ACCT-1011

Guidelines for the Beginning-of-Semester (Accounting Exploration) Project

1. Please select any US company for which you can obtain its most recent annual reports including the comparative audited financial statements,

2. Write a short report about your company that should include the following:

1. Short introduction to the companys business that highlights its main products, and its key financial results such as net income (loss), total assets, total liabilities, total equity,etc; (1-3 short paragraphs)

2. The name of the independent auditor of the company;

3. Your explanation of at least three main items in the financial statements (an asset, liability, equity,etc) that you can recognize and understand (3 short paragraphs);

   1. Item 1:

   2. Item 2:

   3. Item 3:

4. Mention at least three other items you found in the financial statements but you are not sure what they mean given what we studied in accounting and what you know about financial statements so far. For each one of these items that are still foreign to you, give your best guess of what this item could mean (1-3 short paragraphs).

   1. Item 1:

   2. Item 2:

   3. Item 3: