Accounting Program Overview: SEC 10K Report Project for ACCT 321

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Accounting Program Overview: SEC 10K Report Project for ACCT 321

Accounting Program Overview: SEC 10K Report Project for ACCT 321
In Cost Accounting, the SEC 10K project focuses on cost-related accounts and disclosures found
in the financial statements and disclosure of the SEC 10K Report of a manufacturing
corporation. Using knowledge learned in prior accounting courses, students compare and
contrast the SEC 10K Report of a manufacturing to a non-manufacturing corporation.
ACCT 321: Cost Accounting//SEC 10K Project Requirements
Summary:
This SEC 10-K project challenges students to review, analyze, and interpret financial statements
and disclosures of a corporation headquartered in the U.S. To simulate processes used by
practicing accountants, students present analyses and findings to the class and participate in a
peer review process. The final deliverables include the following: a paper, spreadsheet, and
presentation file.
Outcomes: Analyze, interpret, and prepare a report on a U.S. publicly traded manufacturing
corporation using its most current SEC 10K report.
Competencies: Review components of SEC 10K Report, analyze financial statements, compare
and contrast with SEC 10K Report of non-manufacturing corporation, and interpret results.
Assessments: Assessments will include three documents: a paper, spreadsheet, and presentation.
Process:
1. Microsoft Word document:



Copy and paste key financial statements into your word document



They do not affect page count



You may find graphics in the SEC 10-K that illustrate topics



These items will assist readers as they review your paper:




Identify highlights of your financial analysis, and contrast to a nonmanufacturing (or manufacturing) corporation's financial statements using your
OWN WORDS.
What do you learn about the company?



What areas are changing and may be opportunities for cost control and
improved profits



Pricing and Sales: how are sales changing? While the SEC 10-K may not
reveal details (consider competitive advantage versus required disclosure)



As sales change, how does gross profit and net income change?



Vertical analysis, comparatively, from year to year, is helpful



Estimated length: five to seven (5-7) pages



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

2. FINAL Microsoft Excel spreadsheet:
After reviewing and considering student feedback and making revisions if necessary on
your DRAFT spreadsheet, post the following:


Company information



Income Statement



Balance Sheet



Financial statement ratios related to accounts specific to cost accounting for
manufacturing corporations. For example, ratios related to the three inventory
accounts, calculation of cost of goods sold, different product line sales in relation
to total sales, etc. Be creative and create meaningful cost accounting ratios to
assist management’s decision making.



Formulas must be embedded into the cells (preferable) or written beside the
cells.

3. Microsoft Power Point presentation


Imagine that you are preparing slides to make a formal presentation to the
senior management team of the corporation on opportunities for the future.



You may wish to add audio to the Power Point presentation file or provide
speaker’s notes embedded into the file in the notes section.



Prepare the following:

1. Cover slide
2. Brief description of corporation
3. Financial statement ratios you created and computed
4. Cost of goods sold calculation
5. Comparison of profitability of various product lines
6. Potential opportunities to control costs in particular product lines, departments, divisions,
etc.
7. Recommendations for sustaining existing product(s) lines based on cost analysis
8. Recommendations for eliminating or transitioning existing product(s) lines based on cost
analysis
9. Recommendations for potential market opportunities
10. Concluding thoughts (Would you recommend investment in this company?)

Additional Guidance on preparing the 3 deliverables:
1. The grading rubric found in the syllabus will be used to grade the deliverables.
2. Take care to avoid academic dishonesty. Create, read, and edit your work. Explain the
financial analysis you prepared in Excel, discuss relevant financial statement disclosure notes,
and any other cost accounting-related information using your own words.
3. Copying information from the Web and pasting it into LEO is plagiarism. Plagiarism is
cheating. Papers, spreadsheets, and discussion postings and all submissions must complete with
UMUC policies on this issue. Do not risk failure to comply.
4. Resources needed to complete this project are the SEC 10-K report, weekly discussion
questions and your answers, and course content in LEO. Additional research beyond these
resources is optional.

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