For this activity you will analyze the 2022 and 2021 annual reports of Canadian Tire Corporation. The
Question:
For this activity you will analyze the 2022 and 2021 annual reports of Canadian Tire Corporation. The site at which you may find the annual reports is: Canadian Tire Corporation(https://corp.canadiantire.ca/English/investors/financials-reporting/annual-disclosures/default.aspx) Once you are on this site, use theFinancial Reporting menuto locate theAnnual Disclosures for 2022 and 2021.
Part 1 - Background Information - Use the 2022 annual report (Report to Shareholders) to answer the following:
You may also do further research on the Internet to find information. Remember when searching through the Reports, you may use the keyword search (find) function to more easily locate information. To do this, press f and then type in the key word(s) you are searching for.
1. Describe the company including:
-the name of its CEO/president
-the address of the head office of the corporation
-the area(s) of business activity(3 areas - this may be found in the Company & Industry Overview)
- list 4 retail business owned by Canadian Tire Corporation
-the number of stores and gas outlets
-its TSX ticker symbol
-the length of time it has been in existence
2. Who are the auditors? What did they conclude regarding the fairness of the reporting of the financial position of the company (Independent Auditor's Report)?
3. What are the company's major sources of revenue (Historical Performance Highlights)?
4. What valuation method was used for the corporation's inventories (p. 94)
5. What depreciation method and estimated useful lives did the company use for Property and Equipment? (p. 94)
6. Describe, in detail, the share capital of this corporation in 2022 (p.126).
7. Did the company have a successful year according to the CEO (Greg Hicks)? Explain.
8. Describe the "outlook" of the company as outlined by the CEO?
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy