This project comprises two parts: Financial Analysis and Forecasting & Budgeting.

Part 1: Financial Analysis

1.Company Selection:

Choose a publicly traded hospitality company (e.g., hotels, restaurants, casinos).

Obtain the company's financial statements (10-Ks) for the past five years (2019-2023).

2.Income Statement and Balance Sheet Analysis:

Prepare the Income Statement and Balance Sheet for 2022 and 2023 in Excel.

Conduct a horizontal analysis (year-over-year change) and vertical analysis (percentage of total revenue or assets).

3.Ratio Analysis:

Calculate the following ratios for 2022 and 2023:

Current Ratio

Working Capital

Debt-to-Equity Ratio

Asset Turnover

Profit Margin

Return on Assets

Return on Equity

Solvency Ratio

Number of Times Interest Earned

Earnings Per Share

Use Excel formulas to link all calculations to the financial statements.

Analysis Write-Up:

Select 5 accounts from the Income Statement and 5 accounts from the Balance Sheet.

For each account, provide:

A brief explanation of why the account was chosen referencing specific horizontal/vertical analysis or ratio findings.

1. What accounting principle of GAAP is used for this account, i.e., matching principle, conservative principle, etc.

An explanation of what caused changes in the account, citing the 10-K and providing page references.

I am seeking help with the last part of my project, the horizontal and vertical, and the forecasting method.

References

1. MGM Resorts International. (2024). Form 10-K for the fiscal year ended December 31, 2023. Retrieved from SEC EDGAR database.

2. MGM Resorts International. (2023). Form 10-K for the fiscal year ended December 31, 2022. Retrieved from SEC EDGAR database.

3. MGM Resorts International. (2022). Form 10-K for the fiscal year ended December 31, 2021. Retrieved from SEC EDGAR database.

4. MGM Resorts International. (2021). Form 10-K for the fiscal year ended December 31, 2020. Retrieved from SEC EDGAR database.

5. MGM Resorts International. (2020). Form 10-K for the fiscal year ended December 31, 2019. Retrieved from SEC EDGAR database.

6. MGM Resorts International. (2024). Q4 2023 Earnings Call Transcript. Retrieved from company investor relations website.

7. American Gaming Association. (2024). State of the States 2024: The AGA Survey of the Commercial Casino Industry. Washington, DC: American Gaming Association.

8. Las Vegas Convention and Visitors Authority. (2024). Las Vegas Visitor Statistics 2023. Las Vegas, NV: LVCVA Research Center.