Step 1: After you have logged in, click on “getting started” Step 2: Watch the introductory video for a detailed description of how to play the game. Step 3: Click on the “Examination Guide” which will introduce you to your Comp-XM® business Step 4: Click on and read each heading to learn about the simulation, board queries, scoring, getting setup, and decisions Step 5: Next, Click on Exam Dashboard to begin Round 1 Step 6: Click ‘Make Decisions’ to begin Step 6: Finally, review this youtube video on how to do the rounds. (URL http://www.youtube.com/watch?v=yjKTzfaR3No ) InstructionsFinSAS Version 2008010211FinSAS: Financial Statement Analysis SpreadsheetbyDr. Donald V. Saftner[email protected]To AccompanyFinancial Reporting and Analysis:Using Financial Accounting Information11/eby Dr. Charles GibsonCopyright © 2009 Cengage LearningAll rights reservedFinSAS: Financial Statement Analysis Spreadsheet allows users to input the reported data from the financial statements, notes, and other sources. FinSAS then computes the ratios found in Financial Reporting and Analysis: Using Financial Accounting Information 11/e. Using this tool, you can spend more time analyzing the statements and less time crunching the numbers. In addition to the ratios, both a vertical and horizontal analysis are performed.Instructions:Note the sheet tabs below. The following instructions use the names of those tabs as section headings. Click on a tab to see that sheet after reading the instructions below.InputOn the Input sheet, enter values into all appropriate cells (i.e., those with blue font). The figures in black font are calculated based on your input. By entering the Company Name, Analyst Name(s), and Most Recent Year Available in the first three input cells, those items will appear on all subsequent output sheets. They make it easy to identify any printouts you make.The next two input cells (Years Available for Income Statement and Balance Sheet) are particularly important to the functioning of the model. Changing these numbers (while keeping them within the range one through five) changes the number of columns of data that are available on the Input sheet and all subsequent output sheets. In a single annual report/10K, there are often three years of income statements and two years of balance sheets. The annual report/10K you are using may have more and/or you may want to use multiple years’ worth of annual report/10Ks to increase the amount of data available to analyze. The maximum years that FinSAS can accept is five years.Fill in all remaining input cells for which you can find data. There are many different names for the same account. You must translate the terminology used by the company to the generic terms used in FinSAS. When the detail is not needed, FinSAS requests a summary figure. For instance, on the published income statement there may be several operating expenses (e.g., wages, utilities, rent), but FinSAS only n.

1. Step 1: After you have logged in, click on “getting started”
Step 2: Watch the introductory video for a detailed description
of how to play the game.
Step 3: Click on the “Examination Guide” which will introduce
you to your Comp-XM® business
Step 4: Click on and read each heading to learn about the
simulation, board queries, scoring, getting setup, and decisions
Step 5: Next, Click on Exam Dashboard to begin Round 1
Step 6: Click ‘Make Decisions’ to begin
Step 6: Finally, review this youtube video on how to do the
rounds. (URL http://www.youtube.com/watch?v=yjKTzfaR3No )

2. InstructionsFinSAS Version 2008010211FinSAS: Financial
Statement Analysis SpreadsheetbyDr. Donald V.
Saftner[email protected]To AccompanyFinancial Reporting and
Analysis:Using Financial Accounting Information11/eby Dr.
Charles GibsonCopyright © 2009 Cengage LearningAll rights
reservedFinSAS: Financial Statement Analysis Spreadsheet
allows users to input the reported data from the financial
statements, notes, and other sources. FinSAS then computes the
ratios found in Financial Reporting and Analysis: Using
Financial Accounting Information 11/e. Using this tool, you can
spend more time analyzing the statements and less time
crunching the numbers. In addition to the ratios, both a vertical
and horizontal analysis are performed.Instructions:Note the
sheet tabs below. The following instructions use the names of
those tabs as section headings. Click on a tab to see that sheet
after reading the instructions below.InputOn the Input sheet,
enter values into all appropriate cells (i.e., those with blue
font). The figures in black font are calculated based on your
input. By entering the Company Name, Analyst Name(s), and
Most Recent Year Available in the first three input cells, those
items will appear on all subsequent output sheets. They make it
easy to identify any printouts you make.The next two input cells
(Years Available for Income Statement and Balance Sheet) are
particularly important to the functioning of the model.
Changing these numbers (while keeping them within the range
one through five) changes the number of columns of data that
are available on the Input sheet and all subsequent output
sheets. In a single annual report/10K, there are often three
years of income statements and two years of balance sheets.
The annual report/10K you are using may have more and/or you
may want to use multiple years’ worth of annual report/10Ks to
increase the amount of data available to analyze. The maximum
years that FinSAS can accept is five years.Fill in all remaining
input cells for which you can find data. There are many
different names for the same account. You must translate the

3. terminology used by the company to the generic terms used in
FinSAS. When the detail is not needed, FinSAS requests a
summary figure. For instance, on the published income
statement there may be several operating expenses (e.g., wages,
utilities, rent), but FinSAS only needs the sum of those, which
would be entered as Operating Expenses. Be sure to read the
footnotes to the financial statements and the comparative data
section. Those sources include some of the information you
need to complete the Input sheet. Also be sure to match key
subtotals (e.g. the FinSAS total current asset should be same as
the figure on the balance sheet even though the detail lines may
be different.)Be consistent in ignoring a certain number of
decimal places. Many financial statements have "in thousands,
except par values," "millions except share and per share
amounts," or similar statements. When entering data into
FinSAS, it is usually best to follow the same convention as the
financial statements in choosing the number of decimal places
to assume have been removed. An exception is the second
statement above. Only "per share" data should be entered as
dollars with no decimal places removed. Account balances and
total share information should consistently have the same
number of decimal places removed. If the share and account
balances have a different number of decimal places removed
then ratios such as "book value per share" and "operating cash
flow per share" will be inaccurate.Source of InputThis is the
place to document where you found the information you entered
on the previous sheet. This can be very useful for you and for
anyone who reviews your work. For instance if most of it came
from the company's annual report/10K, then state that at the top.
Individual lines of input in FinSAS might be the sum of a few
lines in the published financial statements. Indicate on this
sheet how you determined the FinSAS inputs from the
statements. For some of the inputs, you may have used
information from the footnotes or comparative information
section. Indicate that information on this sheet and include
page numbers wherever possible. Of course, other sources of

4. information should be cited.Vertical AnalysisAfter you insert
your data, you can see the result of the vertical analysis. It
compares each amount on the income statement and balance
sheet with a base amount (net sales on the income statement and
total assets on the balance sheet) selected from the same
year.Horizontal AnalysisAfter you insert your data, you can see
the result of the horizontal analysis. It compares each amount
on the income statement and balance sheet with the same
amount for the oldest year available.Ratios – avg.After you
insert your data, you can see the result of the ratio analysis. For
the ‘Ratio – Average’, the average of beginning of year values
and end of year values is used when appropriate. Note that if
you only have two years of balance sheet information, then for
those ratios that use the average of two years of balance sheet
information, only one year's worth of ratios can be calculated.
Since it is desirable to compare the ratios across time to
determine possible trends, a solution to only having one year's
worth of ratios should be sought. Some possible solutions are
to find additional years' worth of data and/or use the Ratio -
end. sheet.Ratios with a negative cash flow or negative profit
measure in the numerator will display #N/A, which means not
available or not applicable. This makes it less likely that
invalid conclusions will be made during your analysis.You may
want to determine how a certain ratio is calculated. You may
do this in one of two ways. If you select the cell in which the
ratio appears, then the formula for that cell appears near the top
of the screen. You will then have to determine what accounts
the cell refers to by looking at the Input screen. Alternatively,
you can refer to the Documentation screen for the
definition.Ratios – end.For the ‘Ratio – End’, the end of year
values are used instead of the average values. The ‘*’ marks
indicate the ratios for which the end of year values are used
whereas the averages are used on the previous sheet.For the
Ratios - end. sheet, the end of year values are used instead of
the average values. The ‘*’ marks indicate the ratios for which
the end of year values are used whereas the averages are used

5. on the previous sheet. Note that the Ratios - avg. sheet is
theoretically superior in that averages for balance sheet
information (point in time) is compared to income statement or
cash flow statements (period of time).DocumentationThe
Documentation sheet provides you the definitions of the ratios
using the row labels of the Input sheet or other ratio results.
&CCopyright © 2009 Cengage Learning
[email protected]
Input12345FinSAS Version
2008010211InputCompany:Company name hereAnalyst:Your
name(s) hereMost Recent Year Available:2008Years Available
for:Income Statement (1-5)5Balance Sheet (1-
5)5======INCOME STATEMENT20082007200620052004-----
-Net Sales00000Less: Cost of Goods Sold00000-----Gross
Profit00000Other Operating Revenue00000Less: Operating
Expenses00000-----Operating Income00000Less: Interest
Expense00000(no capitalized interest)Other Income
(Expenses)00000Unusual or Infreq. Item;Gain
(Loss)00000Equity in Earnings of Assoc.;Profit (Loss)00000----
-Income before Taxes00000Less:Taxes Related to
Operations00000-----N.I. before Min. Ern.00000Minority Share
of Earnings (Loss)00000-----N.I. before Nonrecurring
Items00000Oper. of Discontinued Segment;Income
(Loss)00000Disposal of Discont. Segment;Gain
(Loss)00000Extraordinary Item;Gain (Loss)00000Cum. Effect
of Acct Change;Gain (Loss)00000-----Net Income
(Loss)00000======BALANCE
SHEET20082007200620052004------ASSETSCurrent
Assets:Cash00000Marketable Securities00000Gross
Receivables00000Less: Allowance for Bad Debts00000Net
Trade Receivables00000Inventories00000Prepaid
Expenses00000Other Current Assets00000-----Total Current
Assets00000Long-Term Assets:Net Tangible (Fixed) Assets
(other than construction in progress)00000Construction in
Progress00000Intangible Assets00000Investments00000Other
Nonoperating Assets00000Other Operating Assets00000-----

6. Total Long-Term Assets00000Total Assets00000LIABILITIES
AND EQUITYCurrent Liabilities:Accounts Payable00000Short
Term Loans00000Current Maturity of L.t. Debt00000Other
Current Liabilities00000-----Total Current
Liabilities00000Long-Term Liabilities:Long-term
Debt00000Reserves00000Deferred Liabilities00000Minority
Interest00000Redeemable Preferred00000Other Long-term
Liabilities00000-----Total Long-term Liabilities00000Total
Liabilities00000Shareholders' Equity:Preferred
Equity00000Common Equity-incl. Ret. Ern.00000-----Total
Equity00000Total Liabilities and Equity00000======OTHER
DATA20082007200620052004------Capitalized
Interest0.00.00.00.00.0Interest Portion of
Rentals0.00.00.00.00.0Liquidation Value of Pref.
Stock0.00.00.00.00.0Dividends on Redeemable
Pref.0.00.00.00.00.0Dividends on Nonredeemable
Pref.0.00.00.00.00.0Dividends per Common
Share0.0000.0000.0000.0000.000Total Cash
Dividends0.00.00.00.00.0Dil. Earn. per Sh. before Nonrec.
Items0.0000.0000.0000.0000.000Market Price per Common
Share0.0000.0000.0000.0000.000Tax Rate (0-
1)0.0000.0000.0000.0000.000Common Shares
Outstanding0.00.00.00.00.0Diluted Weighted Average Common
Shares0.00.00.00.00.0Cash Flow from
Operations0.00.00.00.00.0Options:Option
expense0.00.00.00.00.0Net income bef. nonrec. items
not incl. opt. exp.0.00.00.00.00.0
Source of InputFinSAS Version 2008010211Source of
InputCompany:Company name hereAnalyst:Your name(s)
hereMost Recent Year Available:2008Years Available
for:Income Statement (1-5)5Balance Sheet (1-5)5=INCOME
STATEMENT-Net SalesLess: Cost of Goods SoldGross
ProfitOther Operating RevenueLess: Operating
ExpensesOperating IncomeLess: Interest Expense(no capitalized
interest)Other Income (Expenses)Unusual or Infreq. Item;Gain
(Loss)Equity in Earnings of Assoc.;Profit (Loss)Income before

7. TaxesLess:Taxes Related to OperationsN.I. before Min.
Ern.Minority Share of Earnings (Loss)N.I. before Nonrecurring
ItemsOper. of Discontinued Segment;Income (Loss)Disposal of
Discont. Segment;Gain (Loss)Extraordinary Item;Gain
(Loss)Cum. Effect of Acct Change;Gain (Loss)Net Income
(Loss)=BALANCE SHEET-ASSETSCurrent
Assets:CashMarketable SecuritiesGross ReceivablesLess:
Allowance for Bad DebtsNet Trade
ReceivablesInventoriesPrepaid ExpensesOther Current
AssetsTotal Current AssetsLong-Term Assets:Net Tangible
(Fixed) Assets (other than construction in progress)Construction
in ProgressIntangible AssetsInvestmentsOther Nonoperating
AssetsOther Operating AssetsTotal Long-Term AssetsTotal
AssetsLIABILITIES AND EQUITYCurrent Liabilities:Accounts
PayableShort Term LoansCurrent Maturity of L.t. DebtOther
Current LiabilitiesTotal Current LiabilitiesLong-Term
Liabilities:Long-term DebtReservesDeferred LiabilitiesMinority
InterestRedeemable PreferredOther Long-term LiabilitiesTotal
Long-term LiabilitiesTotal LiabilitiesShareholders'
Equity:Preferred EquityCommon Equity-incl. Ret. Ern.Total
EquityTotal Liabilities and Equity=OTHER DATA-Capitalized
InterestInterest Portion of RentalsLiquidation Value of Pref.
StockDividends on Redeemable Pref.Dividends on
Nonredeemable Pref.Dividends per Common ShareTotal Cash
DividendsDil. Earn. per Sh. before nonrec. itemsMarket Price
per Common ShareTax Rate (0-1)Common Shares
OutstandingDiluted Weighted Average Common SharesCash
Flow from OperationsOptions:Option expenseNet income bef.
nonrec. items
not incl. opt. exp.
Vertical Analysis1.002.003.004.005.00FinSAS Version
2008010211Vertical AnalysisCompany:Company name
hereAnalyst:Your name(s) hereMost Recent Year
Available:2008Years Available for:Income Statement (1-
5)5Balance Sheet (1-5)5======INCOME
STATEMENT20082007200620052004------------------------------

8. ---------------------Net Sales0.00%0.00%0.00%0.00%0.00%Less:
Cost of Goods Sold0.00%0.00%0.00%0.00%0.00%----------------
----------------------------------Gross
Profit0.00%0.00%0.00%0.00%0.00%Other Operating
Revenue0.00%0.00%0.00%0.00%0.00%Less: Operating
Expenses0.00%0.00%0.00%0.00%0.00%----------------------------
----------------------Operating
Income0.00%0.00%0.00%0.00%0.00%Less: Interest
Expense0.00%0.00%0.00%0.00%0.00%(no capitalized
interest)Other Income
(Expenses)0.00%0.00%0.00%0.00%0.00%Unusual or Infreq.
Item;Gain (Loss)0.00%0.00%0.00%0.00%0.00%Equity in
Earnings of Assoc.;Profit (Loss)0.00%0.00%0.00%0.00%0.00%-
-------------------------------------------------Income before
Taxes0.00%0.00%0.00%0.00%0.00%Less:Taxes Related to
Operations0.00%0.00%0.00%0.00%0.00%--------------------------
------------------------N.I. before Min.
Ern.0.00%0.00%0.00%0.00%0.00%Minority Share of Earnings
(Loss)0.00%0.00%0.00%0.00%0.00%-------------------------------
-------------------N.I. before Nonrecurring
Items0.00%0.00%0.00%0.00%0.00%Oper. of Discontinued
Segment;Income (Loss)0.00%0.00%0.00%0.00%0.00%Disposal
of Discont. Segment;Gain
(Loss)0.00%0.00%0.00%0.00%0.00%Extraordinary Item;Gain
(Loss)0.00%0.00%0.00%0.00%0.00%Cum. Effect of Acct
Change;Gain (Loss)0.00%0.00%0.00%0.00%0.00%---------------
-----------------------------------Net Income
(Loss)0.00%0.00%0.00%0.00%0.00%======BALANCE
SHEET20082007200620052004--------------------------------------
--------ASSETSCurrent
Assets:Cash0.00%0.00%0.00%0.00%0.00%Marketable
Securities0.00%0.00%0.00%0.00%0.00%Gross
Receivables0.00%0.00%0.00%0.00%0.00%Less: Allowance for
Bad Debts0.00%0.00%0.00%0.00%0.00%Net Trade
Receivables0.00%0.00%0.00%0.00%0.00%Inventories0.00%0.0
0%0.00%0.00%0.00%Prepaid

9. Expenses0.00%0.00%0.00%0.00%0.00%Other Current
Assets0.00%0.00%0.00%0.00%0.00%-------------------------------
--------------Total Current
Assets0.00%0.00%0.00%0.00%0.00%Long-Term Assets:Net
Tangible (Fixed) Assets (other than construction in
progress)0.00%0.00%0.00%0.00%0.00%Construction in
Progress0.00%0.00%0.00%0.00%0.00%Intangible
Assets0.00%0.00%0.00%0.00%0.00%Investments0.00%0.00%0.
00%0.00%0.00%Other Nonoperating
Assets0.00%0.00%0.00%0.00%0.00%Other Operating
Assets0.00%0.00%0.00%0.00%0.00%-------------------------------
--------------Total Long-Term
Assets0.00%0.00%0.00%0.00%0.00%Total
Assets0.00%0.00%0.00%0.00%0.00%LIABILITIES AND
EQUITYCurrent Liabilities:Accounts
Payable0.00%0.00%0.00%0.00%0.00%Short Term
Loans0.00%0.00%0.00%0.00%0.00%Current Maturity of L.t.
Debt0.00%0.00%0.00%0.00%0.00%Other Current
Liabilities0.00%0.00%0.00%0.00%0.00%--------------------------
-------------------Total Current
Liabilities0.00%0.00%0.00%0.00%0.00%Long-Term
Liabilities:Long-term
Debt0.00%0.00%0.00%0.00%0.00%Reserves0.00%0.00%0.00%
0.00%0.00%Deferred
Liabilities0.00%0.00%0.00%0.00%0.00%Minority
Interest0.00%0.00%0.00%0.00%0.00%Redeemable
Preferred0.00%0.00%0.00%0.00%0.00%Other Long-term
Liabilities0.00%0.00%0.00%0.00%0.00%--------------------------
-------------------Total Long-term
Liabilities0.00%0.00%0.00%0.00%0.00%Total
Liabilities0.00%0.00%0.00%0.00%0.00%Shareholders'
Equity:Preferred Equity0.00%0.00%0.00%0.00%0.00%Common
Equity-incl. Ret. Ern.0.00%0.00%0.00%0.00%0.00%-------------
--------------------------------Total
Equity0.00%0.00%0.00%0.00%0.00%Total Liabilities and
Equity0.00%0.00%0.00%0.00%0.00%======

10. Horizontal Analysis1.002.003.004.005.00FinSAS Version
2008010211Horizontal AnalysisCompany:Company name
hereAnalyst:Your name(s) hereMost Recent Year
Available:2008Years Available for:Income Statement (1-
5)5Balance Sheet (1-5)5======INCOME
STATEMENT20082007200620052004------------------------------
---------------------Net
Sales0.00%0.00%0.00%0.00%0.00%0.000.00Less: Cost of
Goods Sold0.00%0.00%0.00%0.00%0.00%0.000.00---------------
-------------------------------------Gross
Profit0.00%0.00%0.00%0.00%0.00%0.000.000.000.00Other
Operating Revenue0.00%0.00%0.00%0.00%0.00%0.000.00Less:
Operating Expenses0.00%0.00%0.00%0.00%0.00%0.000.00-----
-----------------------------------------------Operating
Income0.00%0.00%0.00%0.00%0.00%0.000.00Less: Interest
Expense0.00%0.00%0.00%0.00%0.00%0.000.00(no capitalized
interest)0.000.00Other Income
(Expenses)0.00%0.00%0.00%0.00%0.00%0.000.00Unusual or
Infreq. Item;0.000.00Gain
(Loss)0.00%0.00%0.00%0.00%0.00%0.000.00Equity in
Earnings of Assoc.;0.000.00Profit
(Loss)0.00%0.00%0.00%0.00%0.00%0.000.00---------------------
-------------------------------Income before
Taxes0.00%0.00%0.00%0.00%0.00%0.000.000.000.00Less:Taxe
s Related to Operations0.00%0.00%0.00%0.00%0.00%0.000.00-
---------------------------------------------------N.I. before Min.
Ern.0.00%0.00%0.00%0.00%0.00%0.000.000.000.00Minority
Share of Earnings
(Loss)0.00%0.00%0.00%0.00%0.00%0.000.00---------------------
-------------------------------N.I. before Nonrecurring
Items0.00%0.00%0.00%0.00%0.00%0.000.000.000.00Oper. of
Discontinued Segment;0.000.00Income
(Loss)0.00%0.00%0.00%0.00%0.00%0.000.00Disposal of
Discont. Segment;0.000.00Gain
(Loss)0.00%0.00%0.00%0.00%0.00%0.000.00Extraordinary
Item;0.000.00Gain

11. (Loss)0.00%0.00%0.00%0.00%0.00%0.000.00Cum. Effect of
Acct Change;0.000.00Gain
(Loss)0.00%0.00%0.00%0.00%0.00%0.000.00---------------------
-------------------------------Net Income
(Loss)0.00%0.00%0.00%0.00%0.00%0.000.00======BALANC
E SHEET20082007200620052004-----------------------------------
----------------ASSETSCurrent
Assets:Cash0.00%0.00%0.00%0.00%0.00%0.000.00Marketable
Securities0.00%0.00%0.00%0.00%0.00%0.000.00Gross
Receivables0.00%0.00%0.00%0.00%0.00%0.000.00Less:
Allowance for Bad
Debts0.00%0.00%0.00%0.00%0.00%0.000.00Net Trade
Receivables0.00%0.00%0.00%0.00%0.00%0.000.00Inventories0
.00%0.00%0.00%0.00%0.00%0.000.00Prepaid
Expenses0.00%0.00%0.00%0.00%0.00%0.000.00Other Current
Assets0.00%0.00%0.00%0.00%0.00%0.000.00---------------------
-------------------------------Total Current
Assets0.00%0.00%0.00%0.00%0.00%0.000.00Long-Term
Assets:0.000.00Net Tangible (Fixed) Assets (other than
construction in
progress)0.00%0.00%0.00%0.00%0.00%0.000.00Construction
in Progress0.00%0.00%0.00%0.00%0.00%0.000.00Intangible
Assets0.00%0.00%0.00%0.00%0.00%0.000.00Investments0.00
%0.00%0.00%0.00%0.00%0.000.00Other Nonoperating
Assets0.00%0.00%0.00%0.00%0.00%0.000.00Other Operating
Assets0.00%0.00%0.00%0.00%0.00%0.000.00---------------------
-------------------------------Total Long-Term
Assets0.00%0.00%0.00%0.00%0.00%0.000.00Total
Assets0.00%0.00%0.00%0.00%0.00%0.000.00LIABILITIES
AND EQUITY0.000.00Current Liabilities:0.000.00Accounts
Payable0.00%0.00%0.00%0.00%0.00%0.000.00Short Term
Loans0.00%0.00%0.00%0.00%0.00%0.000.00Current Maturity
of L.t. Debt0.00%0.00%0.00%0.00%0.00%0.000.00Other
Current Liabilities0.00%0.00%0.00%0.00%0.00%0.000.00-------
---------------------------------------------Total Current
Liabilities0.00%0.00%0.00%0.00%0.00%0.000.00Long-Term

12. Liabilities:0.000.00Long-term
Debt0.00%0.00%0.00%0.00%0.00%0.000.00Reserves0.00%0.00
%0.00%0.00%0.00%0.000.00Deferred
Liabilities0.00%0.00%0.00%0.00%0.00%0.000.00Minority
Interest0.00%0.00%0.00%0.00%0.00%0.000.00Redeemable
Preferred0.00%0.00%0.00%0.00%0.00%0.000.00Other Long-
term Liabilities0.00%0.00%0.00%0.00%0.00%0.000.00----------
------------------------------------------Total Long-term
Liabilities0.00%0.00%0.00%0.00%0.00%0.000.00Total
Liabilities0.00%0.00%0.00%0.00%0.00%0.000.00Shareholders'
Equity:0.000.00Preferred
Equity0.00%0.00%0.00%0.00%0.00%0.000.00Common Equity-
incl. Ret. Ern.0.00%0.00%0.00%0.00%0.00%0.000.00------------
----------------------------------------Total
Equity0.00%0.00%0.00%0.00%0.00%0.000.00Total Liabilities
and Equity0.00%0.00%0.00%0.00%0.00%0.000.00========
Ratios - avg.1.002.003.004.005.00FinSAS Version
2008010211Ratios - averageCompany:Company name
hereAnalyst:Your name(s) hereMost Recent Year
Available:2008Years Available for:Income Statement (1-
5)5Balance Sheet (1-5)5Minimum Years5Minimum Years
(BS-1)4Maximum Years5------
LIQUIDITY20082007200620052004------Days' Sales in
Receivables0.000.000.000.000.00Accounts Receivable
Turnover0.000.000.000.000.00A/R Turnover in
Days0.000.000.000.000.00Days' Sales in
Inventory0.000.000.000.000.00Inventory
Turnover0.000.000.000.000.00Inventory Turnover in
Days0.000.000.000.000.00Operating
Cycle0.000.000.000.000.00Working Capital- 0- 0- 0- 0-
0Current Ratio- 0- 0- 0- 0- 0Acid Test- 0- 0- 0- 0- 0Cash Ratio-
0- 0- 0- 0- 0Sales to Working Capital0.000.000.000.000.00Cash
Flow/Cur. Mat. of Debt & NP- 0- 0- 0- 0- 0------LONG-TERM
DEBT-PAYING ABILITY20082007200620052004------Times
Interest Earned0.000.000.000.000.00Fixed Charge
Coverage0.000.000.000.000.00Debt

13. Ratio0.00%0.00%0.00%0.00%0.00%Debt/Equity0.00%0.00%0.0
0%0.00%0.00%Debt to Tangible Net
Worth0.00%0.00%0.00%0.00%0.00%Cash Flow/Total
Debt0.00%0.00%0.00%0.00%0.00%------
PROFITABILITY20082007200620052004------Net Profit
Margin0.00%0.00%0.00%0.00%0.00%Total Asset
Turnover0.000.000.000.000.00Return on
Assets0.00%0.00%0.00%0.00%0.00%Operating Income
Margin0.00%0.00%0.00%0.00%0.00%Operating Asset
Turnover0.000.000.000.000.00Return on Operating
Assets0.00%0.00%0.00%0.00%0.00%Sales to Fixed
Assets0.000.000.000.000.00Return on
Investment0.00%0.00%0.00%0.00%0.00%Return on Total
Equity0.00%0.00%0.00%0.00%0.00%Return on Common
Equity0.00%0.00%0.00%0.00%0.00%Gross Profit
Margin0.00%0.00%0.00%0.00%0.00%------INVESTOR
ANALYSIS20082007200620052004------Degree of Financial
Leverage0.000.000.000.000.00Earnings per
Share0.000.000.000.000.00Price/Earnings
Ratio0.000.000.000.000.00Percentage of Earnings
Retained0.00%0.00%0.00%0.00%0.00%Dividend
Payout0.00%0.00%0.00%0.00%0.00%Dividend
Yield0.00%0.00%0.00%0.00%0.00%Book Value per Share- 0-
0- 0- 0- 0Materiality of
Options0.00%0.00%0.00%0.00%0.00%Oper. Cash Flow per
Share0.000.000.000.000.00Oper. Cash Flow/Cash
Dividends0.000.000.000.000.00Year-end Market
Price0.000.000.000.000.00======
Ratios - end.1.002.003.004.005.00FinSAS Version
2008010211Ratios - endingCompany:Company name
hereAnalyst:Your name(s) hereMost Recent Year
Available:2008Years Available for:Income Statement (1-
5)5Balance Sheet (1-5)5Minimum Years5Minimum Years
(BS-1)4Maximum Years5* EOY values instead of averages------
LIQUIDITY20082007200620052004------Days' Sales in
Receivables0.000.000.000.000.00* Accounts Receivable

14. Turnover0.000.000.000.000.00* A/R Turnover in
Days0.000.000.000.000.00Days' Sales in
Inventory0.000.000.000.000.00* Inventory
Turnover0.000.000.000.000.00* Inventory Turnover in
Days0.000.000.000.000.00* Operating
Cycle0.000.000.000.000.00Working Capital- 0- 0- 0- 0-
0Current Ratio- 0- 0- 0- 0- 0Acid Test- 0- 0- 0- 0- 0Cash Ratio-
0- 0- 0- 0- 0* Sales to Working
Capital0.000.000.000.000.00Cash Flow/Cur. Mat. of Debt &
NP- 0- 0- 0- 0- 0------LONG-TERM DEBT-PAYING
ABILITY20082007200620052004------Times Interest Earned-
0- 0- 0- 0- 0Fixed Charge Coverage- 0- 0- 0- 0- 0Debt
Ratio0.00%0.00%0.00%0.00%0.00%Debt/Equity0.00%0.00%0.0
0%0.00%0.00%Debt to Tangible Net
Worth0.00%0.00%0.00%0.00%0.00%Cash Flow/Total
Debt0.00%0.00%0.00%0.00%0.00%------
PROFITABILITY20082007200620052004------Net Profit
Margin0.00%0.00%0.00%0.00%0.00%* Total Asset
Turnover0.000.000.000.000.00* Return on
Assets0.00%0.00%0.00%0.00%0.00%Operating Income
Margin0.00%0.00%0.00%0.00%0.00%* Operating Asset
Turnover0.000.000.000.000.00* Return on Operating
Assets0.00%0.00%0.00%0.00%0.00%* Sales to Fixed
Assets0.000.000.000.000.00* Return on
Investment0.00%0.00%0.00%0.00%0.00%* Return on Total
Equity0.00%0.00%0.00%0.00%0.00%* Return on Common
Equity0.00%0.00%0.00%0.00%0.00%Gross Profit
Margin0.00%0.00%0.00%0.00%0.00%------INVESTOR
ANALYSIS20082007200620052004------Degree of Financial
Leverage- 0- 0- 0- 0- 0Earnings per Share- 0- 0- 0- 0-
0Price/Earnings Ratio- 0- 0- 0- 0- 0Percentage of Earnings
Retained0.00%0.00%0.00%0.00%0.00%Dividend
Payout0.00%0.00%0.00%0.00%0.00%Dividend
Yield0.00%0.00%0.00%0.00%0.00%Book Value per Share- 0-
0- 0- 0- 0Materiality of
Options0.00%0.00%0.00%0.00%0.00%Oper. Cash Flow per

15. Share- 0- 0- 0- 0- 0Oper. Cash Flow/Cash Dividends- 0- 0- 0- 0-
0Year-end Market Price0.000.000.000.000.00======
DocumentationFinSAS Version 2008010211Documentation-
LIQUIDITY-Days' Sales in ReceivablesGross Receivables
---------------------------
Net Sales / 365Accounts Receivable TurnoverNet Sales
----------------------------------------
Average (Gross Receivables)A/R Turnover in Days365
--------------------------------------------
Accounts Receivable TurnoverDays' Sales in InventoryEnding
Inventory
-----------------------------------
Cost of Goods Sold / 365Inventory TurnoverCost of Goods Sold
---------------------------------
Average (Inventories)Inventory Turnover in Days365
--------------------------------------
Inventory TurnoverOperating CycleA/R Turnover in Days +
Inventory Turnover in DaysWorking CapitalTotal Current
Assets - Total Current LiabilitiesCurrent RatioTotal Current
Assets
----------------------------------
Total Current LiabilitiesAcid TestCash + Marketable Securities
+ Net Trade Receivables
---------------------------------------------------------------------------
------
Total Current LiabilitiesCash RatioCash + Marketable
Securities
---------------------------------------------
Total Current LiabilitiesSales to Working CapitalNet Sales
------------------------------------
Average (Working Capital)Cash Flow/Cur. Mat. of Debt &
NPCash Flow from Operations
---------------------------------------------------------------------
Short Term Loans + Current Maturity of L.t. Debt-LONG-
TERM DEBT-PAYING ABILITY-Times Interest EarnedIncome
before Taxes + Interest Expense (no capitalized interest) -

16. Equity in Earnings of Assoc.; Profit (Loss)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
--
Interest Expense (no capitalized interest) + Capitalized
InterestFixed Charge CoverageIncome before Taxes + Interest
Expense (no capitalized interest) - Equity in Earnings of Assoc.;
Profit (Loss) + Interest Portion of Rentals
---------------------------------------------------------------------------
---------------------------------------------------------------------------
-----------------------------------
Interest Expense (no capitalized interest) + Capitalized Interest
+ Interest Portion of RentalsDebt RatioTotal Liabilities
--------------------------------
Total AssetsDebt/EquityTotal Liabilities
------------------------
Total EquityDebt to Tangible Net WorthTotal Liabilities
-----------------------------------------------
Total Equity - Intangible AssetsCash Flow/Total DebtCash Flow
from Operations
----------------------------------------
Total Liabilities-PROFITABILITY-Net Profit MarginN.I. before
Min. Ern. – Equity in Earnings of Assoc.; Profit (Loss)
---------------------------------------------------------------------------
------------
Net SalesTotal Asset TurnoverNet Sales
---------------------------------
Average (Total Assets)Return on AssetsN.I. before Min. Ern.
-----------------------------
Average (Total Assets)Operating Income MarginOperating
Income
-------------------------
Net SalesOperating Asset TurnoverNet Sales
---------------------------------------------------------------------------
---------------------------------------------------------------------------
--------

17. Average (Total Assets - Construction in Progress - Intangible
Assets - Investments - Other Nonoperating Assets)Return on
Operating AssetsOperating Income
---------------------------------------------------------------------------
---------------------------------------------------------------------------
--------
Average (Total Assets - Construction in Progress - Intangible
Assets - Investments - Other Nonoperating Assets)Sales to
Fixed AssetsNet Sales
---------------------------------------------------------------------------
----------------------------
Average (Net Tangible (Fixed) Assets (other than construction
in progress))Return on InvestmentN.I. before Min. Ern. + {(1-
Tax Rate) * Interest Expense (no capitalized interest)}
---------------------------------------------------------------------------
---------------------
Average (Total Liabilities and Equity - Total Current
Liabilities)Return on Total EquityN.I. before Nonrecurring
Items - Dividends on Redeemable Pref.
---------------------------------------------------------------------------
-------------
Average (Total Equity)Return on Common EquityN.I. before
Nonrecurring Items - Dividends on Redeemable Pref. -
Dividends on Nonredeemable Pref.
---------------------------------------------------------------------------
------------------------------------------------------------------
Average (Common Equity-incl. Ret. Ern.)Gross Profit
MarginGross Profit
--------------------
Net Sales-INVESTOR ANALYSIS-Degree of Financial
LeverageIncome before Taxes + Interest Expense (no
capitalized interest) - Equity in Earnings of Assoc.; Profit
(Loss)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Income before Taxes - Equity in Earnings of Assoc.; Profit

18. (Loss)Earnings per ShareDil. Earn. per Sh. before Nonrec.
ItemsPrice/Earnings RatioMarket Price per Common Share
----------------------------------------------
Dil. Earn. per Sh. before Nonrec. ItemsPercentage of Earnings
RetainedN.I. before Nonrecurring Items - Total Cash Dividends
---------------------------------------------------------
N.I. before Nonrecurring ItemsDividend PayoutDividends per
Common Share
----------------------------------------------
Dil. Earn. per Sh. before Nonrec. ItemsDividend
YieldDividends per Common Share
----------------------------------------------
Market Price per Common ShareBook Value per ShareCommon
Equity-incl. Ret. Ern.
---------------------------------------------
Common Shares OutstandingMateriality of OptionsOption
expense
---------------------------------------------------------------
Net income bef. nonrec. items not incl. opt. exp.Oper. Cash
Flow per ShareCash Flow from Operations - Dividends on
Redeemable Pref. - Dividends on Nonredeemable Pref.
---------------------------------------------------------------------------
------------------------------------------------------------
Diluted Weighted Average Common SharesOper. Cash
Flow/Cash DividendsCash Flow from Operations
---------------------------------------
Total Cash DividendsYear-end Market PriceMarket Price per
Common Share=
&CCopyright © 2009 Cengage Learning
Company selection - week – 1
Choose your term paper companies - two companies should be
selected - and upload them via the Week 1 Dropbox titled
"Company Selection." Your choices will be reviewed, and you
will receive feedback and/or approval for your choices. Your
selections must be publicly traded companies that compete with

19. one another, and I encourage you to select the company you
work for, or wish to work for, in order to learn more about the
company and the industry. Please ensure to include the ticker
symbol with the company name to ensure that is publicly traded
on one of the stock exchanges. Ticker symbols can be found on
Yahoo! Finance.
Course Project Horizontal Analysis – Week 2
Your outline should include (but is not limited to) the
following.
I. Choice of Companies and an Overview of Their Operations
and Industry – Briefly outline what each company does and its
industry. (5 points)
II. Discussion of Current Issues Impacting Financial Statements
– Include any relevant current event information, news that has
affected financial statements, or world events that could impact
the businesses. Research will have to be done on this. Some
good sources of information include the most recent annual
reports for each company (these can be found online for all
publicly-traded companies; utilize the most current year-end
annual reports available), Yahoo! Finance, the MSN Money
website (this will provide current information on your company
and some ratio information), and various business magazines.
You can find the websites suggested under the Webliography
tab in the course. (5 points)
III. Relevant Ratios and Discussion – List what ratios you think
are relevant to your companies and industry. Go to the Excel
spreadsheet in Doc Sharing, review the ratios listed under the
ratio tab, and pick what you think may be relevant. In one to
two paragraphs, briefly discuss ten ratios you think may be
important, and include ratios from the different categories. The
ratios will be automatically calculated on the spreadsheet
(please see section IV regarding this). (10 points)
IV. Excel Spreadsheet FinSAS.xls – Manually input the
financial data for your company under the input tab on the
spreadsheet. You should insert numbers highlighted only in
blue. These numbers should be found in the company's most

20. recent year-end annual reports (utilize the most year-end
numbers; the spreadsheet has it starting at 2008, but change the
year to 2009 and go five years historically from there to 2005),
which can be obtained online under your company choice.
Complete a separate spreadsheet for each company. Write that
you completed the input for the spreadsheet for both companies
and that the spreadsheet works. To check this, once you input
the data in the input tab only, check the other tabs (ratio,
vertical analysis) to ensure that you see the automated
calculations. (20 points)
V. Bibliography
Written content and explanations can be completed in a separate
(Word) document
Course Project Vertical Analysis – Week 3
Your outline should include (but is not limited to) the
following.
I. Identification of Significant Asset Items, Liability Items, and
Comments on Revenue and Profitability – List specific issues
that you think affect these items. For example, economic
factors, new product launches, and recent news developments
can affect the items. Information can be obtained from annual
report write-ups, financial notes, and the Internet. Briefly
comment on how they affect financial numbers such as sales,
profitability, costs, revenue, and so forth. (10 points)
II. Relevant Ratios and Discussion of Your Findings of Vertical
Analysis – Discuss briefly your vertical analysis findings,
which are calculated automatically on the spreadsheet under the
vertical analysis tab. Then, identify any key ratios that you
think impact vertical analysis. (10 points)
III. Excel Spreadsheet FinSAS.xlsx, Calculations of Vertical
Ratio Analysis – This is a separate tab under the project
spreadsheet and will calculate automatically, based on what you
inserted in the input tab during Week 2. Ensure that it has
calculated, and provide a brief analysis of your findings. The
spreadsheet does not need to be submitted this week; just state
that the spreadsheet is calculating correctly for each company.

21. (20 points)
a. Bibliography
b. Other back material, as needed: detailed tables, extended
quotations from which shorter quotes are taken, and so forth.
Written content and explanations can be completed in a separate
(Word) document
Course Project Final Ratio Analysis – Week 4
Your outline should include (but is not limited to) the
following.
I. Explaining Business Objectives and the Effect of the
Objectives on the Ratios – Briefly highlight if the ratios meet
the criteria of the business objectives. These objectives can be
found in the annual reports under CEO comments and business
summaries. (10 points)
II. Identification of the Three Most Important Ratios for Your
Companies and Support – Include why you think these ratios are
the most important; what do they indicate about the financial
health of each company? All ratios should be automatically
calculated based on your input sheet from Week 2. (10 points)
III. Computation of Relevant Ratios and Comparison to Industry
Data – Verify that all ratios have been automatically calculated
on the spreadsheet. On a separate document, list the ratios in
comparison to the industry. Industry ratios can be found on
various financial websites. The list should be in a table format,
showing Company A, Company B, and then the industry ratio.
(20 points)
a. Bibliography
b. Other back material, as needed: detailed tables, extended
quotations from which shorter quotes are taken, and so forth.
Written content and explanations can be completed in a separate
(Word) document.
General Expectations for your Final Course Project Submission
– Week 7
This week, you should integrate the work you did on the group
project over the past six weeks to create a Course Project, and
submit it to the Dropbox under the Course Project tab by

22. Thursday of Week 7. A Word document, as well as the Excel
document for each company, must be submitted. Also, submit a
spreadsheet for each company completed.
This week, you should also be sure that you answered the
following: "Which company has better financial ratios and why?
What do the ratios indicate? Compare the financial ratios for the
latest year to the industry averages. Is each company above or
below the industry averages? Compare for each ratio." All this
information should come from your previous weeks'
submissions. A suggestion is to include a section in the paper
that responds to each of these questions stated. A paper clearly
outlined with separate sections generally reads easier
Don't forget to cite your sources properly, both parenthetically
and in your bibliography or works cited.
Assurance of Learning Assessment Examination
Spring Semester 2013
*
Comp-XM Exam Overview
Each student becomes the CEO of their own “Andrews”
Company. Students individually compete against three computer
teams. Students take over a unique, dominant company with
significant weaknesses.
Comp-XM Exam Scenario:
As CEO of your company, the Andrews Corporation, you will

23. make four sets of decisions. Your competition, Baldwin,
Chester and Digby, are run by computer teams.
All participants compete against a standard set of competitors,
but each scenario is structured differently. As with your current
simulation, the quality of your decisions directly affects the
position of your company. Your individual simulation decision-
making performance is evaluated using the Balanced Scorecard.
*
Introduction: The Comp-XM® examination is an integrated
assessment tool. An extension of the Foundation® simulation
that will allow students to individually
demonstrate their business skills and acumen. There are two
parts to the Comp-XM® Examination
1) A business simulation (similar to the current simulation)
2) A series of quizzes/questions presented called “Board
Queries.”
There are four unique Market Segments:
Note: “Thrift” and “Core” (similar to Low-Tech). “Nano”
and “Elite” (similar to High-Tech).
Thrift Segment
Buying Criteria
Core Segment
Buying Criteria
Nano Segment
Buying Criteria
Elite Segment
Buying Criteria

24. *
The competitive landscape is not even: Each company begins
from a different starting point. Each company has four existing
products. Students compete against 3 computer-managed
companies.
*
How is it graded?
There are 2 grading components.
*
The Balanced Scorecard examines how well your company is
managed.
4 Perspectives:Finance
Internal Business Process
Customer
Learning and Growth
#1: Balanced Scorecard (50%)

25. *
#2: Board Queries (50%) Exam questions (Queries) from the
Board of Directors.
5 question sets (Number of questions each round may vary).
Questions are unique to your particular environment.Strategic
AnalysisFinanceMarketingAccounting
OperationsQuality InitiativesHR & TQMSituation Analysis
Specific questions may cover:
*
Sample Question #1 of 3: Key: Analyze the
“Inquirer” to answer.
*
Sample #2 of 3: How to answer this?
*
Sample #3 of 3: How to answer this?Question Value: 15 Pts
Your Competitive Intelligence team reports that a wave of
product liability lawsuits is likely to cause Digby to pull the

26. product Daft entirely off the market this year. Assume Digby
scraps all capacity and inventory this round, completely writing
off those assets and escrowing the proceeds to a settlement
fund. Assume these lawsuits will have no effect on any other
products of Digby or other companies.
Question: Without Digby's product Daft, how much can the
industry currently produce in the Core segment? Consider only
products primarily in the Core segment last year. Ignore current
inventories. Figures are in thousands (000).
Step 1: Per the Production Report (FT), find the products
that exist in the “Core” Segment and the production capacity
available for each of these products.
Step 2: Combine all potential production for the Core
segment.
Note: Be sure to consider that existing capacity can be
used to produce *double* the amount of product (due to second
shift potential).
*
Prep Work
Round 1
Round 2
Round 3
Round 4
Final
Half an Hour
Decision rounds take about 30-75 minutes per round.
There are 4 decision rounds. There are 5 rounds of “Board
Queries”. In essence, there is a “wrap-up” set of Board Queries
after the four decision-making rounds.

27. *
Student registration, using the codes provided, is due today in
lab. For Round 1, we will meet Thurs, April 18th, from 7:30-
9:30 PM in “Lab TBA”. After round one, proceed at your own
pace through the remainder of the exam. This is an individual
exam. No consultation with fellow students is allowed. Any
procedural questions can be addressed during office hours/via
email. The exam due date is Monday, April 29th at 1:00 PM
(EST). No exceptions. Exam results will be distributed at our
May 1st “Capsim Summit” in “Room TBA”.
*
*
*
*
*
*
*
*
*

28. *
*
*
*