Accounting

The company the report is on is Nordstrom. 


The textbook referenced is ISBN: 978-1-305-96188-3. I am going to attach the book as a PDF but it might be choppy.



Here are the questions that you need to address in your paper.  Be sure to use the press release released at the time I specified above and answer based on quarterly (not year to date) data.  Use your text and other resources as needed with regard to definitions, etc.  Remember to document where necessary, using APA style (both in text and references page).  For full credit, please number your answers to correspond with the related question rather than forging your answers into a continuous essay.

1)    To get started, answer the following.  

a)    In the first few pages of our textbook, the author sets out the objective of most businesses.  What is that objective?  Provide a bit of explanation of the meaning of that objective.  So, for example, if the text says that the objective of a business is to go green (that is not the answer), you would explain what going green means.     You should be able to find the answer to part a in the text with no problem. (5 points)

b)    What does the company say in its release about that objective?  Make reference to specific data, both dollars and change from the prior period.  In effect, what does the company say about achieving that objective during the quarter? (5 points)

c)     What does senior management have to say about the companys performance during the quarter?  (5 points)

d)    Give one other piece of information that the company discusses in its press release that you think is important.  Be specific and indicate why you selected that information.  The more important the information the more credit you will earn on part d.    (5 points)

 

2)    This question is about stakeholders.

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a)    Our text defines stakeholders in Chapter 1.  What is a business stakeholder?  (5 points)

b)    In Figure 2, the text gives examples of business stakeholders.  Select one of those stakeholders and tell me which you selected.  Then tell me why that particular stakeholder would be interested in the information in the press release.  Make it specific dont say I chose employees and they are interested because they want the company to do well.  You could say that about any business stakeholder.  Again, make it more specific.  (5 points)

 

3)    This question relates to financial statements that may be attached to your press release.

a)    Concerning your companys balance sheet: (5 points)

i)      Is there a balance sheet attached to the press release?  

ii)     If so, do the words balance sheet appear in the title of the balance sheet? If not, what does the company call it?

iii)    If your answer to ii above is no, how were you able to recognize the balance sheet?  If your answer to ii is yes, you do not need to answer this part iii.

b)    Concerning your companys income statement: (10 points)

i)      Is there an income statement attached to the press release?

ii)     If so, do the words income statement appear in the title of the income statement? If not, what does the company call it?

iii)    If your answer to ii above is no, how were you able to recognize the income statement?  If your answer to ii is yes, you do not need to answer this part iii.

c)     Are the financial statements for your company precise to the dollar?  Comment briefly.  Hint: begin at the top of the income statement (which is the name of the company) and begin reading down slowly and carefully and you will find the answer.  Students frequently answer this question incorrectly.  Follow my hint and look carefully.  This should be an easy one.  (5 points)

 

 

4)    Answer the following for the company you have chosen. 

a)    What amount of resources owned by the company is reported in its financial statements?  How can you tell?  This was covered within the first few classes in the course and the texts discussion of stakeholders and its first discussion of the accounting equation in chapter 1 may be useful in answering this part.  Use the index at the back of the book to help you find that information.  I need both a number and an indication as to where you found it.  (10 points)

b)    What is the amount of the total claim of shareholders against the assets of the company you have selected?  How can you tell?  This was covered within the first few classes in the course and the texts discussion of stakeholders and its first discussion of the accounting equation in chapter 1 may be useful in answering this part.  Use the index at the back of the book to help you find that information.  I need both a number and an indication as to where you found it. (10 points)

c)     What is the amount of the total claim of creditors against the assets of the company you have chosen?  How can you tell?  This was covered within the first few classes in the course and the texts discussion of stakeholders and its first discussion of the accounting equation in chapter 1 may be useful in answering this part.  Use the index at the back of the book to help you find that information.  I need both a number and an indication as to where you found it. (10 points)

 

5)    Does the company you selected sell to its customers on credit?  How can you tell? Be sure your answer is based on information in the press release and not on anecdotal information.  An answer like I shop there and I know they accept credit cards will not work.  (5 points)

 

6)    Does the company you chose have any debt on which it is paying interest?  How can you tell be specific and cite data.   (5 points)


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