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ACCT301 SEC 10k Business Report Part 1.2
Assigned Business for Report: The Home
ACCT301 SEC 10k Business Report Part 1.2
Assigned Business for Report: The Home Depot, Inc.
URL to The Home Depot’s SEC Form-10: https://www.sec.gov/ix?doc=/Archives/edgar/data/354950/000035495023000059/hd-20230129.htm#i34ff7b01e284464c95e860d997837e7d_85
ACCT 301 – SEC 10K Project Part 1
Business Report
This report will be your first section of the SEC 10K project:
Corporate Overview and the Management and Analysis section.
The goal of these projects, and the end of course SEC10K, is to use your knowledge of accounting concepts “tell a story” about the corporation’s business environment, operational performance, and financial position.
REQUIREMENT: Between Weeks 2 and 6, you will develop one part of the SEC 10K project. In each of the projects you are to prepare a formal business report addressing each assignment’s requirements. You should incorporate the accounting terms/concepts learned in your assigned readings to demonstrate an understanding of accounting terms/concepts, using these concepts to explain to your chosen corporation’s financial statements to the company’s Senior Management. The goal is to develop important business writing skills, incorporating accounting concepts/terminology explanations to help management read/interpret the financial reports.
Week 2 will focus on an introduction to your Corporation.
• Review the Management and Analysis section of your SEC 10-K report. This section presents an analysis of the company’s performance in both qualitative and quantitative measures. Provide an overview of the company’s operations as discussed within this section. (This requirement is asking you to summarize the key highlights of the MD&A section. This is normally a section where the company highlights the positive aspects of operations and outlook. You can incorporate a brief explanation of what they market, sell, etc. )
• Locate, discuss, and summarize the corporation’s four primary financial reports. Remember to incorporate and explain concepts from the course readings.
• Financial Statement order of preparation. – Financial statements are always prepared in a particular order. Summarize each report conceptually as to what it communicates, and discuss the reason for the statements in this order. Bring in actual amounts from your corporation’s 10K financial reports to apply the concepts to actual reports.
1. Income Statement
2. Statement of Owner’s Equity
3. Balance Sheet
4. Statement of Cash Flows
This project will ultimately become the introductory portion of your end of course SEC10K paper.
This is the second section of your SEC 10K project:
Income Statement
The goal of these projects, and the end of course SEC10K, is to use your knowledge of accounting concepts “tell a story” about the corporation’s business environment, operational performance, and financial position.
REQUIREMENT: Between Weeks 2 and 6, you will develop one part of the SEC 10K project. In each of the projects you are to prepare a formal business report addressing each assignment’s requirements. You should incorporate the accounting terms/concepts learned in your assigned readings to demonstrate an understanding of accounting terms/concepts, using these concepts to explain to your chosen corporation’s financial statements to the company’s Senior Management. The goal is to develop important business writing skills, incorporating accounting concepts/terminology explanations to help management read/interpret the financial reports.
This project will focus on the Income Statement, sometimes called the Profit and Loss Statement, which summarizes revenue and expenses.
Describe the accrual method of accounting, and how revenues and expenses are recorded and reported under this method of accounting.
Revenues and expenses are categorized based on types of income and types of expenses.
• Operations:
1. What products does your company make and sell?
2. Do they manufacture their products or purchase from others?
• Trends in revenues and impact on inventory and accounts receivable:
1. Are sales increasing or decreasing year to year?
2. How does this relate to changes in inventory and accounts receivable?
• Business environment:
What issues might your company experience relate to risk? Search your company’s PDF version of the SEC 10-K for the word risk. Are other companies and brands under your corporation’s control; locations where they operate; and other big picture business concerns?
• Income Statement costs:
What are the costs reported as line items on the income statement? Consider how these relate to the operations of the company. Are they increasing with sales or other changes?
• You might also consider the concept of competitive advantage. Companies are required to disclose certain financial information to comply with good business practices. How could this impact their competitive advantage over competitors?
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