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Financial Statement Analysis Project
Overview: This assignment closely follows course material and provides you with an opportunity to apply course concepts to a real world situation. You are my financial advisor and I have asked you to recommend whether or not I should invest $1 M in a publicly traded (i.e., listed on the NYSE or NASDAQ) company of your choice. To advise me, perform a comprehensive financial statement analysis and write up your analysis in a 10 – 20 page paper. You must recommend, based on your analysis, if I should invest in the company.
Include in your analysis of the company’s recent financial statements, a comparison to a competitor company as well as their industry. You will use a FinSAS file for your ratio analysis (see below) and you must complete two separate files – one for your main company and one for your competitor.
Selecting Companies: Select your company as soon as possible because only one student can select a company. There will be discussion thread in eCollege to sign up so check to see if someone already has your company. The Company must be publically traded and listed on either the NYSE or the NASDAQ. The company must have at least $1 million in revenues. Other than this, the only other restriction is that you may not choose Apple, Nike, JC Penney, Epoch, Boeing or Lockheed Martin.
If you select a company in banking, oil and gas, insurance, transportation or regulated utilities, review the material in Chapter 12 ASAP to decide if this is the right company for you.
Obtaining Financial Statements: Pull the 10-K filings from http://edgar.sec.gov. Click on the blue box near the bottom right that says “Search Company Filings” and type in the company’s name. You can get them from other sources but it’s your responsibility to ensure you have the auditedfinancial statements, the audit opinion, and the MD&A.
Paper Details: Present your analysis of the company’s recent financial statements (3 years of I/S and 4 years of B/S data). You must compare the results to a competitor company, as well as their industry, to form a recommendation. Use the text, course tools, plus outside sources to corroborate and supplement your analysis. Look in Doc Sharing for a lot of helpful resources, including hints on populating the FinSAS file.
The text has an example of an analysis following Chapter 10 of the text (“Summary Analysis Nike, Inc.”). Do not follow this example. I will provide information about the paper during lectures.
References: Outside sources mean articles, websites, databases and other library sources, but notother people. However, your primary source of information must be the textbook and the financial statements. Be sure to cite your sources within your paper. When you use internet sources, your citation must provide a URL that goes directly to the material. When you use non-internet sources, you must make them available to me upon request.
Format: See the rubric for formatting requirements and other expectations.
FinSAS File Requirement: Use the Financial Statement Analysis Spreadsheet (”FinSAS file”) in Doc Sharing, which you should download immediately. Enter financial statement data and it will calculate ratios for you. As discussed in class, add a formula to cells B-E/21. This will help you avoid errors. Occasionally the file doesn’t work properly; let me know if that happens.
Other Hints: Review this document when you’ve finished the paper. Here are some common problems:
Final Due Date: See the course schedule. Your submission must consist of two files listed below. Late papers are not accepted except under extenuating circumstances that have been approved by me in advance. Do not turn in the FinSAS file for your competitor company:
RUBRIC FOR GRADING THE FINANCIAL STATEMENT ANALYSIS PAPER
1 See below for the number of points by achievement category