Need to have a high level report based on the attached information as well as a PowerPoint Presentation. The attached document in

Disney / NYSE / DIS

SEC 10-K: https://www.sec.gov/ix?doc=/Archives/edgar/data/1744489/000174448921000220/dis-20211002.htm

Report Details:

Each week's topic is the backbone for report and is the outline. That is your report's outline. Please include introduction (1 paragraph), company background (1 paragraph) and some on financial status (1 paragraph). Using your analysis and the topics covered, create a high-level report. Include a summary.

PowerPoint: Based off of the report and needs to be 10-12 slides (DRAFT ATTACHED)

Prepare your slides to make a formal presentation to the senior management team of your manufacturing corporation. Be creative and present an overview and meaningful.

Make sure to write millions after cost figures. Please use the weekly questions and answers as well as research using the SEC-10-K link to create the high level report.

1.  Microsoft Word document:

• Estimated length: 3-4 pages, single spaced • 1 inch margins top & bottom; 1 to 1.25 inches on left & right sides • Line spacing: single spacing with double spacing between paragraphs • Font size: 12 CPI • Font style: Times New Roman

Wk1:

1. Disney; NYSE; DIS

2. I would like to research Disney to see how this company operates and moves forward. They have some interesting revenue streams from movies, cruises to theme parks and curious how profits are from that.

3. SEC 10-k https://www.sec.gov/ix?doc=/Archives/edgar/data/1744489/000174448921000220/dis-20211002.htm

4. Fortune 500: 50

Wk2:

Category: Liabilities 1. What were the company's liabilities as displayed on the balance sheet for the most recent fiscal year?  Comment on the trend in total liabilities, both current and long term.   2. Notes to the financial statements:  What more do you learn about liabilities from these details? Category:  Contingencies 1.  Identify and describe any contingencies. How are they disclosed? 2.  Considering materiality as one component, what do you learn about contingencies from your review of the notes to the financial statements? Category:  Defining Contingencies 1.  What goals might management have regarding the disclosure of contingencies? 2.  Identify and explain gain contingencies as they apply to your company.

3.  Identify and explain loss contingencies as they apply to your company.

Category: Liabilities

Current Liabilities (2 October, 2021)	Long-term Liabilities (2 October, 2021
Accounts payable $ 20,894 Current portion of borrowings $5,866 Deferred Revenue $4,317 Total $31,077	Borrowings $48,540 Deferred income taxes $7,246 Other long-term liabilities $ 4,522 Total $60,308

 

1. What were the company's liabilities as displayed on the balance sheet for the most recent fiscal year?  Comment on the trend in total liabilities, both current and long term. 

In the financial year that ended 2 October 2021, the total current liabilities amounted to $31,077,000,000 while the long-term liabilities amounted to $60,308,000,00. The Current liabilities increased in 2021 as they amounted to $26,628,000,000 in 2020. The long-term liabilities however decreased in 2021 as they amounted to $77,409,000,000 in 2020.

Category: Contingencies

1. Identify and describe any contingencies. How are they disclosed?

One example of contingencies is the redeemable non-controlling interest which refers to stake ownership in an organization. It ascertains the investors or stakeholders owning the least or minority interest and tend to have the least influence over the management and decision-making of the organization (Abubakr, 2019). An NCI is disclosed as a long-term liability or part of the equity section as it displays non-controlling shareholders’ claims on the company’s property. It could also be displayed independently between equity and long-term liabilities as commitments and contingencies.

Category: Defining Contingencies

1. What goals might management have regarding the disclosure of contingencies?

The management of an organization needs to disclose its contingencies as it helps the company ascertain if the liability is more likely to occur and if the amount could be reasonably evaluated for future benefits (Abubakr, 2019). An organization also discloses contingencies to meet the accounting standards as the full disclosure principle of corporations needs businesses to display all data and information that could impact investment decisions.  It also helps the company ascertain if the liability could negatively impact its assets and profitability.

References

Abubakr, Z. A. (2019). The impact of disclosure of contingencies and subsequent events in the interim financial statements on the rationalization of credit decisions An analytical study of the opinion of a sample of credit analysts in a group of banks operating in the province. Zanco Journal of Humanity Sciences, 23(3), 53-71. http://zancojournals.su.edu.krd/index.php/JAHS/article/view/2537

WK3:

Category: Reporting Stockholders' Equity 1.  Explain the relevancy of your company's statement of stockholders' equity.  Your comments should include column titles as well as line items.  Any surprises related to items not included or items displayed?  What changes do you observe? An example would be treasury stock. 2.  Retained earnings or accumulated deficits: comment on the activity reporting, including references to previous fiscal year activity. Category: Common Stock, Dividends, and other activity 1.  Describe activity for this fiscal year and others disclosed relating to common stock, dividends, and related activity. 2.  Comment on concepts such as stock compensation and stock options.  What do you learn from the notes to the financial statements regarding these items? Category: Accumulated Other Comprehensive Income / (Loss) 1. Compare and contract items in the area of Accumulated Other Comprehensive Income / (Loss) for this fiscal year with other years disclosed in the statement of shareholders' equity. 2.  Provide additional details about accumulated other comprehensive income based on your review of the notes to the financial statements.

Category: Reporting Stockholders' Equity

Consolidated shareholders equity statements in the fiscal year, October 2, 2021.

Items	$ (in millions)
Shares	$1,818
Common stock	$55,471
Retained earnings	$40,429
Accumulated comprehensive earnings	$(6,440)
Treasury stock	$(907)
Total Disney equity	$88,553
Non-controlling equity	$4,458
Total equity	$93,011

 

To my surprise, the company has no additional paid-in capital. Additional paid-in-capital is derived when the company adds or pays money for a share above the per value. However, this is not the case as the company has no face value in the initial public offering of the shares. On the other hand, the treasury stock is negative (SEC, 2021). This means that outstanding stock is re-purchased by Disney company. It lowers the tangible net worth of the agency and the company's value.

 

Category: Common Stock, Dividends, and other activity

The DMED company has various activities reported in licensing and content sales. These activities include the post-production services that come in the look of Industrial light and magic and Skywalkers sound (SEC, 2021). Similarly, other activities such as 30% ownership in the interest in Tata sky limited cooperation. The significance of these activities acts as affiliate fees, subscription, advertising, revenues, theatrical distribution, and other licensing fees that customers are charged upon subscription and sports programming.

Category: Accumulated Other Comprehensive Income / (Loss)

The diluted ESP from the continuing operation in the overall comparable GAAP reflects on the attributed amounts of shareholders. Based on the evaluation of various segments, the changes affect the company portfolio and separate all the processes to ensure they don't affect the net income (SEC, 2021). This provides insight for both operations and other results. The cash flow provided for the fiscal year 2021 had reduced by $2.0 billion. The previous year was $7.6 as $5.6 from working capital impacts due to spending for film and television content. The capital expenditures decreased to $3.6 billion from $4.0 billion (SEC, 2021). These measures represent the operating cash flow in GAAP with all segments.

 

Reference

SEC, F. O. R. M. (2021, October 2). UNITED STATES SECURITIES AND EXCHANGE COMMISSION-THE WALT DISNEY COMPANY AND SUBSIDIARIES. Inline XBRL Viewer. Retrieved January 29, 2022, from https://www.sec.gov/ix?doc=%2FArchives%2Fedgar%2Fdata%2F1744489%2F000174448921000220%2Fdis-20211002.htm#i38ede6ac0fed40ab821ebfc9f1f7e403_211 

WK4:

Category: Investments 1.  Identify and explain the investments disclosed by your SEC 10-K company? Where are the disclosed?  Is there information you cannot access due to generalization and issues of materiality?  2.  Identify and explain trends in the investment holdings of your SEC 10-K company, comparing this fiscal year to previous years.  What detail do you learn from the notes to the financial statements?      Category:  Revenue Recognition 1.  How is the concept of revenue recognition disclosed in your SEC 10-K?  Identify and explain the recognition issues faced by your company.

2. Describe the sales and revenue issues of your company in terms of customers and sales types.

Category: Investments 1.  Identify and explain the investments disclosed by your SEC 10-K company? Where are the disclosed?  Is there information you cannot access due to generalization and issues of materiality?

The various investments disclosed by Disney’s SEC 10-K include:

Equity Investment- The Company has investments in media businesses that are accounted for under the equity method, the most significant of which are A+E and CTV. The Company’s share of the financial results for these investments is reported as “Equity in the income (loss) of investees, net” in the Company’s Consolidated Statements of Operations. I think that the SEC 10-K report of Disney company has disclosed sufficient information regrading their equity investment including the sub-category of this type of investment. For instance, under the equity investment, there are:

A+E is owned 50% by the Company and 50% by Hearst. A+E operates a variety of cable channels:

•A&E – which offers entertainment programming including original reality and scripted series

•HISTORY – which offers original series and event-driven specials

•Lifetime and Lifetime Real Women – which offer female-focused programming

•Lifetime Movie Network (LMN) – which offers female-focused movies

•FYI – which offers contemporary lifestyle programming

 2.  Identify and explain trends in the investment holdings of your SEC 10-K company, comparing this fiscal year to previous years.  What detail do you learn from the notes to the financial statements?

  The company’s investment holdings have a positive is positive with year. This means that the identified type of investment increases each year. In the year 2020, the company’s investment holding was $651(figures in millions), this number increased to $761 in the year 2021 indicating a 17% increase in the investment holding in 2021. The detailed assumptions made by accountants while compiling a company's income statement, balance sheet, statement of changes in financial position, or statement of retained earnings are disclosed in the notes to the financial statements. The notes are required reading in order to properly comprehend these publications. First, the "base for accounting" is explained, including whether cash or accrual rules were used to generate the papers, and then the techniques for reporting amortization and depreciation charges are explained in the subsequent notes in the series. The remainder of the comments go into additional into about how the figures were arrived at in this manner. This provides the reader with the information he or she needs to conduct a more in-depth study.

Category:  Revenue Recognition 1.  How is the concept of revenue recognition disclosed in your SEC 10-K?  Identify and explain the recognition issues faced by your company.

Net revenues are generally comprised of sales earned as a consequence of Representative orders less any discounts, taxes, and other deductions that may have been applied. We record income at the time of delivery, when ownership, as well as the risks and rewards associated with it, are transferred to the independent Representatives, who are the clients. Sales of services and products generate money in the internal financial systems, which are accumulated over time. Revenue is recorded when a product is provided; therefore, revenues recorded in the financial system must be lowered in order to calculate an estimate of the financial effect of products that have not been delivered by the end of each reporting period. When evaluating the adjustments to revenue and operating profit for products that have been shipped but have not yet been delivered as of the end of the quarter, the company makes estimates. All of these projections are based on daily sales volume and delivery lead times as well as gross margin and variable expenses.

References

Sec Gov. (2021). United States Securities and Exchange Commission – The Walt Disney Company. Inline XBRL viewer. SEC.gov. Retrieved February 7, 2022, from https://www.sec.gov/ix?doc=%2FArchives%2Fedgar%2Fdata%2F1744489%2F000174448921000220%2Fdis-20211002.htm

WK5:

Category: Operating Activities 1.  State whether your corporation uses the direct or indirect method of preparing the Statement of Cash Flows and describe how the Statement would be different under these two methods. 2.  What are the largest increases and decreases in the operating activities section of your corporation's Statement of Cash Flows? 3.  Given the industry your corporation operates in and the current economic environment, explain any unexpected operating activities that caused cash flow to decrease.    Category: Investing and Financing Activities 1. Explain similarities and or differences in preparing the Statement of Cash Flows using International Financial Reporting Standards (IFRS). 2.  Describe investments reported on your corporation's Statement of Cash Flows in the current and most recent past year. 3.  Review your corporation's Statement of Cash Flows over the past 3 years and explain any financing trends.

1.  State whether your corporation uses the direct or indirect method of preparing the Statement of Cash Flows and describe how the Statement would be different under these two methods.

A cash flow statement is a report produced by a company, referring to how finances go in and out of business hence monitoring the inflows effectively. Cash flow statements are usually prepared using two methods: direct and indirect methods with each methods having a unique stye. The direct method tracks the finance inflows within a specified period and identifies the changes in cash payments and receipts due to business activities. This method applies the difference between expenditures and cash receipts. The indirect method takes the company’s net income from the financial statement and put back depreciation, while still indicating changes in the liabilities and assets (Elahi et al., 2021). The direct method generated the Disney cash flow statement as per the descriptions. The statement begins with the revenues, the expenses incurred, and the difference to know the net profit or loss. If it were indirect, the statement would involve liabilities and assets.

2. What are the largest increases and decreases in the operating activities section of your corporation's Statement of Cash Flows?

The cost of products decreased by $472 in the financial year 2020-2021. This decline could be attributed to the lower price of material or fewer products purchased. The administrative, selling, and general costs increased by $1,148, thus indicating higher operating costs in 2020-2021. Income acquired from other sources declined sharply from $1,038 to $201 ($837), which could probably have contributed to the company’s net loss in 2020-2021.      Revenues fetched from services increased sharply from $59,265 in 2020 to $61,768 in 2021 ($2,503), which may mean an increase in demand for Disney company services. However, the revenue fetched from products sold declined with a significant margin of $473, which might be attributed to better and or cheaper products from Disney's’ competitors. Therefore, 2020-2021 had mixed revenue increases and declines, but operating expenses increased more than the income generated. The increased operating costs were attributed to increased costs of raw materials.

1.  Describe investments reported on your corporation's Statement of Cash Flows in the current and most recent past year.

 

In 2021, Disney Company invested in media and entertainment distribution, arks, experiences, and products. For Disney parks and products, $444 was invested, while media and entertainment distribution were allocated a total of $862 in 2021. These capital investments are mainly in technologies, facilities, and equipment to improve broadcasting centers, production, and television station facilities. The capital expenditures in 2020 were less than 2021 due to slowed-down economic activities caused by COVID 19. The reduced capital expenditure was attribute to reduced sales which is a major source of income for the company. However, due to the importance of capital investment to the growth of Disney company, in the year 2022, the company will invest 6.1 billion dollars compared to 2021, in which 3.6 billion dollars was invested. The capital investment is expected to boost the operation and the company. In addition, the capital investment is expected to cater for the of portfolios that have suffered decline in growth during the pandemic.

 

References

Elahi, M., Ahmad, H., Ulhaq, S. M., & Saleem, A. (2021). The impact of operating cash flows on financial stability of commercial banks: evidence from Pakistan. Journal of Asian finance, economics and business, Vol 8 (11), 0223-0234.

Sec Gov. (2021). United States Securities and Exchange Commission – The Walt Disney Company. Inline XBRL viewer. SEC.gov. Retrieved February 7, 2022, from https://www.sec.gov/ix?doc=%2FArchives%2Fedgar%2Fdata%2F1744489%2F000174448921000220%2Fdis-20211002.htm

(NOTE: Take care with the concept of $ dollars. Many financial statements are expressed in millions of $. You would report $895 million for the value $895,000,000. Be a very careful reader.)

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Rubric:

ACCT Project Instructions

Accounting department curriculum requires an SEC 10-K Report Project in multiple courses from introductory to advanced-level classes, including:

· Intermediate Accounting II

In each course, you will examine different companies focusing on related-course content. This allows you to build your knowledge of accounting and industries.

The Principles of Accounting I & II courses introduced you to specific components of an SEC 10-K Report as bases for fundamental financial ratio analyses and interpretation of results for a selected corporation. In the more advanced accounting courses, including Intermediate Accounting I & II, you will delve deeper into analyzing financial statements, schedules, and notes to gain a more in-depth understanding of a corporation through its SEC 10-K filing. 

Project Descriptions

As an analyst for a large U.S. multinational corporation, you are to examine a possible acquisition candidate, completing an initial search, analysis and review. Your supervisor is a member of the Controller's team. The Controller reports directly to the Chief Financial Officer (CFO). Your work may be presented to various audiences, so professionalism is essential in all deliverables you create.

Write your report, read carefully, and consider possible edits and changes.

Start early. You have sufficient time to complete this project if you plan accordingly. Your report should consist, at a minimum, of the following:

· 3 – 4 pages single spaced, double space between paragraphs. Page count does not include title page, tables and exhibits, table of contents, and works cited list.

· title page

· works cited (business classes use APA format)

· in-text citations (business classes use APA format)

· tables, and appendixes if you wish to copy and paste financial statements or materials you did not write (these will not be part of the 'page count', and ensure the datatable is large enough to read clearly)

· Your report should use one-inch margins on the left, right, top, and bottom of each page, and font set at 12 points.

· Write your report, in your own words, using accounting terminology and phrases from our textbook and explaining how these relate to the financial statements of your company

· Our discussion postings during the semester should assist you in completing this report (included on instructions)

Written Assignment: SEC 10-K Analysis

Using the Internet, access the SEC 10-K annual report for a publicly traded company of your choice. The company must have inventory and accounts receivable.

You must select a company that is publicly traded SEC 10-K and has inventory and accounts receivable. Most students find the SEC 10-K annual report at their company's website in sections such as About Us and/or Investor Relations. Look for SEC and Annual Filings (you will often find drop-down menus to click). You must research and secure the SEC 10-K Annual Report for the most recent year. Save the file to your computer for access. Do not print as the report is usually 100 pages or more. Post the name of your company, the SEC 10-K web link, and how you found the SEC 10-K in the SEC 10-K discussion for approval by your professor.

Review the company's MD&A (Section 7), Notes to the Financial Statements (Section 8) addressing FASB changes as required by your professor, as well as financial statements and other pertinent accompanying footnotes. Use this information to prepare your "analytic" results. You may want to seek additional background and comparative data on the business. Yahoo Finance has a "competitors" feature we will discuss in class.

If specific FASB pronouncements defined during the class required the restatement of prior period earnings or other adjustments, those should be highlighted in your analysis. If these did not occur, you must confirm that your research did not highlight any required restatements.

Use terms from our class and create displays using the SEC 10-K for your company. The use of headings will label the sections in your report. Your goal is to explain the financial statements and the information of the SEC 10-K with the knowledge you learn from our class. While not describing every item in the SEC 10-K, your report should tell a story and illustrate your mastery of accounting terms, concepts, and the impact of recent pronouncements. No more than one paragraph should be devoted to your company's history and non-financial information.

A PowerPoint presentation will also need to be prepared to cover the highlights of your report. A PowerPoint presentation is a high-level summary of your written analysis and paper. Do not use paragraphs or even complete sentences, use sentence fragments or “bullet” points. Charts, tables and graphs add value and information to the presentation but ensure there is narrative to explain and support the graphs. The presentation should be sufficiently sized to explain your analysis. Only one slide is required to present the Corporations history and structure: all other slides focus on the prepared research. Please post the presentation in the designated SEC 10-K discussion near the end of the semester to share with other students. Read your classmate's presentation and provide comments to at least one other posting.

After the discussion week, you should review your PowerPoint presentation and submit the final version in the assignment folder. This is the PowerPoint file I will grade. The PowerPoint Presentation discussion is part of participation and designed to assist you in creating your final project. However, if you fail to participate in that discussion, it may affect the 'grade' for your PowerPoint Presentation.

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