Advanced Financial Reporting Research Project
Final Deliverable: Completion of 3-5 page written paper (excluding footnotes/cited references)
Format: Must use APA Format. The format for the paper must be double spaced, Times New Roman, 12 font, 1″ margins, and numbered pages. For items that you are quoting, please use [x] footnotes on the page with a full bibliography of sources at the end of the paper.
Required Resources: FASB ASC (selection to research will be provided directly to writer), various company filings (necessary filings will be provided directly to writer)
Additional Resources: News articles from reputable news sources like Bloomberg, Wall Street Journal, Business Week, Fortune, Forbes, Economist, and New York Times. Writer should check with me first to confirm other news article sources are ok before using. Also, other accounting research information from textbooks, and Big 4 Accounting guides/summaries is acceptable. At lease 2 of these articles should be used.
***Just make sure for any resource you use, credit is given where credit is due. No plagiarism allowed!
Subheadings: ONLY the following subheadings should be used. No additional headings or subheadings should be used. Do NOT use bullet points in your paper. All subheadings should be included and addressed.
Company Background and Significant Events
Assigned Topic, relevant portions of financials and ASC
Accounting alternatives, industry standards and future impact
Additional information provided by Earnings Call and Non-GAAP measures
Conclusions
Goal of Research Project
Complete a Research Project focusing on Family Dollar Stores Inc. and the footnote topic, sale-leaseback transactions, researching applicable standards in the FASB Accounting Standard Codification (applicable possible sections to review are provided), apply real world knowledge in the review of financial statements. The background of the applicable accounting standard will be researched along with industry standard practices. Identify key areas of the FASB Accounting Standard Codification pertaining to the assigned topic, determine the risks associated with the management judgments included and identify any alternative treatments (if applicable). Also review the most recent quarterly and annual filings, 8-Ks and earnings calls for the assigned company (to be provided to writer).
Needed filings (all provided to writer):
• Most recent 10K (10Ks filed prior to date of assignment – February 17, 2015)
• DEF 14A (Proxy statement)
• Subsequent 10Qs (if applicable)
• 8K filings for the last 6 months
Review the company’s Investor Relations website, identify news articles posted and the most recent earnings call transcript and/or recording.
Steps to Complete- Total paper 100pts – Follow this in writing the paper!
Research and Prepare
Research and prepare a 3-5 page narrative covering the following topics, as this is a professional paper, the use of bullet points, graphs and tables is not allowed.
Company Background and Significant Events
Review the Company’s most recent 10-k, Proxy statement, 10-Qs and 8-Ks for the last 6 months, discuss major events related to the company in the prior fiscal year and most recent 6 months (if 2 fiscal quarters have passed). You can identify these through the reading of 8Ks and news articles to supplement your understanding from the filings. Be sure to identify specific filings in connection with those news articles. Describe the nature of the company’s business and how does the company make money? The sale to Dollar Tree should definitely be included in some way here. About 1 page should be devoted to this section.
Assigned Topic, relevant portions of financials and ASC
Review your assigned topic (Sale-Leasebacks). Identify where in the filing it is discussed (FASB ASC for writer to research will be provided). Provide the FASB Codification section(s) that impact the discussion and identify key areas of the FASB Accounting Standard Codification pertaining to the assigned topic that support the accounting treatment used by your company (INCLUDE JUST THE TITLE OF THE SECTION, DO NOT CUT/PASTE THE CODIFICATION). Determine the risks associated with the topic and management judgments included. When you are providing the analysis of your specified footnote, you need to incorporate these concepts from the ASC with supporting examples from your footnote demonstrating your understanding of the ASC and the company’s financial statements. About 1 page should be devoted to this section.
Accounting alternatives, industry standards and future impact
Identify alternative accounting treatments available in GAAP and used in the industry. Determine if your company differs in their treatment from industry standards. Provide research on the background of the applicable accounting standard along with industry standard practices. You can review the literature in the ASC and identify allowable alternatives (ASC is provided to writer). About 1 page should be devoted to this section.
Additional information provided by Earnings Call and Non-GAAP measures
Review information from most recent Earning’s Call (provided to writer). Were there any items directly impacting your topic (Sale-Leasebacks)? What was the key area of concern brought up in this earnings call? Did management provide any earnings guidance, or discuss differences from earnings guidance. Identify from the earnings call and the 10K filings if any non-GAAP metrics and proforma numbers are provided. What additional information is management trying to convey by using the non-GAAP or proforma numbers? About 1 page should be devoted to this section as well as the conclusion.
Conclusion
Conclude as to the understandability and availability of pertinent information for the Company and your assigned disclosure (sale-leasebacks). From which area of research did you find the most useful information regarding both the company and the topic? Based on the research and analysis that you have done, would you recommend an investment in this company?
Other items
Let me know the FASB ASC(s) you are tying to the assigned footnote (also provided to writer)
In regards to the sources, aside from the 2 articles that I reference, remaining sources should be from what I provided. This includes the FASB ASCs and the company filings. There is no limit on these, though I listed 5 for simplicity.
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