29 Jun Question Gulf University for Science and Technology
Question
Gulf University for Science and Technology
ACCT 500- Financial and Managerial Accounting Project
Fall 2013-2014
(Work in groups of fives)- Deadline for submission 10 December 2013
Select one company listed on the Kuwait Stock Exchange (exclude banks, insurance, real estate, financial services and investment instrument sectors) and obtain the most recent English copy if it’s annual report (2012 Annual report containing 2011 comparative figures) to shareholders (you should find the annual report under Investor Relations on the company’s website).
You are required to work ingroups of 5.Please email me names of group members and your selected company before29 October 2013.
Letter to Stockholders
Your annual report should contain a letter (or two) to the shareholders from one (or two) key officers of the company. Read it (them), and answer the following questions (for each one).
1. Who wrote the letter? What is that person’s position in the company?
2. In one hundred words or less, explain the basic message in the letter.
3. What is the basic pattern for letters of this type? How well does the letter fit the mold?
Other material
Your annual report most likely contains several pages of material between the Stockholders Letter and the financial sections, or possibly even before the Stockholders Letter.
4. Provide a description (one hundred fifty words or less) of this material and the message it communicates. Does it impress you?
Financial Highlights
5. Does the company present any financial highlights in the annual report to shareholders?
6. If so, what items is the company highlighting this year?
7. Do the highlighted items show the company in a positive, mixed or negative light? Explain.
8. What items are not included in the financial highlights that you think should have been included in the company’s list of highlighted items?
Explain your answer. [Hint: answer this question after you have completed the rest of the project.]
Fiscal Year
9. The fiscal year for the company extends from when to when? Where did you locate this information?
10. Explain why the company has chosen this particular time period for its fiscal year.
Balance Sheet
11. For which dates/years does the company report a balance sheet?
12. Using totals for each category (total assets, total liabilities, total Share Holders’ Equity), what is the balance sheet equation for the most recent year?
13. What three assets are largest in amount on the most recent balance sheet?
14. Does the make-up of the assets seem consistent with what you expected to see for this type of company? Explain.
15. What three liabilities are largest in amount on the most recent balance sheet?
16. Which is larger in amount for the most recent year, contributed capital or retained earnings?
17. Convert the balance sheet for each year into common size format (vertical analysis) and present neatly in columns.
18. What is the percentage of current assets to total assets for each year?
19. What is the percentage of current assets to current liabilities for each year? What does this ratio tell you? Compute the net working capital?
20. What is the percentage of total debt (liabilities) to total assets for each year (this is called the debt percentage)? Explain
21. Did the debt percentage increase (ratio of total debt to total asset), decrease or stay the same from the prior year to the current year? What do these numbers say about the company?
22. What is the percentage of stockholders equity to total assets for each year? Explain
23. Does the company’s ratio of stockholders equity to total assets seem consistent with the business risk of the company? Explain.
24 Compute the quick ratio and explain it. What do these numbers say about the company?
25. What was the percentage change in total assets from the prior year to the current year? Be sure t
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