1) The Annual Report All publicly traded entities have an obligation to report financial highlights and objectives annually. It may seem strange that these reports include information that could be viewed as an advertisement for the company, until you consider that these reports are aimed at many different stakeholders?including shareholders, potential investors, other companies in the same industry, the media that covers that particular industry, and financial analysts. Consider the various uses of the public annual report. Then, select two different audiences who might view the annual report. For each group, state which sections seem most relevant and which sections seem least useful. Next, locate an annual report for a company other than FedEx. Compare FedEx?s approach with the approach of the other company. What, if any, are the differences? Which did you find most effective, and why? 2) Financial Statement Articulation You may be familiar with the term, ?closing the books.? For accountants, this term has a special meaning. The books are closed at the end of an accounting period, after financial statements are completed. Not all corporate accounts are closed at the same time or in the same manner, however, as you will discover this week. Identify the titles of the four financial statements listed in the FedEx Annual Report (use the same resource from Week 1). Determine which of these reports show balances from temporary accounts and which show balances from permanent accounts. Explain what is meant by ?temporary? and ?permanent.? Next, consider how each statement is integrated into the other statements to form one cohesive set of financial reports. Explain the purpose of each report and the ways in which it contributes to the whole. Finally, read the two editorial viewpoints presented by business leaders relating to the purpose of financial statements. With whose point of view do you agree most? Explain the reasons for your choice.
Paper#8098 | Written in 18-Jul-2015Price : $25