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Currency in Jan 29 Jan 28 Feb 03 Millions of US As of: 2010 2011 2012 Dollars Reclassified… 1 answer below » Currency in Jan 29 Jan 28 Feb 03 Millions of US As of: 2010 2011 2012 Dollars Reclassified Reclassified Revenues 52,902.0 61,494.0 TOTAL REVENUES 52,902.0 61,494.0 Cost of Goods Sold 43,404.0 50,041.0 GROSS PROFIT Document Preview: ACG 2003 – Principles of Accounting 1
Project
The purpose of the project is to apply the lessons of your accounting course to a real company. You will discover how the issues, topics, practices and procedures described in your textbook actually affect a View complete question » Currency in Jan 29 Jan 28 Feb 03 Millions of US As of: 2010 2011 2012 Dollars Reclassified Reclassified Revenues 52,902.0 61,494.0 TOTAL REVENUES 52,902.0 61,494.0 Cost of Goods Sold 43,404.0 50,041.0 GROSS PROFIT Document Preview: ACG 2003 – Principles of Accounting 1
Project
The purpose of the project is to apply the lessons of your accounting course to a real company. You will discover how the issues, topics, practices and procedures described in your textbook actually affect a company’s financial statements. You will conduct library and Internet research to familiarize yourself with your company and the industry in which your firm competes. Later in the course you will begin to analyze and evaluate your individual firm’s financial stability and trends.
The company should be publicly traded, i.e., its stock is traded on a stock exchange such as the New York Stock Exchange (NYSE). It is usually best to avoid financial institutions, e.g., banks or insurance companies, as well as public utilities, because these companies normally have specialized accounting practices.
Completing the Assignment
Choose two companies in the same industry for example Lowes and Home Depot.
Obtain the latest annual report for each company and compare and contrast the income statements and balance sheet of these two companies focusing on the differences and similarities between them. Annual reports are usually extensive. Do not print the entire report. Search for the financial statements and print those (3 pages). Save the annual report on a media storage device for future reference.
Calculations:
You can use percentages to determine for example the contribution of a particular asset to total assets – example Inventory is 10 and total assets is 200, therefore inventory is 5% of total assets:
Calculation: (10/200) X 100 = 5%
To show changes from year to year, you need to calculate the percentage change in the item. Example Inventory in 2005 is 10 and in 2006 it is 15. The percentage change in inventory is 50%.
Calculation: (Present year – Past year)/ Past year,
= (15-10)/10 *100 = 50%
Outline
Basic Company Information (Present a profile of your two companies including official name,… Attachments: Toshiba-Finan….docx Project-assig….doc Dell-Financia….docx View less » Jul 28 2015 10:54 AM
