...SEC 10-K Paper: Access the most recent SEC 10-K filing of a publically traded company. Verify your company has inventory and accounts receivable (trade receivable is acceptable). The company must sell a tangible product (not services). Do not select hotels, financial services, or other service oriented businesses. Post the name of your company in the SEC 10-K conference for approval. You must select a company that has not been previously selected so everyone has a different company. You will post comments about your company as we discuss the financial statements, inventory methods, accounts receivable, bad debts and other topics. The posting process will assist you in writing the paper. Use your own words. Do not copy and paste material. If you copy and paste any financial statements or areas from the SEC 10-K this will not count toward the page length requirement. Take care to avoid issues of academic dishonesty. Your works cited list should include the web address for your SEC 10-K so I can access it as you did. Your works cited list should also include our textbook. Any other resources should be cited in text using APA style. We use APA style for in text citations and for the works cited list. The paper should be one to two pages in length, single spaced, with one inch margins on all sides. Use 'headers' for sections such as Inventory and Accounts Receivable. You may have other sections as well. Double space between paragraphs. The paper is your opportunity to use accounting...
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...Information Name of the Company: The Hershey Company. See SEC Form 10K, front page 0. Hereinafter. “Hershey.” or the “Company.” See Proxy Statement, page 2. Fiscal year covered by the annual report: Fiscal year 2009. See SEC Form 10K, front page 0. Stock Exchange where shares are traded and stock ticker symbol: New York Atock Exchange under ticker symbol HSY. See SEC Form 10K, page 16. State of Incorporation: Delaware. See SEC Form 10K, page 1. Describe the Company’s business(es), e.g. types of products manufactured: The Hershey Company sells quality chocolate and is the global leader in chocolate and sugar confectionery. Principal product groups include chocolate and confectionary products; snack products, gum and mint refreshment products; and pantry items, such as baking ingredients, toppings and beverages, See SEC Form 10K, page 1. II. Management and Audit Report Who are the Company’s Auditors? KMPG LLP. See Proxy Statement, page 35. What opinion did the auditors issue? KMPG opinion says the consolidated financial statements referred to above present fairly, in all material respects, the financial position of The Hershey Company and subsidiaries as of December 31, 2009 and 2008 and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2009, in conformity with U.S. generally accepted accounting principles. See SEC Form 10K, page 52. In addition KMPG opinion is that the Company...
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...Company Analysis and Comparison: JC Penney (JCP) and Target (TGT) Becky Kennedy FINC 350 A Professor Mason February 1, 2015 JC Penney and Target are a huge presence in the retail industry. Both companies specialize in the sale of merchandise and service to consumers through retail stores and e-commerce. Target and JC Penney are companies that are part of an industry known for its competitiveness and few barriers to entry. They compete with other local, national and regional retailers for resources such as customers, employees, locations, merchandise, and other aspects of the retail business. Both companies have stores at several locations throughout the United States, with both company’s operating results depending on their ability to predict and respond to changes in trends and customer preferences by providing consumers with quality merchandise at competitive prices. Both companies face the same kinds of risks. The answers are in the way they are managed. The retail industry is risky with Target and JC Penney both struggling with issues resulting in lost revenue. Risks faced by companies in the retail industry most likely include competition, marketing, branding, employee/customer retention, supply chain management, financial management, data management and much more. Target suffered from a data breach at the end of 2013 that proved to be costly and they are still subject to investigations and private litigations costing them millions of dollars. JC Penney has suffered...
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...Ethics and Compliance Paper If the associate is new to the field or recently moved into a new position, each associate has the reasonability and held to a high level in compiling with the policy’s and regulations. With corporations becoming more diverse, it is important each company has policy’s set in places so each associate does not break the law or policy’s the company has set in place. In this paper we will be discussing Wal-Marts role of ethics and compliance in the financial environment, describe procedures Wal-Mart has in place to ensure ethical behavior, Identify the processes Wal-Mart uses to comply with SEC regulations, evaluate Wal-Marts financial performance during the past 2 years, and closing Discuss the trends for each ratio and what it tells you about the organizations financial Health. Wal-Mart believes that the highest level of communication and ethics are required to be successful. They have what is considered an open door policy for those associates that feel they must discuss a matter pertaining to ethics with the management. They are required under their policy to address any issues in a timely fashion. They have what is called a statement of ethics. A requirement for all employees is to be familiar with the statement. Their ethics helpline is available for all associates to use so that they can remain anonymous if they have a complaint (Wal-Mart, 2011). The decisions that guild Wal-Mart and its leaderships are the 3 basic beliefs, 1) Respect...
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...HealthSouth Corp he was the first CEO charged with violating the Sarbanes-Oxley act. 3. CEO and CFO of company 4. 10K is for reporting annual results and 10Q is for reporting quarterly results and it would be the CEO or CFO 5. Companies with a public float of $700 million or more and the deadline will be 40 days. 6. It would be in the SEC Edgar Database 7. Microsoft - Frank H. Brod; Nike - Mark G. Parker; Cisco - John T. Chambers 8. In section 1519 violators will be fined and imprisoned for no more than 20 years, 1520 section A (a) of the securities Exchange Act of the 1934 (the “34 Act”) to maintain all audit or review work papers for a period of 5 years from the end of the fiscal period in which the audit or review was conclude. 9. It was the J-SOX compliance Management Software Solution and Services based on Council of the Japanese Financial Services Agency provided final Implementation 10. Convicted of looting more than $600 million from their company, both were convicted of grand larceny. 11. Researchers have noted that information security in implicit in the requirements of SOX , and that the relationship will get stronger 12. Generally considered to be directly impacting IT control practices is section 404, Management Assessment of Internal Controls. Section 404 suggests organizations registered as US Securities and exchange Commission (SEC) filers annually 13. CFO/CEO-s have to certify/verify internal controls, and acknowledge responsibility for maintaining...
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...Accounting 150 Fundamentals of Accounting Corporation Study Project (75 points possible) DATES: February 20 – Section I draft due March 27 – Section II draft due April 15 – Section III draft due May 4 – Complete paper is due Objective of the Project Study a company whose stock is traded on the New York Stock Exchange (NYSE) or National Association of Securities Dealers (NASDAQ). Use the company’s public documents and financial statements to learn business information, financial information and investor analysis of the company (e.g., stock prices and ratios.). This will include an analysis of the company’s balance sheet, income statement and statement of cash flows. Due dates are listed above. Your paper will consist of a cover page (name of company, your name, date, and course/section), table of contents and the following sections: Section I. Profile of the Company’s Operations (Minimum 3 pages-word processed in paragraph form. Some information can be presented in table or bullet point format) Research the company’s most recent 10-K and the company’s website to learn the following for Section I of your paper: • State of incorporation. (front page of 10-K) • Type of stock issued, number of shares authorized and issued. • Information about the corporation’s product lines and major competitors (10-K Part I, Item 1) • Business risks. (10-K Part I, Item 1a.) • Number of employees. • Information about the company’s competition. • Summary of the company’s SWOT analysis • Corporate mission...
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...Campus Dr. Barry Smith The Rise and Fall of WorldCom The aftershock of the fall of WorldCom was not only felt in the United States but all over the world. Once a company that was ranked number 4 amongst the Fortune 500 companies was losing everything and was involved in turmoil of accounting fraud and financial troubles unimagined to anyone (Pandey & Verma, 2004). The fraudulent activities and financial troubles led to WorldCom filing bankruptcy protection under Chapter 11 and brought the end to a world known telecommunications company. What led to these financial troubles? How could the fraud go on for so long without notice? These were some of questions that the stakeholders of the company were gripped with. The purpose of this paper is to analyze the financial statements of WorldCom and determine whether these statements foreshadowed the troubles ahead. WorldCom was a successful telecommunications company with its history dating back to 1983. It started out as small long distance calling service provider called Long Distance Discount Service (LDDS) in 1983. Bernard Ebbers was one of the early investors in the company and 1985 became the chief executive officer of the company (Pandey & Verma, 2004). Under his direction, the company acquired Advantage Companies in 1989 and became a publically traded company. The company expanded through mergers and acquisitions, the $40 billion merger with MCI Communications Corporation was the biggest in history at that time (Uknown...
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...Investment Decision Analysis for IPG Photonics Corporation By: Stacey Fletcher FIN6409-1 Financial Management June 24, 2013 Everest University Introduction The premise of this paper is to assume that I have just graduated from the MBA program and have taken a job as a fund manager for a well-known investment banking house where I have been given $300 million fund to manage/invest. The type of fund I am managing is a pension/retirement fund of long-term perspective and tolerable of moderate risk for loss of capital, it has a required annual return of 9%. As such, in order to mitigate the investment risk, I am instructed to make 12 investments of $25 million dollars each. My first assignment is to preform an analysis on a company of my choice to determine if the fund I am managing should make the investment of $25 million in the stock of this company, and prepare a report. My analysis will be primarily based upon the company's most recent 3 years annual and quarterly SEC filings, and will be comprised of calculations of financial ratios for cash flows and profitability, as well as, forecast performance measures of earnings, analysts' reports and related articles. The decision to invest or not invest will be based upon and supported by this analysis. The company I have chosen for my analysis, IPG Photonics Corporation ,went public in 2006 and is listed on the NASDAQ represented by ticker symbol IPGP. IPG is currently headquartered in Oxford, Massachusetts...
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...Assignment 2: Accounting and Audit Enforcement ACC 599 – Graduate Accounting Capstone QUESTION #1 After so many scandals in regards to financial frauds, Sarbanes-Oxley Act Section 404 mandates that all publicly-traded companies must establish internal controls and procedures for financial reporting and must document, test and maintain those controls and procedures to ensure their effectiveness. Non-for-profit healthcare organizations do not hold themselves to the same standards as the for-profit organizations. Although whether SOX guidelines apply to businesses in the healthcare industry depends on whether the business is a for-profit or non-for-profit organization, some voluntarily adopt SOX in an effort to strengthen internal management controls and increase the quality of healthcare financial reporting (Lohrey, n.d., ¶1). Non-for-profit organizations could certainly benefit from the SOX Section 404 to help reduce the possibilities of corporate fraud by increasing the stringency of procedures and requirements for financial reporting. Many health care executives and board members have concluded that SOX created a new benchmark for best practices, as well as provided extra protection from liability by evidencing direct board attention and oversight of organization compliance (Kusserow, 2013, ¶1). Without audit committees, non-for-profit organizations are at higher risk of financial disaster. Following the SOX compliances can be very beneficial for the non-for-profit...
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...Innovation Strategy Paper Innovation Strategy Paper Not many companies, if any, are known for more innovation than Apple Inc. The products and software produced by Apple Inc. always seem to be years beyond the reach of other companies. Apple Inc. and its wholly-owned subsidiaries (collectively “Apple” or the “Company”) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications (Apple, 2011, pg. 1). Apple Inc. (Apple) produces such items and services as the “iPhone®, iPad®, Mac®, iPod®, Apple TV®, a portfolio of consumer and professional software applications, the iOS and Mac OS®X operating systems, iCloud®, and a variety of accessory, service and support offerings” (Apple, 2011). Apple’s innovation strategy is described below and is evaluated along with the risks involved with the strategy. Apple’s financials and business plan are also described below. Innovation Strategy Innovative companies can thrive even in a tough economy. Apple Inc. has seen hard times and good times. Apple has survived as a company because of a renewed commitment to innovation. This commitment to innovation spearheaded by Steve Jobs has caused other companies to analyze how Apple does so well. First, it is important to note that Apple has not been always successful. Today...
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...Innovation Strategy A corporation’s innovation strategy is an important factor for viability and success of that organization. “In a discontinuous world, strategy innovation is the key to wealth creation” (Mintzberg, Lampel, Quinn, & Ghoshal, 2003, p. 471). It is a way for new entrants to succeed in the face of adversity and a way for incumbents to reinvent their products for success. This paper evaluates Microsoft Corporation’s innovation strategy as it related to its product and also evaluates the strategy as a measure of the company’s success. Company background and SEC filings Founded in 1975, incorporated in 1981 and with an initial public offering in 1986, the Microsoft Corporation mainly focuses on developing software products and services for their customers. There are five divisions of Microsoft: Windows and Windows Live Division, which creates operating systems for PCs; Server and Tools that develops server infrastructure and software; Online Services Division that focuses on easing consumer concerns and simplifying searches with Bing; Microsoft Business Division, which sustains the Microsoft Office Suite; and the Entertainment and Devices Division with products such as the Xbox360 and Kinect. Microsoft operates in more than 100 countries around the world, with sales growth attributed to creative design of new products and services. Their main competitors are Apple, Google, Yahoo, Adobe, Nintendo, IBM, and HP. With that level of competition, Microsoft is thoroughly...
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...………………………………………………………………………………. Terminal Value …………………………………………………………………….. 40 46 47 47 1 Introduction William Boeing founded the Boeing in 1916, in the midst of World War I (U.S. Centennial of Flight Commission, 2011). Since then the company just took off to become “world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training” (Boeing 10K). Methodology We used various sources to gather our information, primary sources as well as secondary, Boeing Corp. website and its financial statements for the years 2011, 2010, 2009, 2008 and 2007. We use the Internet to collect and process historical events about the company profile as well industry in which is operating. Also we are using different analytical tools, such as descriptive tool, graphs, charts, ratios, to get a better and deeper knowledge of the company. Company overview ...
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...Trading report If I do not have any specific information about the financial markets, only have historical information on the returns/risks of the different types of assets (ETFs), I would slowly enter to the market. I would draw a personal financial market roadmap to figure out my goals and risk tolerance and evaluate my comfort zone in taking risk. However, as I have 1 millions dollars (money paper) to invest, so I have intention to buy high beta stocks with high risk. In this case, I will choose the stock with beta above 1 (riskier than the market). Before you buy stock in a company, you need to do a little light – reading and doing research. Investing in stock without checking out the company beforehand is a recipe for disaster. In this case, I will do a research online like Yahoo Finance, MSN Money, Investor Guide and The Street to find the most volatile stocks with high risk and high return. Investing in volatile stocks is like riding a roller coaster. When the market is on a roll, taking on more risk in your portfolio can have big rewards, but you will have stomach to deal with potential losses. I chose to buy 2,000 shares of Netflix with a market price $91.84 and the beta is 1.32. Netflix is an amazing success story both in entertainment industry and stock investment. Within 3 years, the company stock price has been increasing from $20 a share to over $100 a shares. Investing in Netflix either I can get a lot of money return or lost a lot of money. I also...
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...The Sarbanes-Oxley Act of 2002 Abstract This paper addresses financial analysis standards legislated in the Sarbanes-Oxley Act of 2002 (SOX). The focus will be on how the legislation enhanced the role of auditing and auditing firms, the impact of whistleblower legislation, and the recent Supreme Court decision. The paper attempts to show that though there continues to be opposition to SOX’s financial reform legislation, there is a case to be made in support of SOX. The research relies on historical data, such as the Enron scandal, and the recent decision by the United States Supreme Court decision that deems SOX as constitutional, to support that legislation is a necessary requirement in today’s global corporate environment, in which some of the largest corporations have proven that, left to their own devices, they will gravitate toward corporate malfeasance. The Sarbanes-Oxley Act of 2002: WorldCom. Enron. Adelphia. Global Crossing. What do all these companies have in common? They will always be synonymous with the following: financial fraud, corporate malfeasance, internal corruption, and the reason behind the passage of the Sarbanes-Oxley Act of 2002 (SOX). Not since the Crash of 1929 and the subsequent passage of the Securities Act of 1933 and the Securities Exchange Act of 1934 (Bumgardner, 2003, para. 2), had the country seen such a push for financial reform. Triggered by investigations into corporate fraud by some of the largest and most successful corporations...
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...Fraud is a serious problem for most businesses today and often technology compounds the problem. In addition, the role of the independent auditor in the detection of fraud is often questioned. (http://www.swlearning.com/accounting/hall/ais_4e/study_notes/ch03.pdf) Fraud is dishonest activity causing actual or potential financial loss to any person or entity including theft of money or other property by employees or persons and where deception is used at the time, immediately before or immediately following the activity. (http://about.curtin.edu.au/definitions-impact.cfm) * Types of Fraud (http://www.auditsol.com.au/media/Fraudw.pdf) 1. Employee fraud Is internal or employee frauds are when fraud is committed against the company or organization a person is working for. Internal frauds can include: * payment fraud Payment fraud is any fraud that involves falsely creating or diverting payments. Payment fraud can include: * creating bogus customer records and bank accounts so that false payments can be generated * intercepting and altering payee details and amounts on cheques and Payable Orders, then attempting to cash them * creating false payment and financial information to support fraudulent claims for benefits * processing false claims by accomplices for benefits, grants or repayments self authorizing payments to oneself. * procurement fraud Procurement fraud is any fraud relating to a company purchasing goods,...
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