Assignment 1: Annual Report Project
Due week 8 and worth 240 points

The purpose of a corporate annual report is to communicate to stockholders and other interested parties its financial statements. The annual report is a summary of the corporation’s operations over the previous 12 month time period and states the corporation’s plans for the future. Many annual reports are created to resemble a corporate brochure, using lots of pictures, color, charts and graphs. Despite the fancy look, the main purpose of the report is to provide the year’s financial data, which comes from the corporation’s accounting system.

Instructions:
Obtain a current Annual Report for any U.S. company you are interested in analyzing. You may download it from its Website or from the LRC database called Mergent Online. Each student must choose a different company to analyze; therefore students must receive approval of your selected company from your professor by Week 5 of the class.

Write a 2-3 page paper in which you:

• Identify and explain the main sections of the annual report.
• Discuss the key factors that influenced the company’s financial performance during the year.
• Discuss the primary assets held by the company.
• Explain how management characterizes the internal control environment of the company.

Your assignment must:

• Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the tile of the assignment, the student’s name, the professor’s name, the course title, and the date. State the company name and reporting period on which you will be reporting on the cover page, such as “Coca-Cola, Fiscal Year 2010” The cover page and the reference page are not included in the required page length

The specific course learning outcomes associated with this assignment are:

• Identify and explain the fundamental concepts and principles in accounting, the components of the accounting equation, the primary financial accounting equation and financial statements and reports.
• Analyze the basic concepts related to accounting information systems.
• Use technology and information resources to research issue in financial accounting.
• Write clearly and concisely about financial accounting using proper writing mechanics.