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Annual Report Analysis Project is designed to get you familiar with a real company’s financial statements and disclosures. The purpose of the project is for student to be able to identify the disclosure of financial information rules and compare between IFRS and US GAAP requirements.
- Choose two companies in the same business and industry; one company must be a Saudi listed Company and the other one must be from the Fortune 500 companies (US Listed Company).
The companies are : Hershey company – US ,, Saudi dairy and food stuff co.
Sector : food and beverage.
- Go to the company’s website to get each company annual report for 2018.
- All of the financial and company information that you need will be in the company’s Annual Report. Submit soft copy of the annual reports (in CD) together with your written report.
- Answer all of the questions to the best of your ability, using all of the accounting skills that you have accumulated in Accounting 110, 211, 212 and 314 to answer the questions
- You must submit your final report about your findings.
Your written report should include the answer for each of the following parts for each of your company.
Part A. Company overview:- Do not copy paste from annual report, You have to write in your own words.
- Brief introduction about your company and location.
- What products or services does the company produce? Be specific
- What do you think the outlook (future performance) is for these products or services?
- Provide financial summary for the last 3-5 years and briefly explain company situation based on the summary.
Based on your findings, Are there any differences between Saudi Company and US Company, in terms of information recorded or ease of finding information? Write overall conclusion on Part A.
Part B. Audit committee and board of director:-
- Who is the company’s external auditor?
- How many times the audit committee did meet?
- How many members are there on the committee?
- What is the percentage of attendance for the audit committee meeting?
- Who is the chief operating officer (CEO) of the company?
- Who is the chair person for the board of directors?
- How many members on the board of directors?
- How many times the board did meet?
Based on your findings, Are there any differences between Saudi Company and US Company, in terms of information recorded or ease of finding information? Write overall conclusion on Part B
Part C. Income statement:-
What is the company’s (weighted) average number of shares-basic?
- What are the company’s basic earnings per share?
- What are the company’s total sales/revenues/net sales?
- What is the company’s total operating income/income from operations?
- What is the company’s interest expense (net)?
- What is the company’s pretax income (earnings)/income before taxes?
- What is the company’s income tax expense/provision for income taxes or zakat?
- What is the company’s net income/net earnings?
- Calculate profitability ratios for the two company and compare which company is better? You must write an analysis to state which company is better in terms of profitability for the year.
Look at income statement presentation, which method does company follow: IASB or GAAP? How can you tell, be specific? In your opinion which income statement is better, IASB or GAAP?
Part D. Balance sheet:-
What are the company’s total assets?
- What are the company’s total current assets?
- Look at account receivable; calculate the percentage of changes in account receivable from 2017 to 2018? As an investor why would you want to compare these changes?
- Look at inventory: what inventory cost flow method does the company use? Where is this information recorded, be specific?
- What are the company’s total property, plant & equipment (net)?
- What method of depreciation company use? Where is this information recorded, be specific?
- Does the company have intangible asset? If so, identify them.
- What are the company’s total liabilities?
- What are the company’s total current liabilities?
- What are the company’s total non-current liabilities?
- What is the company’s total contributed capital (includes common stock, preferred stock and additional paid in capital in excess of par)
- Calculate the liquidity ratios and profitability ratios for both company and compare which one is better. You must write a complete analysis on which company is better credit risk
Look at balance sheet presentation, which method does company follow: IASB or GAAP? How can you tell, be specific. Which balance sheet is better IASB or GAAP?
Part E. Cash flow statement:-
- What are the individual totals of the operating activities, investing activities & financing activities-found on the statement of cash flows?
- How much cash did the company invest in property plant and equipment?
- How does net income compare to its net cash provided by operating activities?
- What items were the most responsible for the difference between net income and net cash provided by operating activities?
- Did the company pay dividend? If so how much were they?
- What percentage of net income was the cash dividend?
- Are there any significance differences between annual report of a Saudi listed company and the fortune 500 company? If so identify the differences? Be specific (the differences can be in terms of additional information provided, clarity of information provided etc.)
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