Assignment -
Obtain a public company's most recent Form 10-K filing with the SEC and, using a team approach, prepare an analysis of business risks affecting the financial reporting process and develop an audit plan (overview level) for the company selected.
Choose a project that no other student has chosen. First person, who posts it, gets the company so have a couple in minds in case the company you choose is taken.
Instructions -
1. Visit the SEC's Web site to obtain a copy of the most recent Form 10-K filing by a publicly held company with stock actively traded on the New York, NASDAQ, or other over-the-counter exchanges. Answer the following questions
a. What is the company's industry?
b. What are its primary products?
c. What raw materials does the company use?
d. How large is the company:
e. Where is the company located?
f. What other people/companies are closely associated with this company?
g. Look at the Form 10-K:
- What information is included in Item 1 and Item 1A of the Form 10-K?
- How might that information be useful to the audit during audit planning?
2. Obtain outside information about the company and its industry. Answer the following questions:
a. What are the key economic factors about the industry?
b. Where is the company in its life cycle?
c. What are the five or six most important factors for success in this business?
d. How does this company stand with respect to these factors?
e. Describe four or five key business risks related to the client's business and industry.
f. What notable accounting considerations are there for companies in this industry?
g. What legal or regulatory matters are of concern?
h. What social matters are of concern?
Attachment:- Assignment Files.rar