A Financial Statement Analysis Project for Introductory...

G lobal Perspectives on Accounting Education Volume 6, 2009, 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu, California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu, California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project requires students to analyze trends in corporate performance, to evaluate corporate financial decisions, to discuss non-financial statement issues that would be important to potential investors, to compare two companies†¦show more content†¦The project in this paper, on the other hand, is much more in keeping with the recommendations of authors such as Kimmel (1995), who call for using cases which do not have unique solutions and which require students to formulate recommendations on the basis of incomplete information. The project included here has only six requirements, which are completely detailed on a single page. Yet, while the requirements provide a systematic framework for completion, they also are open-ended, inducing students to create analyses tailored to the particular circumstances encountered by the specific companies and specific industries being analyzed at a particular point in time. T 84 A Financial Statement Analysis Project for Introductory Financial Accounting 85 PROJECT OVERVIEW Project Requirements As may be seen in the assignment sheet included in Appendix 1, the project requires students to obtain annual reports for two companies in a given industry-one to serve as the â€Å"base company† and one to serve as the â€Å"comparison company.† Then, students are required to analyze key trends in the base company’s income statement and balance sheetShow MoreRelatedA Financial Statement Analysis Project for Introductory Financial Accounting5953 Words   |  24 PagesPerspectives on Accounting Education Volume 6, 2009, 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu, California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu, California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project requiresRead MoreAnalysis of Comprehensive Annual Financial Report2237 Words   |  9 PagesAnalysis of Comprehensive Annual Financial Report Table of Content I. Abstract II. Introduction III. Introductory analysis amp; GFOA Award IV. Financial Analysis V. Financial standing VI. Conclusion VII. References Abstract Comprehensive Annual Financial Report (CAFR) is a report used by cities, and local governments to provide the public with their financial records each year, while adhering to government accounting standards board (GASB) guidelines. The report presentsRead MoreComprehensive Annual Financial Report ( Cafr )1285 Words   |  6 PagesThe Comprehensive Annual Financial Report (CAFR) is consists of three major sections- introductory, financial, and statistical. The first part includes letter of transmittal, organizational chart, and the certificate of achievement from prior year. To begin with the introductory part, I am pleased to present this written statement presentation for the CAFR of the City of Punta Gorda, Florida for the fiscal year ended September 30, 2013. The City of Punta Gorda are comprised of different entitiesRead MoreIssues in Accounting Essay example4357 Words   |  18 PagesISSUES IN ACCOUNTING EDUCATION Vol. 26, No. 4 2011 pp. 797–806 American Accounting Association DOI: 10.2308/iace-50053 Home Heaters: A Holistic View of the Financial Statements M. Cathy Claiborne and Kirkland A. Wilcox ABSTRACT: In this case, two start-up companies in the same industry have identical economic transactions. Although both companies follow generally accepted accounting principles (GAAP), each manager makes different choices and estimates when applying GAAP. By preparingRead MoreThe Fairfax County s Comprehensive Annual Financial Report Essay1522 Words   |  7 PagesCounty’s Comprehensive Annual Financial Report for the fiscal year ended June 30, 2015, addressed to the county’s residents, presenting the county’s financial position and results of operations. The County’s financial statements included in this report conform to generally accepted accounting principles as laid out by the Governmental Accounting Standards Board (GASB). It has been audited as required by the Code of Virginia and received an unmodified opinion by the accounting firm KPMG LLP on NovemberRead MoreCase study Essay2087 Words   |  9 Pagesï » ¿ACCT560 Government and Not-for-Profit Accounting Spring 2014 Project #1 CAFR Due Wednesday, February 5, 2014 at 5:30pm EST Objective: To examine a Comprehensive Annual Financial Report (CAFR) for Montgomery County, Maryland (A neighboring county located near American University). Deliverable: Turn in a hardcopy of your answers by the due date (See the Required: section for more details). Late submissions are heavily penalized or may not be accepted. Required: You must work individuallyRead MoreEssay- Accounting as a Profession2138 Words   |  9 PagesIntroductory Part Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions, including computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management. TheyRead MoreHca 270 Ratio Analysis2493 Words   |  10 Pages | |Financial Matters for Health Care Professionals | Copyright  © 2011, 2009, 2007 by University of Phoenix. All rights reserved. Course Description This course is designed as an introduction to the terminology, processes, functions, and financial reports commonly encountered in health care operations. This course introduces the concepts of basic managerial financial functions, such as budgeting, reimbursement methodsRead Moreintermediate accounting 2 test bank Essay8318 Words   |  34 PagesIntermediate Accounting Kieso 15th Edition Test Bank Click here to download the solutions manual / test bank INSTANTLY!!! http://www.solutionsmanualtestbanks.com/2013/05/intermediate-acc ounting-kieso-15th-edition-test-bank.html Intermediate Intermediate Intermediate Intermediate Accounting Accounting Accounting Accounting Kieso Kieso Kieso Kieso 15th Edition Test Bank 15th Edition Test Bank Weygandt Warfield 15th Edition Test Bank Weygandt Warfield 15th Edition Test Bank Read MoreFundamental Financial Accounting Concepts13807 Words   |  56 PagesEighth Edition Fundamental Financial Accounting Concepts Thomas P. Edmonds University of Alabama–Birmingham Frances M. McNair Mississippi State University Philip R. Olds Virginia Commonwealth University Edward E. Milam Mississippi State University (Contributing Author) FUNDAMENTAL FINANCIAL ACCOUNTING CONCEPTS Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright  © 2013, 2011, 2008, 2006 A Financial Statement Analysis Project for Introductory... G lobal Perspectives on Accounting Education Volume 6, 2009, 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu, California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu, California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project requires students to analyze trends in corporate performance, to evaluate corporate financial decisions, to discuss non-financial statement issues that would be important to potential investors, to compare two companies within an industry,†¦show more content†¦As a first step, the professors organize students into groups of four to five people, balancing the groups based on both academic major and performance in the class to date (including performance on homework and the first exam), as well as to achieve diversity. The group format is used to encourage students to learn from each other, to motivate students to consider alternative viewpoints, to develop students’ understanding of group dynamics, and to limit the amount of time required of the project for both students and the faculty who must grade it. Each professor uses a different approach in selecting the industry and companies for analysis. One professor takes industry suggestions from the class (with the restriction that there be sufficient companies so that no more than two groups will have to analyze the same pair of companies), writes the suggestions on the board, and asks students to vote for their top two choices. Then, a second vote is taken from among the top two original suggestions, with a majority vote determining the industry to be analyzed. Finally, groups have one week to send the professor an email proposing two companies to analyze, with first responders being given preference, so that no more than two groups analyze the same pair. 85 Misch and Galantine 86 The other professor announces group assignments near the end of a class session, then allows groupsShow MoreRelatedA Financial Statement Analysis Project for Introductory Financial Accounting5944 Words   |  24 PagesPerspectives on Accounting Education Volume 6, 2009, 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu, California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu, California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project Read MoreAnalysis of Comprehensive Annual Financial Report2237 Words   |  9 PagesAnalysis of Comprehensive Annual Financial Report Table of Content I. Abstract II. Introduction III. Introductory analysis amp; GFOA Award IV. Financial Analysis V. Financial standing VI. Conclusion VII. References Abstract Comprehensive Annual Financial Report (CAFR) is a report used by cities, and local governments to provide the public with their financial records each year, while adhering to government accounting standards board (GASB) guidelines. The report presentsRead MoreComprehensive Annual Financial Report ( Cafr )1285 Words   |  6 PagesThe Comprehensive Annual Financial Report (CAFR) is consists of three major sections- introductory, financial, and statistical. The first part includes letter of transmittal, organizational chart, and the certificate of achievement from prior year. To begin with the introductory part, I am pleased to present this written statement presentation for the CAFR of the City of Punta Gorda, Florida for the fiscal year ended September 30, 2013. The City of Punta Gorda are comprised of different entitiesRead MoreIssues in Accounting Essay example4357 Words   |  18 PagesISSUES IN ACCOUNTING EDUCATION Vol. 26, No. 4 2011 pp. 797–806 American Accounting Association DOI: 10.2308/iace-50053 Home Heaters: A Holistic View of the Financial Statements M. Cathy Claiborne and Kirkland A. Wilcox ABSTRACT: In this case, two start-up companies in the same industry have identical economic transactions. Although both companies follow generally accepted accounting principles (GAAP), each manager makes different choices and estimates when applying GAAP. By preparingRead MoreThe Fairfax County s Comprehensive Annual Financial Report Essay1522 Words   |  7 PagesCounty’s Comprehensive Annual Financial Report for the fiscal year ended June 30, 2015, addressed to the county’s residents, presenting the county’s financial position and results of operations. The County’s financial statements included in this report conform to generally accepted accounting principles as laid out by the Governmental Accounting Standards Board (GASB). It has been audited as required by the Code of Virginia and received an unmodified opinion by the accounting firm KPMG LLP on NovemberRead MoreCase study Essay2087 Words   |  9 Pagesï » ¿ACCT560 Government and Not-for-Profit Accounting Spring 2014 Project #1 CAFR Due Wednesday, February 5, 2014 at 5:30pm EST Objective: To examine a Comprehensive Annual Financial Report (CAFR) for Montgomery County, Maryland (A neighboring county located near American University). Deliverable: Turn in a hardcopy of your answers by the due date (See the Required: section for more details). Late submissions are heavily penalized or may not be accepted. Required: You must work individuallyRead MoreEssay- Accounting as a Profession2138 Words   |  9 PagesIntroductory Part Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions, including computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management. TheyRead MoreHca 270 Ratio Analysis2493 Words   |  10 Pages | |Financial Matters for Health Care Professionals | Copyright  © 2011, 2009, 2007 by University of Phoenix. All rights reserved. Course Description This course is designed as an introduction to the terminology, processes, functions, and financial reports commonly encountered in health care operations. This course introduces the concepts of basic managerial financial functions, such as budgeting, reimbursement methodsRead Moreintermediate accounting 2 test bank Essay8318 Words   |  34 PagesIntermediate Accounting Kieso 15th Edition Test Bank Click here to download the solutions manual / test bank INSTANTLY!!! http://www.solutionsmanualtestbanks.com/2013/05/intermediate-acc ounting-kieso-15th-edition-test-bank.html Intermediate Intermediate Intermediate Intermediate Accounting Accounting Accounting Accounting Kieso Kieso Kieso Kieso 15th Edition Test Bank 15th Edition Test Bank Weygandt Warfield 15th Edition Test Bank Weygandt Warfield 15th Edition Test Bank Read MoreFundamental Financial Accounting Concepts13807 Words   |  56 PagesEighth Edition Fundamental Financial Accounting Concepts Thomas P. Edmonds University of Alabama–Birmingham Frances M. McNair Mississippi State University Philip R. Olds Virginia Commonwealth University Edward E. Milam Mississippi State University (Contributing Author) FUNDAMENTAL FINANCIAL ACCOUNTING CONCEPTS Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright  © 2013, 2011, 2008, 2006