Discuss the similarities and differences between the US GAAP and International Financial Reporting Standards (IFRS) and how they relate to three different industries.
DQ1 Discuss the similarities and differences between the US GAAP and International Financial Reporting Standards (IFRS) and how they relate to three different industries. Cite the topic materials and outside resources to support the ideas presented. When replying to peers, provide additional examples that further compare and contrast these two sets of standards.
DQ2 Search the Financial Accounting Standards Board (FASB) website listed in the topic materials and identify a recently issued financial reporting standard. Write a one-paragraph summary of and its principal provisions. Search “Project Activities” to identify the reporting issue with the most recent update. Briefly describe the issue and the action taken by the FASB. Discuss the accounting implications of this action as it would apply to three different industries. Do not select a standard already addressed by your peers. In replies to peers, provide additional industry examples.
ACC670 Advanced Financial Statement Analysis
Week 2 Discussion
DQ1 Discuss three things one can learn from evaluating the cash flow statements of an entity. Explain why each of these is important for an analyst to understand in terms of the overall economic characteristics of a firm’s industry. Do not discuss items already addressed by your peers. In replies to peers, discuss whether you agree or disagree with the explanation provided by peers, and support your ideas by citing topic materials.
DQ2 The statement of cash flows provides information to assess the financial health of an entity. An entity with a healthy income statement is not necessarily financially healthy nor is an entity with healthy cash flows. Discuss other factors that must be considered when assessing the financial health of an entity and provide examples that illustrate each of the scenarios listed above. Use examples not already provided by your peers. In replying to peers, discuss additional factors that must be considered when evaluating the financial health of the entities discussed in the examples posted.
ACC670 Advanced Financial Statement Analysis
Week 3 Discussion
DQ1 A company president remarked, “The operations of our company are such that we can take advantage of only a minor amount of financial leverage.” In your own words, define financial leverage and explain how it works to the benefit of the common shareholders. Explain the likely reasoning the company president had in mind to support this statement. In your replies to peers, support or refute their ideas by providing specific reasons, examples, and facts as support.
DQ2 Obtain the latest Form 10-K for the company of your choice. Select a company that has not already been selected by one of your peers. Describe the significant risks the company identifies. Discuss whether any of these are unexpected based on your previous familiarity with the company. In replies to peers, discuss whether you agree with the risk assessment provided by the company and by your peers and explain why.
ACC670 Advanced Financial Statement Analysis
Week 4 Discussion
DQ1 Identify conditions that would lead an analyst to expect that management might attempt to manage earnings upward. Provide a specific example that illustrates this scenario. Do not use items already addressed by your peers. In replies to peers, provide additional supporting examples for this scenario.
DQ2 Assume that a corporation needs to enter the private debt market to raise funds for plant expansion. The corporation expects debt covenants to place restrictions on the levels of its current ratio and total-liabilities-to-assets ratio. Considering the accounts that comprise these ratios, provide examples of accounting estimates, accounting judgments, and structured transactions that the lender should examine closely and explain why each is important. In replies to peers, discuss additional information the lender should consider.
ACC670 Advanced Financial Statement Analysis
Week 5 Discussion
DQ1 Describe the impact of asset impairment of property, plants, and equipment or goodwill to financial statements for entities across three different industries. Discuss similarities and differences and why these occur. In replies to peers, discuss whether you agree or disagree with your peers’ assessment and why.
DQ2 Identify three different industries and explain the revenue recognition practices that would be applied to entities within each industry. Discuss similarities and differences among the industries and why they exist. In replies to peers, provide additional practices that could be applied to the listed industries or examples of other industries that might have the same practices.
ACC670 Advanced Financial Statement Analysis
Week 6 Discussion
DQ1 Analysts are encouraged to develop forecasts that are realistic, objective, and unbiased. Some analysts tend to be optimistic, some conservative. Describe the different risks and incentives that analysts face and how these different risks and incentives lead to different biases when predicting uncertain outcomes. Use specific examples to illustrate your ideas. In replies to peers, discuss whether you agree or disagree with their ideas and justify your stance using the topic materials.
DQ2 Explain how the concepts of additivity and articulation apply to financial statement forecasts and discuss how these concepts can help analysts avoid potential forecast errors. Provide an industry example to support your ideas. In replies to peers, provide additional examples to support or refute the ideas presented by peers.
ACC670 Advanced Financial Statement Analysis
Week 7 Discussion
DQ1 The topic materials describe valuation using free cash flows for all debt and equity stakeholders as well as free cash flows for equity shareholders. For each approach, supply one example of valuation settings in which that approach is appropriate. In replies to peers, supply an additional example and explain why it is appropriate by citing the topic materials.
DQ2 Discuss the pros and cons of the dividends-based valuation method. Illustrate your ideas by selecting a publicly traded company of your choice as an example in your discussion. In replies to peers, discuss whether you agree or disagree with their assessment and justify your assessment using the topic materials.
ACC670 Advanced Financial Statement Analysis
Week 8 Discussion
DQ1 Identify three economic and three accounting factors that will drive a firm’s price-earnings ratio in a given period to be higher than that of other firms in the same industry. Identify three economic and three accounting factors that will drive a firm’s price-earnings ratio to go down in a given period or decrease over time.
DQ2 In your own words, explain the theory behind the residual income valuation approach. Discuss why residual income value is relevant to common equity shareholders and explain the two roles of book value of common shareholder’s equity in the residual income valuation approach. In replies to peers, discuss whether you agree or disagree with their explanation of the theory and the role of book value of common shareholder’s equity.
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