Open the most recent 10-K (annual report). See instructions below on how to access SEC filings.
Type up your answers and include links to the annual (10-K) report as well as links to any other resources used.
Please do not put any personal information (like you name or student ID) on your submissions.
Provide answers to the following questions:
1. (up to 500 words) Introduce the Company. Describe the main products and/or services the company provides. Discuss anything else you believe is important for understanding the business environment in which the company operates and its production process.
Tip: Refine your firm introduction. Use insights from the creations you evaluated. Include information that will help your evaluators better understand your answers to the remaining questions.
2. (up to 500 words) Do you expect the company to use process costing or job costing for product costing? Discuss and explain. Make sure to explicitly state the product(s) or service(s) you are considering.
Do you expect many firms in your company?s industry to use process costing? Explain how you came to this conclusion by discussing two or more considerations.Instructions: How to access SEC filing
3. (up to 500 word) Read Item 1 “Business” in the 10-K. Describe two products or services that are either explicitly described as joint products, or that you believe are likely to be joint products. Explain what you think the split-off point would be and which method should be used to allocate the joint costs.
You may speculate if there is no information in your 10-K but your examples should make sense for your company. Provide explanations as needed.
Tip : If joint products are not mentioned, consider some of the products/services the firm provides. It does not have to be complicated, simple examples are fine.
Instructions: How to access SEC filings
- Visit the Security and Exchange Commissions (SEC) website: www.sec.gov
- Click on Flings and then ?Edgar – Search & Access?
- Select ?EDGAR full text search? (from the column on the left) and look up the company you were assigned. This search should result in a list of all the documents the company filled with the SEC over the last five years.
- Search for the most recent annual or quarterly report the company filled. To do so, you can use the Filing category option: Under filling category, click on ?All annual, quarterly, and current reports?. Open the most recent 10-K (annual report).