Your Company FinalAnalysis and Evaluation
ACG 5153 FinancialStatement Analysis
Your Company Final Analysis and Evaluation
Throughoutthis semester, you have completed various analyses of the company that youselected, Your Company, to review. For your final analysis and evaluation,the Business Report, use the weekly assignments as a starting point andcomplete each of the steps below to analyze and evaluate the company youselected. Prepare a well written Business Report to present your findings. Yourfindings in your Business Report must be in your own words. All financialstatement and related schedules in the report must be in good format and insummary format. DO NOT cut and paste entire YC assignment spreadsheets into thereport. Appropriately modify, title, and insert relevant sections from yourYC Excel spreadsheets in the report.
UseExhibit 1.2 to review the steps to complete this project:
Thesix steps above were discussed in Week 1, Chapter 1. In addition, there is acomprehensive Financial Analysis PowerPoint in the Your Company module on Canvas thatyou can review for a detailed explanation of each of these steps.
Step1: Identify Economic Characteristics andCompetitive Dynamics in the Industry Economic characteristics and competitivedynamics influence the strategies companies will employ.
Describe Your Companyand its industry, and complete one of the tools described in Chapter 1 forstudying industry economics. Your analysis must discuss the economiccharacteristics and competitive dynamics of the industry.
Include thecommon-size income statements and balance sheets for your company. Compare thefinancial statement ratios for your company to industry ratios (see Appendix D[1])and assess how your company compares to the industry. Show the industry ratiosused in your analysis and cite the source(s) for the ratios.
Step2: Identify Company Strategies Read themost annual report for the most recent two years and any additional items onthe companys website to identify your companys strategies. Review recent newsand conduct other research to prepare a complete discussion of the companysstrategies. Cite the sources you use to support your statements and conclusionsand submit .pdf copies for each of the your references.
Step3: Assess the Quality of the FinancialStatements Review the quality of the financial statements as discussed inChapter 1 and Chapter 6 and identify:
What potential areason the companys financial statements could compromise the quality of theirfinancial statements? Explain.
Discuss yourassessment of the quality of their financial statements based on the researchand analyses you have completed.
Step4: Analyze Profitability, Growth, and Risk Analyze the following for your company using the ratios and risk analyses youcompleted in assignments YC#4 thru YC#7. (DO NOT use the Mergent ratiosin your analysis and evaluation.) Include a summary of the ratios in each ofthe following categories for the last three (3) years for your company in thereport:
Profitability
Growth, Leverage
Liquidity, and
Activity
Discusswhat the ratios tell about your companys profitability, risk, and its value atthis time. Remember that your analysis must be in your own words.
Step5: Project Future Financial Statements Prepareprojected financial statements (Common-size Income Statements, Balance Sheets,and Statements of Cash Flows) for your company using the shortcut approach toforecasting. Project the three years of financial statements for your company.Develop the growth rates using the last three years of growth in sales andassets state the growth rate used and justify using the rate.
On the incomestatements, use common size income statement percentage for the most recentyear to calculate/forecast expenses.
On the balance sheets,use common-size percentages for the most recent year to project individualassets, liabilities and paid-in capital accounts.
All subtotals in theforecasts should be calculated and NOT based on common-sized percentages.
Step6: Value the Firm Using the analyses fromsteps 1-5 above and the simple firm valuations methods discussed in Chapter 1,assess whether your company is overvalued, undervalued? Discuss the currentstock price and the PE ratio in your valuation analysis. Provide justificationfor your determination. Show in your discussion that you have thought throughand connected the results reported in steps 1-5 above.
Submission Requirements:
Createa business report with a heading for each section to present your findings forStep 1 through Step 6 above. The headings for the six sections of the reportmust be as follows:
EconomicCharacteristics and Competitive Dynamics in the Industry
Company Strategies
Quality of theFinancial Statements
Profitability, Growth,and Risk
Projected FinancialStatements
Firm Valuation
Referto the Rubric for Assessment of Your Company Analysis and Evaluation toensure that your Business Report meets all of the grading criteria. The reportmust be typed, professionally presented, and, saved and submitted as a MicrosoftWord document. The maximum length for the written partof the report is four (4) full single-spaced pages using Times NewRoman-12 font with 1-inch margins all around (exclusive of summaryfinancial data inserted into the report). All financialstatements and related schedules presented in the report should be in goodformat and in summary format. DO NOT cut and paste entire YC assignmentspreadsheets into the report. Appropriately modify, title, and insert anyrelevant sections from your YC Excel spreadsheets in thereport. Submit an electronic copy of your Business Report, Excel spreadsheets,and .pdf copies of other supporting documents, to the Canvas dropboxes by the due date and time. The due date and time for the assignment isavailable on the Canvas course site. Submit your completedanalysis and evaluation on Canvas as indicated below.
What to submit to Canvas:
Thereare Canvas Drop Boxes for:
Your written Business Report as a MSWord Business Report FOR EACH CALENDAR DAY it is late. A late reportwill not be accepted after three days beyond the due date.
[1] Another more current source for industry ratios may beused. Cite, provide a link to, and a .pdf copy of the source for the industryratios.
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