- Choose a company from the US market.
(If you wish you can choose the company from another country, but it should be IFRS reporting available).
- Take the most recent yearly financial statement available (called 10K report).
- Explain how the company is doing revenue recognition. Does the company use any managerial assumptions in the revenue recognition?
- Which method company is using to recognize bad debts? Check how allowance for bad debts changed over the last 2-3 years.
- Which method company is using to recognize inventory? LIFO or FIFO? If a company uses LIFO, compute approximate tax savings using tax rate of 30%. In addition, compute COGS and Inventory under FIFO.
- Check which assumptions your company is making for depreciation.
- Make a conclusion. State any unusual assumptions you have found or summarize the main findings.
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