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Day 33 ….3/17

Day 33 ….3/17. Annual Reports. Day 34 ……..3/18. What is a Board of Directors for a company? Who is on the board? What is their role?. Board of Directors. Public company must have Stockholders elect board (term and numbers vary) Serve on committees: Audit (outside accountants)

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Day 33 ….3/17

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  1. Day 33….3/17 Annual Reports

  2. Day 34……..3/18 What is a Board of Directors for a company? Who is on the board? What is their role?

  3. Board of Directors • Public company must have • Stockholders elect board (term and numbers vary) • Serve on committees: • Audit (outside accountants) • Compensation (executives, stock options, bonuses) • Types • Inside – employees or major stockholders • Outside – chosen for business abilities (50%) Why?

  4. Day 35…..3/19 Match the following: Balance Sheet Income Statement Cash Flow Statement

  5. Annual Report • Letter to Shareholders • Annual Highlights • Financial Highlights* • Management’s Discussion and Analysis (MD&A)* • Results of operations ($ made and spent) • Capital resources (machinery, buildings, equipment) • Liquidity • Financial Statements • GAAP

  6. Notes to Financial Statements • Discuss info from MD&A • Report of Management on the Financial Statements • CEO & CFO (describe internal controls) • Report of Independent Auditor • “Back Cover” information • Top management, BOD, address, meeting time

  7. Financial Statements • Balance Sheet • Income Statement • Cash Flow Statement

  8. Balance Sheet Assets Current Assets 120,000 Cash Accts Rec Property & Equip 560,000 Other Assets 14,000 694,000 Liabilities & Equity Current Liabilities 420,000 Long Term Liability 34,000 Stockholders Equity 240,000 694,000

  9. Income statement (period of time/year) Sales/Revenues 350,000 Cost of goods sold/Cost of sales -175,000 Gross Profit 175,000 Operating Expense -25,000 Operating Profit 150,000 Interest Expense -32,000 Pre-tax profit 118,000 Income-tax expense -52,500 Net Income 65,500 Earnings per share $2 (35,000 share outstanding)

  10. Cash Flow statement (details) Cash from Operations: Pre –tax profit 118,000 Additions to Cash Depreciation 2,500 Decrease in Acct Rec 3,700 Increase in Taxes Pay 2,050 Subtractions from Cash Decrease in Acct Pay (14,350) Increase in inventory (17,920) Net Cash from Operations 93,980

  11. Cash from Investing: Equipment (57,500) Cash from Financing: Notes Payable 6,450 Net Increase or Decrease in Cash 42,934

  12. Money Smarts • Print performance (then trade) • Print Transactions • Why?

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