performance of the
organization, as conveyed by the financial statements. In this chapter, we explore how
to analyze financial statements to glean the most information about an organization.
Overview of Financial Statements
There are four primary financial statements:
1. Balance sheet
2..
THE Costco Wholesale CorporationSEC 10-K ReportMaryam Tayeri.docxmehek4
THE Costco Wholesale Corporation
SEC 10-K Report
Maryam Tayeri
Company Introduction
The Costco Wholesale Corporation was first opened under the name of Price Club in 1976 and provides goods to its customers for reasonable prices.
This presentation analyzes the fiscal years of 2013 & 2014 Statement of Cash Flow in details such as: Operating , Investing, and Financing activities.
Analysis of Operating Cash Flow
For the Fiscal Years of 2013 & 2014
Net cash provided by operating activities for the fiscal year of 2014 $3,984 million
Difference in income taxes for the year
($63 million)
Net cash provided by operating activities for the fiscal year of 2013 $3,437 million
Difference in income taxes for the year
($7 million)
Receivables Turnover Ratio
Fiscal Year of 2014
Receivables Turnover Ratio :
Net Credit Sales/ Average Net Receivables =
$110,212/ (($1148+$1201)/2)= 93.84
Analysis of Investing Cash Flow
Fiscal Years of 2013 & 2014
2014- Net cash used by investing activities ($2,093) Main investing activities: Purchase of short-term investments for ($2,503 million).
2013- Net cash used by investing activities ($2,251) Main investing activities: Purchase of short-term investments for ($2,572 million).
Analysis of Financing Cash Flow
Fiscal Years of 2013 & 2014
Fiscal year of 2013
Net cash (used in)
provided by financing activities ($786 million)
Fiscal year of 2014
Net cash (used in) Provided by financing activities $44 million
Net increase (decrease) in cash & cash equivalent
Fiscal years of 2013 & 2014
2014- Net cash increase by $1,094 million
2013- Net cash increase by $1,116 million
Recommendation
Costco Corporation
By Analysis of three parts of the Statement of Cash Flow we can conclude that Costco Corporation is a healthy company for investments:
1. Net cash provided by operating activities has been increased, compared to the pervious year.
2. Net cash used for investing activities was mainly for the short-term investment for the last two years.
References
Costco Wholesale Corporation Financial Statement Analysis Report
Maryam Tayeri
University of Maryland University College
Introduction
The purpose of this project is to provide financial insights of Costco Wholesale Corporation based on its SEC 10-K report, by analyzing Company’s Financial Statement for the fiscal year of 2014. The main focus of this analysis is to obtain various ratios by evaluating the three broad categories of the Statement of Cash Flow which provides information about Company’s operating activities, investing activities, and financing activities. Costco Corporation provides goods to its customers with reasonable prices. Costco’s largest competition is Sam’s Club which is owned by Wal-Mart Corporation. In this report, Costco and Wal-Mart’s Statements of Cas ...
STR 581 Capstone Final Examination Part 2 - Studentehelpstudent ehelp
Learn more at lower prices, Course STR 581 Capstone Final Examination, Part Two with entire test paper are offered. You can also choose according to your syllabus of STR 581 Capstone Final Examination.
21
Analyzing Financial
Statements
Chapter Twenty-One
After completing this chapter, you should be able to:
1 Explain the objectives of financial statement analysis.
2 Describe and use the following four analytical techniques: horizontal analysis, trend
analysis, vertical analysis, and ratio analysis.
3 Explain the importance of comparisons and trends in financial statement analysis.
4 Prepare and interpret common-size financial statements.
5 Define and compute the various financial ratios discussed in the chapter.
Chicago, IL—Contemporary
Interiors, a Chicago tradition in
Scandinavian furniture and
contemporary design, has
announced a decision to go
national. Although Contempo-
rary Interiors has opened
stores throughout the Midwest
in recent years, the company
has remained a regional busi-
ness with the bulk of its sales
in the greater Chicago area.
Yesterday, however, a company
spokesman announced that
Contemporary Interiors’ Board
of Directors had decided the
time was right to make the
next move. Marc Janson,
spokesman for the firm’s pres-
ident and CEO, pointed to the
strong economy and consumer
confidence as being key to the
decision. “Disposable income
is up, and we’re seeing that in
our business,” said Janson.
“Even more important, though,
is our company’s strong finan-
cial position. The analysts tell
us that our financial state-
ments look good. Our working
capital, inventory turnover,
return on assets, and so forth
are all strong. This will be
important, because in order to
expand, the company’s going
to have to raise capital. And
the bankers and potential
investors are going to need to
see those strong financial indi-
cators. The board hasn’t
decided yet how much of our
new capital needs should be
debt and how much should be
in stock. I’m sure they’ll keep a
close eye on the debt-equity
ratio.” When asked where
Contemporary Interiors’ next
store would appear, Janson
replied that New York, Atlanta,
and San Francisco were all
under consideration.
CONTEMPORARY INTERIORS TO GO NATIONAL
Financial statements provide the primary means for managers to communicate about
the financial condition of their organization to outside parties. Managers, investors,
lenders, financial analysts, and government agencies are among the users of financial
statements. Substantial information is conveyed by financial statements about the
financial strength and current performance of an enterprise. Although financial state-
ments are prepared primarily for users outside an organization, managers also find their
organization’s financial statements useful in making decisions. As managers develop
operating plans, they think about how those plans will affect the performance of the
organization, as conveyed by the financial statements. In this chapter, we explore how
to analyze financial statements to glean the most information about an organization.
Overview of Financial Statements
There are four primary financial statements:
1. Balance sheet
2..
Understanding Basics of Financial StatementsAnkita6745
Understanding the basic concepts and term used in the Financial Statements.Understanding the ratios used for analyzing the Financial Statements.Discussing factors that drive corporate valuations.
STR 581 Capstone Final Examination, Part 2 - STR 581 Capstone Final Examinati...Transweb E Tutors
Transweb E Tutors provides the finest assignments and Homework help for STR 581 Capstone Final Examination, Part Two. Come to get the all Course matters and weekly assignments of STR 581 Capstone Final Examination of all part at the Transweb E Tutors. Find the STR 581 capstone final examination part 2 questions and their answers for free.
http://www.transwebetutors.com/University-of-phoenix/STR-581-Week-4-Capstone-Final-Examination-Part-Two.html
ACC644 Financial Statement Analysis
Comprehensive Project
OBJECTIVE
Financial Statement Analysis project involves a team of students analyzing financial statements of two (2) companies from the same industry and prepare a written analysis as well as recommendations.
ADDITIONAL RESOURCES
In addition to these guidelines, additional information is provided on the company’s Web site, library databases and the textbook including: formulas and guidelines for calculations, information about the two (2) companies being analyzed, and any special considerations related to the specific companies or current economic conditions.
DESCRIPTION
The team will be analyzing each company’s annual report (10-K filing), which serves as a “résumé” of a corporation. The Generally Accepted Accounting Principles (GAAP) and the Securities and Exchange Commission (SEC) provide much of the information in corporate annual reports and in the 10-K. Specifically, GAAP requires annual reports to disclose four financial statements: a Balance Sheet, a Statement of Cash Flows, an Income Statement and a Statement of Retained Earnings.
FINANCIAL STATEMENT ANALYSIS PROJECT
Spring 2015
FORMAT FOR PROJECT:
TITLE PAGE
The first page of the project is the title page, which lists the following:
• FINANCIAL STATEMENT ANALYSIS PROJECT
• Analysts’ (Participants’) Names
• Date
The body of the project must consist of the following six (6) sections - clearly marked.
SECTION 1: EXECUTIVE SUMMARY
In this section provide a brief overview of each of the two corporations. Participants are not limited but, at a minimum, should provide the following information for both companies:
• Official name of the corporation
• Location of the corporate headquarters
• The state in which the company is incorporated
• Company Internet address
• Stock symbol of the corporation and the exchange on which it is traded
• Fiscal year-end of the corporation
• Date of the 10-K filing according to the financial statements provided
• The company’s independent accountant/auditor
• The primary products(s) and/or services (s) of the corporation
SECTION 2: BALANCE SHEET ANALYSIS
1. Using elements listed on your company’s balance sheet, prepare a common size balance sheet using the following format. (Vertical Analysis Chapter 5)
COMPANY #1
Account
Current Year
%
Prior Year
‘ %
COMPANY #2
Account
Current Year
%
Prior Year
‘ %
2. Using elements listed on your company’s balance sheet calculate the increase or decrease in dollars and percent between the years using the following format. (Year to Year Change Analysis Chapter 5)
COMPANY #1
Account
Current Year
Prior Year
+/- $
%
COMPANY #2
Account
Current Year
Prior Year
+/- $
%
3. Using elements listed on your company’s balance sheet calculate the ratios and amounts using two years prior as the base year (100%) using the following format. Your answers should all be in percentages (Horizontal Analysis Chapter 5).
.
A presentation about the Cash Flow Statement ,whole chapter is covered in the slides .one can easily understand the concept of cash flow statement
and a video is also there but link went missing so please search it on youtube by the name of "cash flow statement in 3-min" a beautiful video to understand the basic concept of cash flow statement.In the end a numerical has solved for the better understanding ,which let u fetch marks in your examinations.
Mini Case112018Chapter 2 Mini CaseSituationJenny Cochran, a grad.docxpauline234567
Mini Case11/20/18Chapter 2 Mini CaseSituationJenny Cochran, a graduate of The University of Tennessee with 4 years of experience as an equities analyst, was recently brought in as assistant to the chairman of the board of Computron Industries, a manufacturer of computer components.
During the previous year, Computron had doubled its plant capacity, opened new sales offices outside its home territory, and launched an expensive advertising campaign. Cochran was assigned to evaluate the impact of the changes. She began by gathering financial statements and other data.Computron's Balance Sheets (Millions of Dollars)20182019AssetsCash and equivalents$ 60$ 50Short-term investments10010Accounts receivable400520Inventories620820Total current assets$ 1,180$ 1,400Gross fixed assets$ 3,900$ 4,820Less: Accumulated depreciation1,0001,320Net fixed assets$ 2,900$ 3,500Total assets$ 4,080$ 4,900Liabilities and equityAccounts payable$ 300$ 400Notes payable50250Accruals200240Total current liabilities$ 550$ 890Long-term bonds8001,100Total liabilities$ 1,350$ 1,990Common stock1,0001,000Retained earnings1,7301,910Total equity$ 2,730$ 2,910Total liabilities and equity$ 4,080$ 4,900Computron's Income Statement (Millions of Dollars)20182019Net sales$ 5,500$ 6,000Cost of goods sold (Excluding depr. & amort.)4,3004,800Depreciation and amortizationa290320Other operating expenses350420Total operating costs$ 4,940$ 5,540Earnings before interest and taxes (EBIT)$ 560$ 460Less interest 68108Pre-tax earnings$ 492$ 352Taxes (25%)12388Net Income $ 369$ 264Notes:a Computron has no amortization charges.Other Data20182019Stock price$50.00$30.00Shares outstanding (millions)100100Common dividends (millions)$90$84Tax rate25%25%Weighted average cost of capital (WACC)10.00%10.00%Computron's Statement of Cash Flows (Millions of Dollars)
Bart Kreps: The statement of cash flows provides information about cash inflows and outflows during an accounting period.
2019Operating Activities Net Income before preferred dividends$ 264Noncash adjustments Depreciation and amortization320Due to changes in working capital Change in accounts receivable(120) Change in inventories(200) Change in accounts payable100 Change in accruals40Net cash provided by operating activities$ 404Investing activities Cash used to acquire fixed assets$ (920)
Bart Kreps: Make sure to add back annual Depreciation to Net PP&E.
Bart Kreps: The statement of cash flows provides information about cash inflows and outflows during an accounting period.
Change in short-term investments90Net cash provided by investing activities$ (830)Financing Activities Change in notes payable$ 200 Change in long-term debt300 Payment of cash dividends(84)Net cash provided by financing activities$ 416Net change in cash.
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
Variables in a Research Study and Data CollectionIn this assignmen.docxdaniahendric
Variables in a Research Study and Data Collection
In this assignment, you will explore the variables involved in a research study.
Complete the following tasks:
Read the following articles from the Cumulative Index to Nursing and Allied Health Literature (CINAHL) Database in the South University Online Library.
Lee, A., Craft-Rosenberg, M. (2010). Ineffective family participation in
professional care: A concept analysis of a proposed nursing
diagnosis.
Nurs Diagn
. 2002 Jan-Mar;
13
(1), 5–14.
Witt, C. M., Lüdtke, R., Willich, S. N. (2010). Homeopathic treatment
of patients with migraine: A prospective observational study with
a 2-year follow-up period.
J Altern Complement Med
. 2010 Apr;
16
(4), 347–55. doi: 10.1089/acm.2009.0376.
Read the process for data collection employed in both these studies. Compare the method used in each of them.
Provide a bulleted list of the five tasks performed as part of data collection in each of them. Click
here
to enter your responses in the organizer.
.
Variation exists in virtually all parts of our lives. We often see v.docxdaniahendric
Variation exists in virtually all parts of our lives. We often see variation in results in what we spend (utility costs each month, food costs, business supplies, etc.). Consider the measures and data you use (in either your personal or job activities). When are differences (between one time period and another, between different production lines, etc.) between average or actual results important? How can you or your department decide whether or not the observed differences over time are important? How could using a mean difference test help?
.
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Understanding the basic concepts and term used in the Financial Statements.Understanding the ratios used for analyzing the Financial Statements.Discussing factors that drive corporate valuations.
STR 581 Capstone Final Examination, Part 2 - STR 581 Capstone Final Examinati...Transweb E Tutors
Transweb E Tutors provides the finest assignments and Homework help for STR 581 Capstone Final Examination, Part Two. Come to get the all Course matters and weekly assignments of STR 581 Capstone Final Examination of all part at the Transweb E Tutors. Find the STR 581 capstone final examination part 2 questions and their answers for free.
http://www.transwebetutors.com/University-of-phoenix/STR-581-Week-4-Capstone-Final-Examination-Part-Two.html
ACC644 Financial Statement Analysis
Comprehensive Project
OBJECTIVE
Financial Statement Analysis project involves a team of students analyzing financial statements of two (2) companies from the same industry and prepare a written analysis as well as recommendations.
ADDITIONAL RESOURCES
In addition to these guidelines, additional information is provided on the company’s Web site, library databases and the textbook including: formulas and guidelines for calculations, information about the two (2) companies being analyzed, and any special considerations related to the specific companies or current economic conditions.
DESCRIPTION
The team will be analyzing each company’s annual report (10-K filing), which serves as a “résumé” of a corporation. The Generally Accepted Accounting Principles (GAAP) and the Securities and Exchange Commission (SEC) provide much of the information in corporate annual reports and in the 10-K. Specifically, GAAP requires annual reports to disclose four financial statements: a Balance Sheet, a Statement of Cash Flows, an Income Statement and a Statement of Retained Earnings.
FINANCIAL STATEMENT ANALYSIS PROJECT
Spring 2015
FORMAT FOR PROJECT:
TITLE PAGE
The first page of the project is the title page, which lists the following:
• FINANCIAL STATEMENT ANALYSIS PROJECT
• Analysts’ (Participants’) Names
• Date
The body of the project must consist of the following six (6) sections - clearly marked.
SECTION 1: EXECUTIVE SUMMARY
In this section provide a brief overview of each of the two corporations. Participants are not limited but, at a minimum, should provide the following information for both companies:
• Official name of the corporation
• Location of the corporate headquarters
• The state in which the company is incorporated
• Company Internet address
• Stock symbol of the corporation and the exchange on which it is traded
• Fiscal year-end of the corporation
• Date of the 10-K filing according to the financial statements provided
• The company’s independent accountant/auditor
• The primary products(s) and/or services (s) of the corporation
SECTION 2: BALANCE SHEET ANALYSIS
1. Using elements listed on your company’s balance sheet, prepare a common size balance sheet using the following format. (Vertical Analysis Chapter 5)
COMPANY #1
Account
Current Year
%
Prior Year
‘ %
COMPANY #2
Account
Current Year
%
Prior Year
‘ %
2. Using elements listed on your company’s balance sheet calculate the increase or decrease in dollars and percent between the years using the following format. (Year to Year Change Analysis Chapter 5)
COMPANY #1
Account
Current Year
Prior Year
+/- $
%
COMPANY #2
Account
Current Year
Prior Year
+/- $
%
3. Using elements listed on your company’s balance sheet calculate the ratios and amounts using two years prior as the base year (100%) using the following format. Your answers should all be in percentages (Horizontal Analysis Chapter 5).
.
A presentation about the Cash Flow Statement ,whole chapter is covered in the slides .one can easily understand the concept of cash flow statement
and a video is also there but link went missing so please search it on youtube by the name of "cash flow statement in 3-min" a beautiful video to understand the basic concept of cash flow statement.In the end a numerical has solved for the better understanding ,which let u fetch marks in your examinations.
Mini Case112018Chapter 2 Mini CaseSituationJenny Cochran, a grad.docxpauline234567
Mini Case11/20/18Chapter 2 Mini CaseSituationJenny Cochran, a graduate of The University of Tennessee with 4 years of experience as an equities analyst, was recently brought in as assistant to the chairman of the board of Computron Industries, a manufacturer of computer components.
During the previous year, Computron had doubled its plant capacity, opened new sales offices outside its home territory, and launched an expensive advertising campaign. Cochran was assigned to evaluate the impact of the changes. She began by gathering financial statements and other data.Computron's Balance Sheets (Millions of Dollars)20182019AssetsCash and equivalents$ 60$ 50Short-term investments10010Accounts receivable400520Inventories620820Total current assets$ 1,180$ 1,400Gross fixed assets$ 3,900$ 4,820Less: Accumulated depreciation1,0001,320Net fixed assets$ 2,900$ 3,500Total assets$ 4,080$ 4,900Liabilities and equityAccounts payable$ 300$ 400Notes payable50250Accruals200240Total current liabilities$ 550$ 890Long-term bonds8001,100Total liabilities$ 1,350$ 1,990Common stock1,0001,000Retained earnings1,7301,910Total equity$ 2,730$ 2,910Total liabilities and equity$ 4,080$ 4,900Computron's Income Statement (Millions of Dollars)20182019Net sales$ 5,500$ 6,000Cost of goods sold (Excluding depr. & amort.)4,3004,800Depreciation and amortizationa290320Other operating expenses350420Total operating costs$ 4,940$ 5,540Earnings before interest and taxes (EBIT)$ 560$ 460Less interest 68108Pre-tax earnings$ 492$ 352Taxes (25%)12388Net Income $ 369$ 264Notes:a Computron has no amortization charges.Other Data20182019Stock price$50.00$30.00Shares outstanding (millions)100100Common dividends (millions)$90$84Tax rate25%25%Weighted average cost of capital (WACC)10.00%10.00%Computron's Statement of Cash Flows (Millions of Dollars)
Bart Kreps: The statement of cash flows provides information about cash inflows and outflows during an accounting period.
2019Operating Activities Net Income before preferred dividends$ 264Noncash adjustments Depreciation and amortization320Due to changes in working capital Change in accounts receivable(120) Change in inventories(200) Change in accounts payable100 Change in accruals40Net cash provided by operating activities$ 404Investing activities Cash used to acquire fixed assets$ (920)
Bart Kreps: Make sure to add back annual Depreciation to Net PP&E.
Bart Kreps: The statement of cash flows provides information about cash inflows and outflows during an accounting period.
Change in short-term investments90Net cash provided by investing activities$ (830)Financing Activities Change in notes payable$ 200 Change in long-term debt300 Payment of cash dividends(84)Net cash provided by financing activities$ 416Net change in cash.
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
Variables in a Research Study and Data CollectionIn this assignmen.docxdaniahendric
Variables in a Research Study and Data Collection
In this assignment, you will explore the variables involved in a research study.
Complete the following tasks:
Read the following articles from the Cumulative Index to Nursing and Allied Health Literature (CINAHL) Database in the South University Online Library.
Lee, A., Craft-Rosenberg, M. (2010). Ineffective family participation in
professional care: A concept analysis of a proposed nursing
diagnosis.
Nurs Diagn
. 2002 Jan-Mar;
13
(1), 5–14.
Witt, C. M., Lüdtke, R., Willich, S. N. (2010). Homeopathic treatment
of patients with migraine: A prospective observational study with
a 2-year follow-up period.
J Altern Complement Med
. 2010 Apr;
16
(4), 347–55. doi: 10.1089/acm.2009.0376.
Read the process for data collection employed in both these studies. Compare the method used in each of them.
Provide a bulleted list of the five tasks performed as part of data collection in each of them. Click
here
to enter your responses in the organizer.
.
Variation exists in virtually all parts of our lives. We often see v.docxdaniahendric
Variation exists in virtually all parts of our lives. We often see variation in results in what we spend (utility costs each month, food costs, business supplies, etc.). Consider the measures and data you use (in either your personal or job activities). When are differences (between one time period and another, between different production lines, etc.) between average or actual results important? How can you or your department decide whether or not the observed differences over time are important? How could using a mean difference test help?
.
Valerie Matsumoto's "Desperately Seeking "Deirde": Gender Roles, Multicultural Relations, and Nisei Women Writers of the 1930s," focuses on the writings of Deirde, a second generation Japanese American advice columnist. But as the abstract of this piece suggests, Matsumoto was not so much interested in the advice Deirde was giving her readers as much as she was interested in the questions her readers were asking the "Dear Abby"of their community in the mid-1930s to early 1940s. What were they asking about? From Deidre's columns, what were some of the concerns of the Japanese-American community during 1935-1941? While it is of extreme importance to study the experience of the Japanese-Americans during World War II , Matsumoto argues that it is also of importance to study the pre-war lives of Japanese-Americans. Why? What did these concerns reveal about the Japanese-American experience in the United States during this time period?
.
valerie is a 15 year old girl who has recently had signs of a high f.docxdaniahendric
valerie is a 15 year old girl who has recently had signs of a high fever, her parents took her to the ER and the test results say she has a bacterial infection and her white blood cells are trapping bacteria it is not binding with the vacuole and releasing necessarg enzymes to break the cell wall. What disease does valerie have?
.
Utilizing the Statement of Financial Position on page 196 of the Acc.docxdaniahendric
Utilizing the Statement of Financial Position on page 196 of the Accounting Fundamentals for Health Care Management text book (see attachement), compare the figures for 2013 and 2012. Compose a narrative of possible explanations for the documented charges in the year-end figures for the organization. Your response should be a minimum of 200 words in length and submitted in a Word document, utilizing APA format.
See attachment referencing Statement of Financial Position
.
Utech Company has income before irregular items of $307,500 for the .docxdaniahendric
Utech Company has income before irregular items of $307,500 for the year ended December 31, 2014. It also has the following items (before considering income taxes): (1) an extraordinary fire loss of $53,000 and (2) a gain of $27,100 from the disposal of a division. Assume all items are subject to income taxes at a 39% tax rate.
Prepare Utech Company’s income statement for 2014, beginning with “Income before irregular items.”
.
Using your work experience in the public and nonprofit sector, and t.docxdaniahendric
Using your work experience in the public and nonprofit sector, and the knowledge you have gained in this MPA program as a guide, address the following question in a detailed fashion:
What methods, specifically, have citizens utilized to influence and become involved in the budgeting and financial management arenas in the public sphere? Which movements or strategies have been most successful from a citizen perspective? To what degree do budgeting professionals and public administrators seek and consider this citizen involvement? What will be the trend for the future with regard to citizen participation in the process?
.
Using your textbook, provide a detailed and specific definition to.docxdaniahendric
Using your textbook, provide a detailed and specific definition to the following terms:
Transformation Leadership
Transactional Leadership
Laissez-Faire Leadership
Idealized Influence
Inspirational Motivation
Intellectual Stimulation
Idealized Consideration
Contingent Reward
Management by Exception
Kouzes and Posner wrote a book entitled the
Leadership Challenge
in which they identified five practices of exemplary leaders. Using your textbook and Internet sources, discuss the five practices and give examples of leadership behaviors that would illustrate the practice. (1 page minimum)
.
Using your text and at least one scholarly source, prepare a two to .docxdaniahendric
Using your text and at least one scholarly source, prepare a two to three page paper (excluding title and reference page), in APA format, on the following:
Explain the difference between Charity Care and Bad Debt in a healthcare environment.
Explain how the patient financial services personnel assist in determining which category the uncollectible account should be placed.
Discuss the financial implications of gross uncollectibles on the bottom line of the healthcare institution, and explain how these are recorded on the financial statements.
This is the textbook that we are on:
Epstein, L. & Schneider, A. (2014).
Accounting for Health Care Professionals
. San Diego, CA: Bridgepoint Education, Inc.
.
Using Walgreen Company as the target organization complete the.docxdaniahendric
Using
Walgreen Company
as the target organization complete the following three-step process:
First, conduct an external assessment and complete either an EFE or CPM. Use the following five websites in conducting your assessment:
http://marketwatch.com
www.hoovers.com
http://moneycentral.msn.com
http://us.etrade.com/e/t/invest/markets
http://globaledge.msu.edu/industries
Second, conduct an internal assessment and complete an IFE. Use the following documents, which may be found in the target organization’s corporate website:
Most current Form10K document
Most current Annual Report
Then develop a well-written paper describing the findings that you discovered by
analyzing the data
from the external assessment and from the internal assessment.
Present facts.
Consider putting some of the data into a graphical display (chart, figure, table) to present information in a clear way. Use citations to substantiate your ideas. Insert the completed matrixes as appendixes and reference them within the body of the paper according to APA standards.
Your paper should meet the following requirements:
Be 2-3 pages in length
Be formatted according to
APA GUIDELINES
Cite a minimum of three outside sources.
Include all required elements, including a reference page and required appendixes.
.
Using the text book and power point on Interest Groups, please ans.docxdaniahendric
Using the text book and power point on Interest Groups, please answer 3 of the 4 following questions.
1. Define and explain the relationship in power between interest groups and political parties.
2. Identify the different types of interest groups. Which interest groups are most powerful in Oregon? 3. What are the roles of interest groups and different tactics used by interest groups.
4. What is a lobbyist? What do they do?
I attached the powerPoint.
.
Using the template provided in attachment create your own layout.R.docxdaniahendric
Using the template provided in attachment create your own layout.
Review the Goals
Who is the Persona you are trying to reach?
Use the "How to Change Consumer Behavior" file
Integrate social media
A Twitter feed needs to be on the Home Page
Use a Site Architecture Excel File to let the IT Developer know sub menus
Simplify wherever you can. What is the 1 message you want the viewer to remember?
.
Using the simplified OOD methodologyWrite down a detailed descrip.docxdaniahendric
Using the simplified OOD methodology:
Write down a detailed description of the problem.
Identify all the (relevant) nouns and verbs.
From the list of nouns, select the objects. Identify the data components of each object.
From the list of verbs, select the operations.
Write a short paper in response to the following prompt:
Your local police department wants to design new software to keep track of people, property, and criminal activity. List at least three classes you think should be in the design. For each class, identify some data members and methods.
.
Using the text, Cognitive Psychology 5 edition (Galotti, 2014), .docxdaniahendric
Using the text,
Cognitive Psychology 5 edition
(Galotti, 2014), the University Library, the Internet, and/or other resources, answer the following questions. Your response to each question should be at least 150 words in length.
1.
What is primary memory? What are the characteristics of primary memory?
2.
What is the process of memory from perception to retrieval? What happens when the process is compromised?
3.Is it possible for memory retrieval to be unreliable? Why or why not? What factors may affect the reliability of one’s memory?
.
Using the Tana Basin in Kenya,1.Discuss the water sources and .docxdaniahendric
Using the Tana Basin in Kenya,
1.
Discuss the water sources and their quality - ( 5 marks)
2.
Outline the factors that influence their potential uses - (5 marks)
3.
Identify and map the current users of water in the catchment - (15 marks)
4.
Map the potential source of pollution in the catchment - (5 marks)
Need three pages APA format.
.
Using the template provided in a separate file, create your own la.docxdaniahendric
Using the template provided in a separate file, create your own layout.
Review the Goals
Who is the Persona you are trying to reach?
Use the "How to Change Consumer Behavior" file
Integrate social media
A Twitter feed needs to be on the Home Page
Use a Site Architecture Excel File to let the IT Developer know sub menus
Simplify wherever you can. What is the 1 message you want the viewer to remember?
.
Using the template provided in attachment create your own layo.docxdaniahendric
Using the template provided in attachment create your own layout.
Review the Goals
Who is the Persona you are trying to reach?
Use the "How to Change Consumer Behavior" file
Integrate social media
A Twitter feed needs to be on the Home Page
Use a Site Architecture Excel File to let the IT Developer know sub menus
Simplify wherever you can. What is the 1 message you want the viewer to remember?
.
Using the Sex(abled) video, the sexuality section in the Falvo text.docxdaniahendric
Using the "Sex(abled) video, the sexuality section in the Falvo text (Chapter 12), and your own thoughts and experiences as context, describe prominent issues related to forming intimate relationships by people with intellectual disabilities. You may consider the viewpoints from caregivers and family members, educators, societal attitudes, counselors or support personnel, and viewpoints from people with disabilities. You may include disabilities outside of intellectual disabilities if you wish.
Watch Video: Sexuality and Relationships
.
Using the required and recommended resources from this week and last.docxdaniahendric
Using the required and recommended resources from this week and last, as well as ‘found’ resources, identify at least one specific example of groups or individuals in your community, state, or at the national level that exemplify the following themes and include a brief description of why you feel this example meets the concept. Add a link for any ‘found’ resources.
Works “with” young people rather than conducting activities “for” them.
Creates an atmosphere that sparks young people’s aspirations.
Digs deep and incorporates key elements of authentic youth involvement by making sure that:
Youth are valued and heard
Youth shape the action agenda
Youth build assets for and with each other
Why is it important for programs and or organizations to work “with” young people rather than “for” them?
.
Using the Internet, textbook or related resources, research the crea.docxdaniahendric
Using the Internet, textbook or related resources, research the creation and role of the Federal Reserve. Then in a 1-2 page paper, address the following:
When was the Federal Reserve created and for what purpose?
How does the Federal Reserve manipulate our economy to foster economic growth?
Research at
least three
specific policies instituted by the Federal Reserve.
Finally give an analysis as to why or why not you feel these policies were successful. Remember to support your position with cited sources
Due Sunday 11/30/14 at 11am CST, in APA format with APA bibliography
.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Basic Civil Engineering Notes of Chapter-6, Topic- Ecosystem, Biodiversity Green house effect & Hydrological cycle
Types of Ecosystem
(1) Natural Ecosystem
(2) Artificial Ecosystem
component of ecosystem
Biotic Components
Abiotic Components
Producers
Consumers
Decomposers
Functions of Ecosystem
Types of Biodiversity
Genetic Biodiversity
Species Biodiversity
Ecological Biodiversity
Importance of Biodiversity
Hydrological Cycle
Green House Effect
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
1. ACCT 212
Individual Learning Project Questions
Name____Example____________
General Information:
1. What is the name of your corporation? Kraft Foods Group
2. Where are the corporate headquarters? Northfield, IL
3. What is the corporation’s fiscal year end? 12/27/2014
4. What are the primary products or services of the corporation?
“We manufacture and market food and beverage products,
including cheese, meats, refreshment beverages, coffee,
packaged dinners, refrigerated meals, snack nuts, dressings, and
other grocery products.” [10-K, page 1]
5. Graph the high and low price of the company’s stock for each
quarter of the last two years. What was the high and what was
the low?
The high was $91.32; the low was $55.93
[https://finance.google.com/finance/historical?cid=66781995049
2168&startdate=Jul%201%2C%202013&enddate=Jun%2030%2
C%202015&ei=LFsPWuCyONPEmAGh2YDgDw&start=0&num
=30. For existing companies, Yahoo Finance is a better option
though, because you can group the historical prices by month
rather than by day, meaning you only have to look at 3 lines to
determine the overall high/low instead of 65 lines]
6. Who is the company’s transfer agent and where are they
located? Wells Fargo Bank, N.A. [Definitive Proxy Statement,
page 70; some companies will include this in the 10-K, or there
are websites where you can look it up as well – www.stai.org is
a good one]
7. Who are your company’s competitors? Large national and
2. international companies and numerous local and regional
companies, generic products and retailer brands, wholesalers,
and cooperatives [10-K, page 4]
Market Information:
8. On which stock exchange is your corporation’s stock traded?
NASDAQ [10-K, page 1]
9. What is the current market price of their stock? $88.19 [This
is the final stock price before the merger with Heinz – found on
Kraft’s website, although for current companies, it will be
available on almost any financial website]
10. What is the ticker symbol used to identify your corporation
on the stock exchange? KRFT
Internet Information:
11. What is the Internet address of your corporation? Be sure it
appears as a hyperlink. www.kraftheinzcompany.com[This is
the current web address, it would have been different before the
merger]
12. Is the corporation’s Annual Report online? Yes [It is
available in many places – the company’s website,
www.morningstar.com, www.businessweek.com, etc.]
13. Are its financial statements on-line? Yes
14. Is your company listed on Annualreports.com? No [Not
anymore, at least – it probably was before the merger]
15. How long is your company’s 10-K report at the Securities
and Exchange Commission website (Edgar Database)? 171
pages
Cash Flow and Retained Earnings:
16. List the amount of cash flows from each of the 3 activities:
Operating, Investing, and Financing for the 2 most recent years.
What was the increase or decrease in cash for each of these
years?
Category
2014
3. 2013
Operating
2,020 million
2,043 million
Investing
(535 million)
(426 million)
Financing
(1,866 million)
(1,171 million)
Total Increase/(Decrease)
(393 million)
431 million
[10-K, page 38]
17. Were there any Non-Cash Investing/Financing Transactions?
Describe the type and amount. No [If your company does, it
will say so either at the bottom of the cash flow statement, or in
a footnote]
18. What is the dollar difference between accrual net income
and Cash provided by Operations? $977 million [10-K, page
38; 2,020 million operating cash flow minus 1,043 million net
income]
19. What investing activity provided the largest inflow of cash
in the current year? Proceeds from sale of property, plant and
equipment [10-K, page 38]
20. What investing activity used the largest amount of cash in
the current year? Capital Expenditures [10-K, page 38]
21. What financing activity provided the largest inflow of cash
in the current year? Proceeds from stock option exercises [10-
K, page 38]
22. What financing activity used the largest amount of cash in
the current year? Dividends paid [10-K, page 38]
23. Does the company have sufficient cash inflows from the
appropriate category? Describe any problems the company many
experience with cash flow from your analysis of the cash flow
statement. Yes, the company has sufficient cash flows from
4. operating activities. Although operating cash flows have
declined over the past three years, at this time, the company is
still able to fund its investing and financing activities with its
operating cash flows.
24. Show the change in Retained Earnings for the 2 most recent
years. What was net income for each year? How much was paid
out in dividends each year?
Category
2014
2013
Retained Earnings
1,045 million
1,281 million
Net Income
1,043 million
2,715 million
Dividends
1,279 million
1,228 million
[10-K, page 37]
25. Were the dividends on common stock and/or preferred
stock? What was the amount of each? Common stock, $1,279
million [This is based on the fact that the company has only
common stock outstanding; if there were preferred dividends,
they would be on a separate line on the statement of equity]
26. Did Retained Earnings change for any reasons other than net
income or dividends? Explain. No [10-K, page 37]
27. What classes of stock does your company have? Common
[10-K, page 37]
28. How many shares of each class of stock are authorized, how
many are issued, and how many are outstanding? 5 billion
shares authorized, 601,402,816 shares issued, 587,331,944
shares outstanding [10-K, page 47; some companies may
provide all of these numbers on the balance sheet as well]
29. Does your company have any treasury stock? How many
shares and what dollar amount? Yes, 14,070,872 shares at $796
5. million [10-K, page 47 and 36]
30. What is the par or stated value of each of your company’s
stocks? No par value [10-K, page 36]
Footnote Disclosures:
31. How many footnote disclosures does your company have?
16 [10-K, page 69]
32. How many significant accounting policies are listed under
its Summary of Significant Accounting Policies? 18 [10-K,
pages 39-42]
33. What does it include as Cash and Cash Equivalents?
Demand deposits with banks and all highly liquid investments
with original maturities of three months or less [10-K, page 39]
34. What method does it use to value Inventory? Average cost
[10-K, page 39]
35. What method(s) does it use to depreciate its assets?
Straight line [10-K, page 39]
36. Does it have any leased assets? If yes, describe them. Yes,
some property is leased [10-K, page 61-62; Kraft does not
describe the leased property in detail, but provides a schedule of
minimum rental commitments]
37. What policies does it have in regard to Foreign Currency
Translations? “We use various financial instruments to mitigate
our exposure to changes in exchange rates from thire-party and
intercompany actual and forecasted transactions. These
instruments may include forward foreign exchange contracts
and foreign currency options. We primarily use these
instruments to hedge our exposure to the Canadian dollar.
Substantially all of these derivative instruments are highly
effective and qualify for hedge accounting treatment.” [10-K,
page 42]
38. Describe any pending lawsuits in which it is involved. An
investigation by the CFTC related to the trading of December
2011 wheat futures contracts [10-K, page 61]
39. Provide its Earnings per Share for the 2 most recent years?
2014 - $1.75, 2013 - $4.55 [10-K, page 34]
6. Report of the Independent Auditor(s):
40. Who is/are your company’s auditor(s)? Pricewaterhouse
Coopers [10-K, page 33]
41. Where are they located? Chicago, IL [10-K, page 33]
42. Does the auditor(s) give a qualified opinion, an unqualified
opinion, a disclaimer of opinion, or an adverse opinion? What
does that opinion mean? Is it good? The auditor gave an
unqualified opinion. This means that the auditor believes that
the financial statements are presented fairly in accordance with
GAAP. It is a good opinion. [10-K, page 33]
43. What is the auditor’s responsibility in regard to the
financial statements? To express an opinion on the financial
statements based on the audit [10-K, page 33]
44. What is management’s responsibility in regard to the
financial statements? To prepare the financial statements and to
maintain effective internal control over the financial reporting
process [10-K, page 33]
45. What financial statements were included in the auditor’s
opinion? Statement of Earnings, Statement of Comprehensive
Earnings, Balance Sheet, Statement of Equity, Statement of
Cash Flows, Notes to Consolidated Financial Statements [10-K,
page 73; many auditors will list these in the report (p.33), but in
this case, the report references Item 15, which is where this list
is located]
46. Did the auditor believe that the statements were presented
fairly? Yes [10-K, page 33]
Management’s Report:
47. Who bears the responsibility for the integrity and the
objectivity of the financial statements? Management [10-K,
page 70]
48. What does management say they are doing to assure the
public that the financial information is reliable? Establish and
maintain effective internal control over the financial reporting
process [10-K, page 70-71]
7. 49. What is the responsibility of the Audit Committee of the
Board of Directors? Overseeing the accounting and financial
reporting processes and audits of the financial statements
[Definitive Proxy Statement, page 17; some companies will
include this information in the 10-K, while others, like Kraft,
will reference another document]
Analysis: (use Excel to complete this section)
50. Provide common-size analysis of your company’s income
statement and balance sheet for the 2 most recent years (must be
done using Excel with formulas). See Excel document
51. Provide horizontal analysis of your company’s income
statement and balance sheet, showing the dollar amount and
percent of change using the 2 most recent years (you must use
an Excel spreadsheet with formulas). See Excel document
52. Perform ratio analysis on your company using the ratios
listed in Exhibit 13.16 on page 529 of your text (these must be
in an Excel spreadsheet, using formulas to calculate the ratios).
You should present them in a similar format as the text: group
by category, list name of ratio, formula in words, and the ratio
calculation. Give a short explanation of your conclusions about
your company after each category of ratios (i.e. How liquid is
your company? How efficiently is it using its assets? etc.). See
Excel document
Conclusions:
53. Are you optimistic or pessimistic regarding the future of
your chosen corporation? Explain. I am optimistic about the
future of Kraft Foods. While the company is very highly
leveraged, they are well-established and generating strong
profits and cash flows.
54. Would you invest in the stock of the company? Explain.
Yes, I would invest in Kraft Foods stock. Although profits did
decline from 2013 to 2014, the company remains very
profitable, with a return on equity of 22% and profit margin and
8. return on assets that exceed industry averages. The company
also provides a high dividend yield of 2.4%. While the
efficiency and solvency ratios would be a concern as a stock
investor, making the stock more risky, the high returns make the
investment worthwhile.
55. Would you invest in the bonds of the company? Explain.
No, I would not invest in Kraft Foods bonds. While they do
have sufficient returns to cover interest payments, with times
interest earned of 3.9 times, the low liquidity and high debt-to-
equity ratios make the company a high risk for bondholders. I
would want a higher return than bonds offer in order to accept
that level of risk.
[Note that these conclusions are not “right” or “wrong” – you
might conclude that you would do just the opposite and invest
in bonds, but not stocks. The conclusions should be yours, but
they must be supported by your analysis, including relevant
items from the Excel analysis.]
KRFT Stock Price by Quarter
High Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4
2014 Q1 2015 Q1 2015 58.76 55.93 56.56 60.24
61.1 64.47 90.61 91.32 Low Q3 2013 Q4
2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q1
2015 51.2 51.72 50.54 55.47 53.33 53.63
60.28 82.94
Page 4 of 5
Bal ShtKraft Foods Group, Inc.Consolidated Balance Sheets(in
millions of U.S. dollars)Common Size AnalysisHorizontal
AnalysisDecember 27, 2014December 28, 201320142013$
Change% ChangeASSETSCash and cash equivalents$ 1,293$
9. 1,6865.63%7.28%$ (393)-23.31%Receivables (net of
allowances of $21 in 2014 and $26 in
2013)1,0801,0484.71%4.53%323.05%Inventories1,7751,6167.7
4%6.98%1599.84%Deferred income
taxes3843601.67%1.56%246.67%Other current
assets2591981.13%0.86%6130.81%Total current
assets4,7914,90820.88%21.20%(117)-2.38%Property, plant and
equipment,
net4,1924,11518.27%17.78%771.87%Goodwill11,40411,50549.
70%49.70%(101)-0.88%Intangible assets,
net2,2342,2299.74%9.63%50.22%Other
assets3263911.42%1.69%(65)-16.62%TOTAL ASSETS$
22,947$ 23,148100.00%100.00%$ (201)-
0.87%LIABILITIESCurrent portion of long-term debt$ 1,405$
46.12%0.02%$ 1,40135025.00%Accounts
payable1,5371,5486.70%6.69%(11)-0.71%Accrued
marketing5116852.23%2.96%(174)-25.40%Accrued
employment costs1631840.71%0.79%(21)-11.41%Dividends
payable3243131.41%1.35%113.51%Accrued postretirement
health care costs1921970.84%0.85%(5)-2.54%Other current
liabilities6414792.79%2.07%16233.82%Total current
liabilities4,7733,41020.80%14.73%1,36339.97%Long-term
debt8,6279,97637.60%43.10%(1,349)-13.52%Deferred income
taxes3406621.48%2.86%(322)-48.64%Accrued pension
costs1,1054054.82%1.75%700172.84%Accrued postretirement
health care costs3,3993,08014.81%13.31%31910.36%Other
liabilities3384281.47%1.85%(90)-21.03%TOTAL
LIABILITIES18,58217,96180.98%77.59%6213.46%Commitmen
ts and Contingencies (Note 11)EQUITYCommon stock, no par
value (5,000,000 shares authorized; 601,402,816 shares issued
at December 27, 2014 and 596,843,449 at December 28, 2013)-
0- 00.00%0.00%- 0Additional paid-in
capital4,6784,43420.39%19.16%2445.50%Retained
earnings1,0451,2814.55%5.53%(236)-18.42%Accumulated other
comprehensive losses(562)(499)-2.45%-
2.16%(63)12.63%Treasury stock, at cost(796)(29)-3.47%-
10. 0.13%(767)2644.83%TOTAL
EQUITY4,3655,18719.02%22.41%(822)-15.85%TOTAL
LIABILITIES AND
EQUITY22,94723,148100.00%100.00%(201)-0.87%[Source:
10-K, page 36]
Inc StmtKraft Foods Group, Inc.Consolidated Statements of
Earnings(in millions of U.S. dollars)For the Years
EndedCommon Size AnalysisHorizontal AnalysisDecember 27,
2014December 28, 201320142013$ Change% ChangeNet
revenues$ 18,205$ 18,218100.00%100.00%$ (13)-
0.07%Cost of
sales13,36011,39573.39%62.55%1,96517.24%Gross
profit4,8456,82326.61%37.45%(1,978)-28.99%Selling, general
and administrative
expenses2,9562,12416.24%11.66%83239.17%Asset impairment
and exit costs(1)108-0.01%0.59%(109)-100.93%Operating
income1,8904,59110.38%25.20%(2,701)-58.83%Interest and
other expense, net(484)(501)-2.66%-2.75%17-3.39%Royalty
income from Mondelez International- 0- 00.00%0.00%-
0Earnings before income taxes1,4064,0907.72%22.45%(2,684)-
65.62%Provision for income taxes3631,3751.99%7.55%(1,012)-
73.60%Net earnings$ 1,043$ 2,7155.73%14.90%$ (1,672)-
61.58%[Source: 10-K, page 34]
RatioRatioFormulaCalculationLiquidity and EfficiencyCurrent
Ratio= Current assets / Current liabilities1.00Acid-test ratio=
Cash + Short-term investments + Current receivables / Current
liabilities0.50Accounts receivable turnover= Net sales /
Average accounts receivable, net17.11timesInventory turnover=
Cost of goods sold / Average inventory7.88timesDays' sales
uncollected= Accounts receivable, net / Net sales *
36521.65daysDays' sales in inventory= Ending inventory / Cost
of goods sold *36548.49daysTotal asset turnover= Net sales /
Average total assets0.79timesKraft Foods has low liquidity,
with a current ratio of 1 and an acid-test ratio of 0.5, although
this is in line with industry standards. Kraft Foods is also not
very efficient, with inventory turnover of 7.88 times, which is
11. well below the industry average of 11.15 times, and total asset
turnover of .79 times compared to an industry average of 1.76
times.SolvencyDebt ratio= Total liabilities / Total
assets0.81Equity ratio= Total equity / Total assets0.19Debt-to-
equity ratio= Total liabilities / Total equity4.26Times interest
earned= Income before interest expense and income taxes /
Interest expense3.90timesKraft Foods has very high debt and
debt-to-equity ratios. Times interest earned of almost four
times means that there is not an immediate risk of default, but
the company is very highly leveraged, which is risky for
investors.ProfitabilityProfit margin ratio= Net income / Net
sales6%Gross margin ratio= Net sales - Cost of goods sold / Net
sales27%Return on total assets= Net income / Average total
assets5%Return on common stockholders' equity= Net income -
Preferred dividends / Average common stockholders'
equity22%Book value per common share= Shareholders' equity
applicable to common shares / Number of common shares
outstanding$ 7.43Basic earnings per share= Net income -
Preferred dividends / Weighted-average common shares
outstanding$ 1.76[Weighted Average shares outstanding found
in 10-K, Note 14]Kraft Foods has strong profitability. Profit
margin of 6% and return on total assets of 5% are both more
than double the industry averages of 3.5% and 2%. Return on
equity of 22% is significantly stronger than the industry average
of 7.9%.Market ProspectsPrice-earnings ratio= Market price per
common share / Earnings per share50.14timesDividend yield=
Annual cash dividends per share / Market price per
share2.4%[Dividends per share found on Income
Statement]Kraft Foods has a high P/E ratio at 50 times earnings,
indicating that high growth is expected [this is likely because of
the merger with Heinz that had been announced by the time
Kraft Foods shares stopped trading]. A dividend yield of 2.4%
is a strong return for investors interested in income.
GraphQuarterHighLowQ3 2013$ 58.76$ 51.20Q4 2013$
55.93$ 51.72Q1 2014$ 56.56$ 50.54Q2 2014$ 60.24$
55.47Q3 2014$ 61.10$ 53.33Q4 2014$ 64.47$ 53.63Q1
12. 2015$ 90.61$ 60.28Q1 2015$ 91.32$ 82.94
KRFT Stock Price by Quarter
High Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4
2014 Q1 2015 Q1 2015 58.76 55.93 56.56 60.24
61.1 64.47 90.61 91.32 Low Q3 2013 Q4
2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q1
2015 51.2 51.72 50.54 55.47 53.33 53.63
60.28 82.94
KRFT Stock Price by Quarter
High Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4
2014 Q1 2015 Q1 2015 58.76 55.93 56.56 60.24
61.1 64.47 90.61 91.32 Low Q3 2013 Q4
2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q1
2015 51.2 51.72 50.54 55.47 53.33 53.63
60.28 82.94
ACCT 212
Individual Learning Project Questions
Name_______________________________
General Information:
1. What is the name of your corporation?
2. Where are the corporate headquarters?
13. 3. What is the corporation’s fiscal year end?
4. What are the primary products or services of the corporation?
5. Graph the high and low price of the company’s stock for each
quarter of the last two years. What was the high and what was
the low?
6. Who is the company’s transfer agent and where are they
located?
7. Who are your company’s competitors?
Market Information:
8. On which stock exchange is your corporation’s stock traded?
9. What is the current market price of their stock?
10. What is the ticker symbol used to identify your corporation
on the stock exchange?
Internet Information:
11. What is the Internet address of your corporation? Be sure it
appears as a hyperlink.
12. Is the corporation’s Annual Report online?
13. Are its financial statements on-line?
14. Is your company listed on Annualreports.com?
15. How long is your company’s 10-K report at the Securities
and Exchange Commission website (Edgar Database)?
Cash Flow and Retained Earnings:
16. List the amount of cash flows from each of the 3 activities:
Operating, Investing, and Financing for the 2 most recent years.
What was the increase or decrease in cash for each of these
years?
17. Were there any Non-Cash Investing/Financing Transactions?
Describe the type and amount.
18. What is the dollar difference between accrual net income
and Cash provided by Operations?
19. What investing activity provided the largest inflow of cash
in the current year?
20. What investing activity used the largest amount of cash in
14. the current year?
21. What financing activity provided the largest inflow of cash
in the current year?
22. What financing activity used the largest amount of cash in
the current year?
23. Does the company have sufficient cash inflows from the
appropriate category? Describe any problems the company many
experience with cash flow from your analysis of the cash flow
statement.
24. Show the change in Retained Earnings for the 2 most recent
years. What was net income for each year? How much was paid
out in dividends each year?
25. Were the dividends on common stock and/or preferred
stock? What was the amount of each?
26. Did Retained Earnings change for any reasons other than net
income or dividends? Explain.
27. What classes of stock does your company have?
28. How many shares of each class of stock are authorized, how
many are issued, and how many are outstanding?
29. Does your company have any treasury stock? How many
shares and what dollar amount?
30. What is the par or stated value of each of your company’s
stocks?
Footnote Disclosures:
31. How many footnote disclosures does your company have?
32. How many significant accounting policies are listed under
its Summary of Significant Accounting Policies?
33. What does it include as Cash and Cash Equivalents?
34. What method does it use to value Inventory?
35. What method(s) does it use to depreciate its assets?
36. Does it have any leased assets? If yes, describe them.
37. What policies does it have in regard to Foreign Currency
Translations?
38. Describe any pending lawsuits in which it is involved.
39. Provide its Earnings per Share for the 2 most recent years?
15. Report of the Independent Auditor(s):
40. Who is/are your company’s auditor(s)?
41. Where are they located?
42. Does the auditor(s) give a qualified opinion, an unqualified
opinion, a disclaimer of opinion, or an adverse opinion? What
does that opinion mean? Is it good?
43. What is the auditor’s responsibility in regard to the
financial statements?
44. What is management’s responsibility in regard to the
financial statements?
45. What financial statements were included in the auditor’s
opinion?
46. Did the auditor believe that the statements were presented
fairly?
Management’s Report:
47. Who bears the responsibility for the integrity and the
objectivity of the financial statements?
48. What does management say they are doing to assure the
public that the financial information is reliable?
49. What is the responsibility of the Audit Committee of the
Board of Directors?
Analysis: (use Excel to complete this section)
50. Provide common-size analysis of your company’s income
statement and balance sheet for the 2 most recent years (must be
done using Excel with formulas).
51. Provide horizontal analysis of your company’s income
statement and balance sheet, showing the dollar amount and
percent of change using the 2 most recent years (you must use
an Excel spreadsheet with formulas).
52. Perform ratio analysis on your company using the ratios
listed in Exhibit 13.16 on page 505 of your text (these must be
in an Excel spreadsheet, using formulas to calculate the ratios).
16. You should present them in a similar format as the text: group
by category, list name of ratio, formula in words, and the ratio
calculation. Give a short explanation of your conclusions about
your company after each category of ratios (i.e. How liquid is
your company? How efficiently is it using its assets? etc.).
Conclusions:
53. Are you optimistic or pessimistic regarding the future of
your chosen corporation? Explain.
54. Would you invest in the stock of the company? Explain.
55. Would you invest in the bonds of the company? Explain.
Page 3 of 3
ACCT 212
Individual Learning Project Instructions
This project will allow you the opportunity to explore a
company’s annual report and become familiar with the items it
contains. Choose a company from Standard & Poor’s Net
Advantage whose company’s name begins with the same letter
as your last name. Locate the most recent annual report, either
from the Liberty University library’s access to Standard &
Poor’s website, the EDGAR database (http://www.sec.gov/), or
the company’s website. Once located, open Individual Learning
Project Questions document and add your answers underneath
each question. Do not delete the questions. Questions 1–49 must
be answered with Microsoft Word. Your answers for these do
not need to be in complete sentences. Questions 50–52 must be
answered in Microsoft Excel and your answers must include
formulas. Questions 53–55 must be answered with complete
sentences and justification within the Word document. Both
documents (Word and Excel) must be uploaded into the
Assignment link.
To access the Liberty University Library online resources from
off campus:
17. · From the Blackboard log-in page, right-hand side
“Quicklinks” pull-down menu -- choose “Library.”
· Click log-in button. Off-site access cannot be gained unless
the user successfully completes the log-in.
· This must take you to the “Library Research Portal”; if not,
click on “Portal.”
· Click on the “databases” tab.
· Click on the “Databases by Letter,” and select the letter “S.”
· Scroll down until you see “Standard & Poor’s NetAdvantage.”
· Click on the link and then you may begin your search.
Tips for choosing a company:
· This project will be easier and more meaningful if you select a
company that you have heard of before and one whose basic
operations you are familiar with.
· If the company you select is no longer in operation, either
because they have been acquired, been through bankruptcy, etc.,
it is not an appropriate selection; if you want to do a company
that has been acquired, you may do the project on the new
parent company instead – please clear this with your instructor
in advance if the parent company does not begin with the same
letter as your last name.
· Locate the company’s annual report before you begin
substantial work on the project! That way, if you run into an
issue mentioned above, you will not need to start over. The
company you choose needs to have issued a 10-K/Annual Report
within the past year.
This assignment is due by 11:59 p.m. (ET) on Monday of
Module/Week 7.