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SEC 10-K (NIKE)

SEC 10-K (NIKE).

The SEC 10-K assignment will consist of research to write a paper on an annual SEC 10-K report filed by a public company with the U.S. Securities and Exchange Commission (SEC). The focus of this assignment is on the financial statements as a whole and the concepts related to the topics covered in this course. You will conduct internet based research to select a public company of your choice from the list of companies included in the Fortune 100 companies, and locate its most recent SEC 10-K report for your project. As part of this project, you will participate each week in the discussions specifically designed to guide you through this project. You will share your experience with your fellow students to learn from each other through discussion postings. WEEK 1 What is the Description and Dollar Value of the first line on the Income Statement (it may be net sales)? Locate the Balance Sheet (it may have a different heading, such as the Statement of Financial Position). What are the names of the assets and their values (if more than five line items, report only the first five line items and dollar values)? Statement of Owner’s Equity: Post the line items and dollar values in the “Equity” section of the balance sheet. You will likely find line items including Common Stock, Retained Earnings (or Deficit), and Treasury Stock. What is the Net Income (or Net Loss) for your SEC 10-K company? WEEK2 1. Answer all of the following questions and do NOT cut and paste from your company SEC report. Note 1 includes accounting information. What is the fiscal year for your SEC 10-K Company? This may be June 30 each year, or it may be the Sunday closest to the last day of January, or some other description. Inventory: How is Inventory described for your SEC 10-K company? LIFO, FIFO, and/or average cost? Relate your answer to topics in our course. Income Statement: Is it a single-step or multi-step income statement? Calculate the Gross Profit and the Gross Profit Percentage for this year and last year, creating a small table, such as the following: In the example above, sales decreased, gross profit increased, and the gross profit percentage increased. Therefore, sales are more profitable. We made 33 cents of gross profit on every dollar of sales this year, but only 14 cents of gross profit on every dollar of sales last year. Sales decreased, but sales are actually generating more profit overall, both as an absolute dollar value and as a percentage. WEEK 3 What is the name of the auditor? Looking at their signature, what city do you see? The first page of the SEC 10-K is very standard and lists two key locations. Using this information, post the state of incorporation and the city and state of the corporate headquarters for your SEC 10-K. Returning to Item 8, near the auditor’s report (this is the letter they sign, giving their opinion on whether the financial statements are fairly presented in adherence with U.S. GAAP), locate the letter regarding internal control. This letter is signed by the company’s management. What are their names and titles? Some companies list all officers whereas others list only the chief executive officer (CEO) and the chief financial officer (CFO). The SEC only requires the signatures of the CEO and CFO. WEEK 4 What is the name of the auditor? Looking at their signature, what city do you see? The first page of the SEC 10-K is very standard and lists two key locations. Using this information, post the state of incorporation and the city and state of the corporate headquarters for your SEC 10-K. Returning to Item 8, near the auditor’s report (this is the letter they sign, giving their opinion on whether the financial statements are fairly presented in adherence with U.S. GAAP), locate the letter regarding internal control. This letter is signed by the company’s management. What are their names and titles? Some companies list all officers whereas others list only the chief executive officer (CEO) and the chief financial officer (CFO). The SEC only requires the signatures of the CEO and CFO. WEEK 5 Reading the notes to the financial statements, as well as the balance sheet, post information about the Accounts Receivable for your company. Who owes the company money? It is possible that your selected company does not report accounts receivable as a separate line item because the company does not generally sell on credit terms. Search for the phrase “Bad Debts” or Allowance (for collectible accounts). When you read the balance sheet, you may see that the receivables are listed as a net of $X,XXX to show the Allowance for Bad Debts. Comment about the changes in Accounts Receivable and the Allowance for Bad Debts. Are they increasing or decreasing? How does this relate to sales (are sales increasing or decreasing)? Property, Plants, and Equipment / PPE (Capital Assets; Fixed Assets): Comment about PPE and accumulated depreciation. How are these values changing from year to year: PPE, Accumulated Depreciation, and Net PPE? NOTE: Include a title page (include your name on the title page). Use headings in your report such as Accounts Receivable and Inventory (topics from the textbook); other examples would be Balance Sheet and Income Statement.

SEC 10-K (NIKE)

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