Management’s Discussion and Analysis information (MD&A) for companies typically includes:

▪ Unusual or infrequent transactions

▪ Changes in sales due to price and volume components

▪ Anticipated changes in financing and in investment activities (internal and external)

▪ Information on acquisitions, divestitures, contingencies and commitments, segments, compensation

▪ Planned expansions:  required fixed assets and infrastructure, personnel and other operating expenses, lease commitments, product life cycles, etc.

Look up a public company on the internet and read its MD&A. Comment on the usefulness of this part of the financial statements.