Reference no: EM13390773

Obtain an annual report from a corporation that is interesting to you. Using techniques you have learned in the previous weeks, respond to the following questions:

• Who are the firm’s auditors? Do they provide a clean opinion on the financial statements?

• Have there been any subsequent events, errors and irregularities, illegal acts, or related-party transactions that have a material effect on the financial statements?

• Describe the trend in total assets and total liabilities for the years presented.

• What are the company’s three largest assets for the most recent year presented?

• What are the company’s three largest liabilities for the most recent year presented?

• What types of stock does the company have? How many shares are there outstanding for each type of stock for the most recent year presented?

• Does the company use the single-step or multiple-step income statement or a variation?

• Does the income statement contain any separately reported items in any year presented, included discontinued operations or extraordinary items? If it does, describe the even that caused the item.

• Describe the trend in net income over the years presented.

• Does the company have other comprehensive income? If yes, what is the nature of the transaction(s)?

• Does the company use the indirect or direct method of the cash flow statement?

• What is the trend in cash from operations for the years presented?

• What are the 2 largest items included in cash from investing activities?