First Solar Assignment 1. What were the key risks faced by First Solar in early 2009? 2. What is your assessment of the quality of revenues reported by First Solar in Ql of 2009? Calculate the diagnostics on sales from the asynchronous material that can be computed for FSLR to help answer this question. 3. How did FSLR's accounts receivable and inventories behave over time? How did they behave in comparison to its key competitors? 4. Are there qualitative signs of how FSLR's revenue recognition was changing over time? 5. Calculate the diagnostic signals for accounts receivables, warranties, accruals and R&D that can be computed in each quarter for the years 2007 through 2009. 6. Another type of diagnostic used in accounting quality analysis is called "Fundamental Signals" which are intended to provide insight about a company's performance over time. The typical for of the measure is "% change in one variable less the % change in another variable from one period to the next. For example, the accounts receivable signal is calculated as