ACC 345: Financial Statement Analysis/Business Valuation

ACC 345: Financial Statement Analysis/Business Valuation

[Note: Replace all bracketed text with your responses before submitting this completed template for grading. Remove this note before you submit your paper.]

[Title of Paper: Subtitle]

[Your Name]

Southern New Hampshire University

ACC 345: Financial Statement Analysis/Business Valuation

[Your Instructor’s Name]

[Date—for example, May 1, 2021]

SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS – ACC 345: Financial Statement Analysis/Business Valuation

Milestone One: Introduction

Links

1. Provide the most recent SEC Form 10-K Filing link for the company.

[Insert text.]

2. Provide the most recent SEC Proxy Filing link for the company.

[Insert text.]

History and Overview

1. Provide a brief company history overview based on external research of the company. Consider the following questions to guide your response:
   1. How long has the company been in business?
   2. Who was the original founder of the company?
   3. What significant changes to company leadership have occurred?
   4. How has the company changed since its beginning? Consider expansion of locations or products/services, etc.

[Insert text.]

2. Identify all of the company’s major locations for their facilities and/or other properties.

[Insert text.]

3. Identify all of the customers recognized by the company.

Find this information in the annual Form 10-K filing, in Part 1, Item 1: Business.

[Insert text.]

4. List all of the names of the executive management team of the company.

Find this information in the annual Form 10-K filing, in Part 3, Item 10:
Directors, Executive Officers and Corporate Governance or in the Annual Proxy filing, under “Executive Officers,” or “Officers Compensation.” You may copy and paste a chart into this section from the annual Form 10-K filing. Be sure to add your own explanation of the information in the chart along with an attribution and a citation in the References section at the bottom of this template.

[Insert text.]

5. Identify all of the competition recognized by the company.

Find this information in the annual Form 10-K filing, in Part 1, Item 1: Business.

[Insert text.]

6. Identify all of the major shareholders of the company.

Find this information in the Annual Proxy filing, under “Beneficial Ownership.”

[Insert text.]

7. Describe business risks recognized by the company.

Find this information in the annual Form 10-K filing, in Part 1, Item 1A: Risk Factors. Item 1A in the annual Form 10-K will be lengthy. Do your best to summarize the risks the company has identified.

[Insert text.]

8. Explain how the company is committed to Environmental, Social and Governance (ESG) efforts and sustainability.

Find this information in the annual Form 10-K filing, in Part 1, Item 1: Business or in Part 2, Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations. If your company does not provide this information in its SEC filings, you will need to do external research to determine your company’s commitment to ESG efforts and sustainability. Be sure to add your own explanation of the information you researched. Include appropriate attributions in your explanation and a citation in the References section at the bottom of this template.

[Insert text.]

9. Describe the company’s Leadership in Energy and Environmental Design (LEED) status. Consider the following questions to guide your response:
   1. Is the company currently LEED certified?
   2. If the company is not currently LEED certificated, is it working towards becoming LEED certified?

Review the Form 10-K filing to see if your company is LEED certified or if it discusses its certifications. If your company does not provide this information in its SEC Filings, you will need to do external research to determine your company’s LEED status. Be sure to add your own explanation of the information you researched. Include appropriate attributions in your explanation and a citation in the References section at the bottom of this template.

[Insert text.]

Summary

1. Summarize your findings for the valuation team. Include the following details in your response:
   1. Explain what you learned as you researched the company.
   2. Identify the key points the valuation team needs to be aware of.

[Insert text.]

2. Create at least one effective visualization that supports key points. Include the following detail in your response:
   1. Appropriate labels for the visualization(s).

Create an effective visualization(s) based on your research to support your summary report. Examples of ideas for your visualization(s) include creating a timeline of the company history, creating a map of the company’s locations, creating a chart of major shareholders showing ownership and broken down by percentages, etc.

[Insert visualization(s).]

Milestone One References

[Insert text.]

SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS ACC 345: Financial Statement Analysis/Business Valuation

Milestone Two: Financial Analysis

Balance Sheet Analysis

1. Explain the findings regarding the company’s asset accounts for the previous five years. Include the following details in your response:
   1. Describe in detail the material changes in the asset accounts, including changes in cash, AR, inventory, property, plant and equipment, and goodwill.
   2. Explain what these changes might be related to.

[Insert text.]

2. Explain the findings regarding the company’s liability accounts for the previous five years. Include the following details in your response:
   1. Describe in detail the material changes in both current and long-term liabilities.
   2. Explain what these changes might be related to.

[Insert text.]

3. Explain the findings regarding the company’s equity accounts for the previous five years. Include the following details in your response:
   1. Describe in detail the changes to equity accounts, including common stock, treasury stock, or additional paid in capital (i.e., whether the company raised funds or retired stock).
   2. Explain how the changes compare to the net income or other sections of the balance sheet.
   3. Identify whether the company is paying out dividends.
   4. Describe in detail how that the company’s dividend payouts have changed over the past five years.
   5. Describe in detail the changes in “total equity” (representing the current “book value” of the company).

[Insert text.]

4. Explain what the company’s current and prior year liquidity and debt-to-equity ratios say about the company’s financial health. Consider the following questions to guide your response:
   1. What is an appropriate level of debt?
   2. How does this year’s performance compare to the previous year?

[Insert text.]

Income Statement and Cash Flow Analysis

1. Explain the profitability ratios that are included in the company’s financial statements. Include the following detail in your response:
   1. Explain any trends and relate any changes back to the balance sheet and income statement accounts used in the ratio calculation.

Use appropriate profitability ratio(s) and a vertical analysis (using the common-size analysis in the Project Workbook Template).

[Insert text.]

2. Explain the profitability of the company for the prior and current years. Consider the following questions to guide your response:
   1. What does a vertical analysis of the company’s gross revenue show you? What is the percentage (%) of change year over year for these past five years?
   2. How are the company’s COGS and gross profit margin being managed?
   3. How are the company’s sales, general, and administrative expenses being managed as a percentage of sales? What does this tell you about the company’s current business cycle? Remember, it is normal for this percentage to rise when sales are dropping and fall when sales are rising. If this is not happening, what might be the reason?

Use appropriate profitability ratio(s) and a vertical analysis (using the common-size analysis in the Project Workbook Template).

[Insert text.]

3. Describe what free cash flow is and how it is calculated.

[Insert text.]

4. Explain the free cash flow history for the company.

Search the company’s most recent 10-K filing first for a discussion from management on their free cash flow. If there isn’t anything in the filing, do an internet search for the company’s free cash flow history.

[Insert text.]

5. Explain the data reported in the cash flow statement for all five years reported. Include the following details in your response:
   1. Identify the amount of cash flow reported from operations.
   2. Identify the amount of cash flow reported from investments.
   3. Identify the amount of cash flow reported from financing.
   4. Explain the correlation between each of these categories of cash flow for the past five years.

[Insert text.]

SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS – ACC 345: Financial Statement Analysis/Business Valuation

Normalization Adjustments Analysis

1. Define the term normalization adjustment.

[Insert text.]

2. Identify three examples of balance sheet normalization adjustments that might appear.

[Insert text.]

3. Identify three examples of income statement normalization adjustments that might appear.

[Insert text.]

Summary

1. Summarize your findings for the valuation team. Include the following details in your response:
   1. Explain what you learned as you researched the company.
   2. Identify the key points the valuation team needs to be aware of.

Use the common-size analysis in the Project Workbook Template to inform your summary. Include key identifiers from your research in your summary.

[Insert text.]

2. Create at least one effective visualization that supports key points. Include the following detail in your response:
   1. Appropriate labels for the visualization(s).

Examples of ideas for your visualization(s) include a line chart showing sales growth and gross profit margin and other expenses or a graph of the ratio analysis data.

[Insert visualization(s).]

Milestone Two References

[Insert text.]

Milestone Three: Economic Outlook

Microeconomic Industry Analysis

1. Explain the industry outlook for the company. Include the following details in your response:
   1. Identify the primary industry the company operates in.
   2. Provide a general overview of the size of the industry both domestically and internationally.
   3. Explain current industry trends and emerging technologies that might impact the company’s industry in the future.

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2. Explain how the supply and demand for the company’s industry may affect consumer behavior. Include the following details in your response:
   1. Explain major events have impacted supply and demand for the company’s industry.
   2. Identify if there have been any supply chain issues. If so, explain how these issues have affected overall supply and demand.

[Insert text.]

3. Evaluate the competitive landscape for the company. Include the following details in your response:
   1. List the company’s current percentage of the market share in this industry.
   2. List the company’s top three competitors and what percentage of the market share each competitor holds.
   3. Explain how the percentage of market share changed over the last three years for the company and its competitors.
   4. Explain the new competitors entering this industry.

[Insert text.]

4. Identify key data from the SWOT analysis for the company and its primary competitor. Include the following details to your response:
   1. Provide the citation for SWOT analysis from a reputable source for the company.
   2. Provide the citation for SWOT analysis from a reputable source for the company’s primary competitor.
   3. Identify the company’s major strengths and weaknesses compared to the company’s primary competitor.

[Insert text.]

5. Evaluate the impact of new or recently changed regulations specific to the company’s industry. Include the following details in your response:
   1. Provide a citation to the specific new regulation.
   2. Explain the advantages and/or disadvantages of the new regulation(s) for the company’s industry.

[Insert text.]

6. Identify potential international issues with the company expanding into global markets. Consider the following questions to guide your response:
   1. What historical data may affect the company as it expands?
   2. What potential future issues may arise based on current economic conditions?

Search the company’s most recent 10-K filing first for information on protentional international issues. Search in Part 2, Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations. If there isn’t anything in the filing, do an internet search for news stories and/or issues regarding the company’s experience with expanding into global markets.

SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS – ACC 345: Financial Statement Analysis/Business Valuation

[Insert text.]

7. Describe labor market trends in the company’s industry.

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8. Explain how labor market trends might impact the company’s operations.

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General Macroeconomic Analysis

1. Explain macroeconomic trends that might impact the company and/or its industry now or in the future. Consider the following questions to guide your response:
   1. How could economic output and consumption trends impact the company and/or its industry?
   2. How have interest rate changes impacted the company?
   3. How might the current Gross Domestic Product (GDP) and its projected future movement impact the company’s future operations?

[Insert text.]

2. Identify changes in monetary policy trends that impacted the domestic and/or global economy the company’s operates in.

[Insert text.]

3. Explain how monetary policy changes have affected the company and/or its industry.

[Insert text.]

4. Identify changes in trade policy trends that impacted the domestic and/or global economy the company operates in.

[Insert text.]

5. Explain how trade policy changes have affected the company and/or its industry.

[Insert text.]

Summary

1. Summarize your findings for the valuation team. Include the following details in your response:
   1. Explain what you learned as you researched the external factors for the company.
   2. Identify the key points the valuation team needs to be aware of.

[Insert text.]

2. Create at least one effective visualization that supports key points. Include the following detail in your response:
   1. Appropriate labels for the visualization(s).

Create an effective visualization(s) based on your research to support your summary report. Examples of ideas for your visualization(s) include a graph showing any of the key economic indicators over the past five years, showing changes in market share of key competitors over the past 3-5 years, or showing the industry outlook projections.

[Insert visualization(s).]

SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS – ACC 345: Financial Statement Analysis/Business Valuation

Milestone Three References

[Insert text.]

Project

Assumptions and Rationale

Address rubric criteria 1-7 in this section.

[Insert text.]

Analysis

Address rubric criteria 8-10 in this section.

[Insert text.]

Project References

[Insert text.]

Valuation Team Report

This Valuation Team Report will be submitted separately. Refer to the Project Guidelines and Rubric for submission guidelines.

SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS – ACC 345: Financial Statement Analysis/Business Valuation

ADDITIONAL INSTRUCTIONS FOR THE CLASS

SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS – ACC 345: Financial Statement Analysis/Business Valuation

We will process your orders through multiple stages and checks to ensure that what we are delivering to you, in the end, is something that is precise as you envisioned it. All of our essay writing service products are 100% original, ensuring that there is no plagiarism in them. The sources are well-researched and cited so it is interesting. Our goal is to help as many students as possible with their assignments, i.e. our prices are affordable and services premium.

• Discussion Questions (DQ)

Initial responses to the DQ should address all components of the questions asked, including a minimum of one scholarly source, and be at least 250 words. Successful responses are substantive (i.e., add something new to the discussion, engage others in the discussion, well-developed idea) and include at least one scholarly source. One or two-sentence responses, simple statements of agreement or “good post,” and responses that are off-topic will not count as substantive. Substantive responses should be at least 150 words. I encourage you to incorporate the readings from the week (as applicable) into your responses.

• Weekly Participation

Your initial responses to the mandatory DQ do not count toward participation and are graded separately. In addition to the DQ responses, you must post at least one reply to peers (or me) on three separate days, for a total of three replies. Participation posts do not require a scholarly source/citation (unless you cite someone else’s work). Part of your weekly participation includes viewing the weekly announcement and attesting to watching it in the comments. These announcements are made to ensure you understand everything that is due during the week.

• APA Format and Writing Quality

Familiarize yourself with the APA format and practice using it correctly. It is used for most writing assignments for your degree. Visit the Writing Center in the Student Success Center, under the Resources tab in Loud-cloud for APA paper templates, citation examples, tips, etc. Points will be deducted for poor use of APA format or absence of APA format (if required). Cite all sources of information! When in doubt, cite the source. Paraphrasing also requires a citation. I highly recommend using the APA Publication Manual, 6th edition.

• Use of Direct Quotes

I discourage over-utilization of direct quotes in DQs and assignments at the Master’s level and deduct points accordingly. As Masters’ level students, it is important that you be able to critically analyze and interpret information from journal articles and other resources. Simply restating someone else’s words does not demonstrate an understanding of the content or critical analysis of the content. It is best to paraphrase content and cite your source.

• LopesWrite Policy

For assignments that need to be submitted to Lopes Write, please be sure you have received your report and Similarity Index (SI) percentage BEFORE you do a “final submit” to me. Once you have received your report, please review it. This report will show you grammatical, punctuation, and spelling errors that can easily be fixed. Take the extra few minutes to review instead of getting counted off for these mistakes. Review your similarities. Did you forget to cite something? Did you not paraphrase well enough? Is your paper made up of someone else’s thoughts more than your own? Visit the Writing Center in the Student Success Center, under the Resources tab in Loud-cloud for tips on improving your paper and SI score.

• Late Policy

The university’s policy on late assignments is a 10% penalty PER DAY LATE. This also applies to late DQ replies. Please communicate with me if you anticipate having to submit an assignment late. I am happy to be flexible, with advance notice. We may be able to work out an extension based on extenuating circumstances. If you do not communicate with me before submitting an assignment late, the GCU late policy will be in effect. I do not accept assignments that are two or more weeks late unless we have worked out an extension. As per policy, no assignments are accepted after the last day of class. Any assignment submitted after midnight on the last day of class will not be accepted for grading.

• Communication

Communication is so very important. There are multiple ways to communicate with me: Questions to Instructor Forum: This is a great place to ask course content or assignment questions. If you have a question, there is a good chance one of your peers does as well. This is a public forum for the class. Individual Forum: This is a private forum to ask me questions or send me messages. This will be checked at least once every 24 hours. ACC 345: Financial Statement Analysis/Business Valuation

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We will process your orders through multiple stages and checks to ensure that what we are delivering to you, in the end, is something that is precise as you envisioned it. All of our essay writing service products are 100% original, ensuring that there is no plagiarism in them. The sources are well-researched and cited so it is interesting. Our goal is to help as many students as possible with their assignments, i.e. our prices are affordable and services premium. ACC 345: Financial Statement Analysis/Business Valuation

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