Expert answer:Help with group financial statement analysis proje
Answer & Explanation:This is a project with other people in the group. The project is this:
GROUP FINANCIAL STATEMENT
ANALYSIS PROJECT
The objective is to prepare a report comparing two
firms that are competitorsin the same
industry (WE CHOSE HOME DEPOT VS LOWE’S) to determine which company appears to be a better
investment from the viewpoint of a potential shareholder. The two
companies should have same fiscal year end, preferably December 31. Report your findings in a powerpoint format. The
length of these options is up to you, but there must be sufficient materials
presented to provide a critical analysis of the project.
My job is to:
·
According to the management report (also called
“Responsibility for Financial Reporting”), who bears responsibility for the
integrity and objectivity of the financial statements?
– What means does management use to assure that the financial
information is reliable?
– An audit committee is comprised of several members of the
board of directors. The committee acts
as the liaison between the independent auditor and the corporation. What is the responsibility of the Audit
Committee of the Board of Directors?
·
Discuss the audit
report:
– Who is the corporation’s independent auditor and in which
city is the auditor located?
– List and explain the types of audit opinions.
– Read the auditors’ opinions of the companies and indicate
the type of opinion expressed by the auditors.
– An auditor’s report will state the responsibility of the
auditor. What is the responsibility of
the auditor with regard to the financial statements.
– What guidelines do the auditors use to conduct the audit?
– Do the auditors believe the financial statements were
presented fairly? What statements in the
audit opinion support your conclusion?
·
Present a
comprehensive financial statement analysis.
Prepare the common size statements and all the ratios and amounts for
the measures given below for the three most recent years for both of your
companies and present in a clear tabular form.
Then discuss each category given below.
– Common-Size financial Statements
– Ratios from chapter 15
( I can scan the pages. It is GARRISON NOREEN BREWER- MANAGERIAL
ACCOUNTING 15TH EDITION)
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