Financial Statements and Analysis
Research Project
Write a research report that tells the story of the financial statements in a way that shows mastery of the material reviewed in this class. Several examples have been included for your reference. IMPORTANT: Some of these examples are incomplete. They represent only the executive summary of the assigned report. Completed research reports should include appendices addressing each of the 15 Modules we will be reviewing this semester. The UMKC template should be used to compile the front page and executive summary of the report.
This project will unfold throughout the semester so check back frequently for updates.
• Proxy Analysis – Assignment due 2nd week of class
• Review and interpret common size financial statements
• Get a copy of your company’s 10-K and read it back to front. Bring it to class. By the end of the semester, I would expect to see it all marked up – highlighted, dog-eared, tabbed out . . .
• Review materials available for Assigned company including: Thopson One, Morningstar, Mergent, Valueline, Analyst reports (from Thompson One)
• Find out when your Assigned company’s earnings call will be and plan to dial-in. Extra Credit will be given if you can successfully engage the management team by asking a question.
• If possible, schedule a separate conference call with someone from your Assigned company’s Investor Relations Department. Schedule this for November sometime. This will allow for you to collect a lengthy list of questions as the semester progresses.
Specific Questions to Address (this list will grow as the semester progresses):
• What Non-GAAP measures are used by your company’s management team? How do they differ from GAAP and why are they used?
• Consult the latest earnings release and transcript for your company. How Closely do the headline numbers match GAAP audited numbers?
• What (if any) unrecognized loss contingencies does your company report in its footnotes?
