Questions

Case Project $$ Intermediate Accounting III

GENERAL INFORMATION

What is the date of the most recent balance sheet included in the annual report?

How many years of balance sheets and income statements are included in the annual report?

What is the ticker symbol for the company$$s stock and where is the stock traded?

Briefly describe what has happened to the company$$s stock price during the past fiscal year.

What were the high and low market prices during the past fiscal year and when did they occur?

Where are the company$$s corporate headquarters located?

OPERATIONS

Describe the company$$s operations. What are its principal products and markets?

List the operating segments for which GM provides results of continuing operations. Which operating segment accounts for the largest portion of the company$$s revenue?

What countries does the company operate in$?$

What percentage of the company$$s revenue is attributable to foreign operations?

What kind of operating data $($aside from that contained in the income statement$)$ does the company provide? Why does management include this type of information?

MANAGEMENT$$S DISCUSSION AND ANALYSIS $($MD&A$)$

What is the purpose of the MD&A section? In general, what type of information is provided in this section of the annual report?

Based on your reading of the company$$s MD&A$,$ respond to the following:

What happened to the company$$s operating performance during the past year? To what does management attribute these changes?

How does management plan to finance its operations and capital expenditures during the upcoming year?

What significant risks or uncertainties does the company face?

What are management$$s primary objectives for the upcoming year?

ACCOUNTING POLICIES AND NOTES

Within the notes to the financial statements, where can the Summary of Significant Accounting Policies, or a similar note, be found?

List the major topics that the company sets forth in this disclosure. Explain briefly why it is important for financial statement users to understand each of the items discussed in the significant accounting policies.

Are any post$-$balance sheet events, commitments, contingencies, or other unusual items disclosed in the notes? If so$,$ describe briefly.