Assignment

SEC 10K Link: https://www.sec.gov/Archives/edgar/data/908255/000090825516000077/a10k12312015.htm

Position: 358
Income Statement: 53
Balance Sheet: 52
Statement of Stockholders Equity: 56
Statement of Cash Flows: 55

Part I

Income Statement

Respond to one or more question(s) from each of the three categories below.

Category: Liabilities

1. What were the company's liabilities as displayed on the balance sheet for the most recent fiscal year? Comment on the trend in total liabilities, both current and long term.

2. Notes to the financial statements: What more do you learn about liabilities from these details?

Category: Contingencies

1. Identify and describe any contingencies. How are they disclosed?

2. Considering materiality as one component, what do you learn about contingencies from your review of the notes to the financial statements?

Category: Defining Contingencies

1. What goals might management have regarding the disclosure of contingencies?

2. Identify and explain gain contingencies as they apply to your company.

3. Identify and explain loss contingencies as they apply to your company.

PART II

Statement of Stockholders' Equity

Respond to one or more question(s) from each of the three categories below.

Category: Reporting Stockholders' Equity

1. Explain the relevancy of your company's statement of stockholders' equity. Your comments should include column titles as well as line items. Any surprises related to items not included or items displayed? What changes do you observe? An example would be treasury stock.

2. Retained earnings or accumulated deficits: comment on the activity reporting, including references to previous fiscal year activity.

Category: Common Stock, Dividends, and other activity

1. Describe activity for this fiscal year and others disclosed relating to common stock, dividends, and related activity.

2. Comment on concepts such as stock compensation and stock options. What do you learn from the notes to the financial statements regarding these items?

Category: Accumulated Other Comprehensive Income / (Loss)

1. Compare and contract items in the area of Accumulated Other Comprehensive Income / (Loss) for this fiscal year with other years disclosed in the statement of shareholders' equity.

2. Provide additional details about accumulated other comprehensive income based on your review of the notes to the financial statements.

PART III

Investments and Revenue Recognition

Respond to one or more question(s) from each of the two categories below.

Category: Investments

1. Identify and explain the investments disclosed by your SEC 10-K company? Where are the disclosed? Is there information you cannot access due to generalization and issues of materiality?

2. Identify and explain trends in the investment holdings of your SEC 10-K company, comparing this fiscal year to previous years. What detail do you learn from the notes to the financial statements?

Category: Revenue Recognition

1. How is the concept of revenue recognition disclosed in your SEC 10-K? Identify and explain the recognition issues faced by your company.

2. Describe the sales and revenue issues of your company in terms of customers and sales types.

PART IV

Statement of Cash Flows

Respond to one or more question(s) from each of the two categories below.

Category: Operating Activities

1. State whether your corporation uses the direct or indirect method of preparing the Statement of Cash Flows and describe how the Statement would be different under these two methods.

2. What are the largest increases and decreases in the operating activities section of your corporation's Statement of Cash Flows?

3. Given the industry your corporation operates in and the current economic environment, explain any unexpected operating activities that caused cash flow to decrease.

Category: Investing and Financing Activities

1. Explain similarities and or differences in preparing the Statement of Cash Flows using International Financial Reporting Standards (IFRS).

2. Describe investments reported on your corporation's Statement of Cash Flows in the current and most recent past year.

3. Review your corporation's Statement of Cash Flows over the past 3 years and explain any financing trends.

PART V

Explain what you learn about the disclosures of your SEC 10-K company relating to Income Taxes.

Your comments should relate to net income or loss as well as to the balance sheet treatment and disclosure in the notes to the financial statements.

Additionally consider the concept of risk and the aggressiveness of positions taken.