I need a solution on – Write-up and not a bunch of cut & paste comments.-Write-up and not a bunch of cut & paste comments.

You have TWO companies to analyze and an additional paper comparing & contrasting the two companies. You know I want your original thoughts on the write-up and not a bunch of cut & paste comments. Get started now with the analytics (comparative financial statement, ratios, summary cash flow). Understand the trend of the company in those six elements before you start the write-up. When you start, be sure to incorporate my comments in your work. Don’t make the same mistakes or omissions. When you hit a problem and you need an assist on, email me. This assignment is worth 200 points which is 20% of the semester grade. Invest yourself in the assignment so you can earn a good score. We are in the home stretch of the semester, so don’t take your foot off the gas pedal yet. Make this last assignment your best. For the Final Case, your should submit five documents: JCPenney Analytics JCPenney Write-up Kohl’s Analytics Kohls Write-up Compare & Contrast Document (Covering the six areas) So each of you can take your performance up another notch, following are some points to include in your Final Case. For stock value ratios, let’s keep it simple and only use the basic numbers, not the fully diluted numbers. Be sure to spell the company names correctly. When discussing expenses, be sure to break them down at least by cost of goods sold, selling & administrative, and other. Each category needs to be evaluated. Please note on your financial statements if the numbers are in thousands or millions. That should be noted at the top of each financial statement. Be sure to include all the lines on the balance sheet in your directional analyses. You are not to stop at liabilities, do all the lines. Include an introduction and a closing summary paragraph for your write-up. Look for related items on the various analyses you do. For example, did COGS increase faster than sales? If so, what is the rate of change for the inventory on the balance sheet? How has the inventory turnover ratio changed? Is there anything in the management discussion and notes that provide insight into these changes? Overall, be specific and avoid general statements such as in cost control, “The company is doing a good job in controlling expenses”. What expenses? What is the evidence for that observation? There are some articles about these companies in this module on Canvas. Be sure to read them over, they can lead you to areas of concern. Do a simple Google search on each company. Are other current events that have been caused by there financial issues? As you finalize your cases, be sure to read the notes to the financial statements which are at the end of the financial statement for JCPenny and Kohl’s. You will find interesting information about their inventories, which is such a large amount of their current assets. What is their cost flow assumption? Has it changed in the last two years? We are looking at two retail companies. Who do they sell to, who are their customers? It’s us, retail consumers who purchase their products in the store or online. Do you have an Accounts Receivable open account with either of these stores? No, we pay cash or use a credit card. So we do not expect to see the typical Accounts Receivable. However, since they accept credit credits, wouldn’t they have a Credit Card Receivables account? When a company accepts a bank card for payment, the debit goes into a credit card receivable account, an asset. Depending on the credit card processor, the retailer will receive cash either the next day or day after. When cash is received from the credit card processor, the retailer will debit cash and credit the Credit Card Receivable account. It is a very short-term receivable. When you read the Notes regarding Cash & Cash Equivalents, you will find answers to questions that you may have about Accounts Receivable for each company. When you review long term debt, has it changed significantly? A large increase can indicate a buildup of inventory, a new product line has been launched, or maybe a major plant expansion has occurred. What expense is related to long term debt? Has it changed when you look at the horizontal analysis of the income statement? Do you see a change in Interest Expense? Your write-up should be start with an overall descriiption of the company. Is it a growing company. Are opening or closing stores? Are they expanding the product lines they carry? Are they changing their image to consumers? Be sure to look at their corporate websites under investor relations for recent news releases. For the final case, please add a summary paragraph at the end of the write-up. In the summary, please note the positive trends in the finances AND also note areas of concern that need more investigation. When you submit your case, look at the organization of your work. Do you have both horizontal analyses together? What do you see from that? Sales are a key barometer. If sales are up 20%, what increase do you expect to see with COGS? Is it in line with the sales increase? What about the operating expenses? Some of them are fixed and some are variable. At what point are you concerned with increases in operating expenses? If sales and COGS have increased, what is occurring with the inventory amount on the balance sheet? Are they being efficient with the dollars invested in inventory or does it seem out of control? In the Final Case, you are to provide an analysis for each company and then a third write-up comparing and contrasting to the two companies in those six area. Your analysis is from the perspective of the chief financial officer, not an investor. The third write-up also is a comparison of the strengths and weaknesses of the two companies. This needs to be thorough with well supported observations. It also needs an brief introduction and a brief closing summing of the differences. Be sure to read the additional articles on the two companies in the module on Canvas. You can add information from any other source on these two companies, just be sure to site those sources. Hello Financial Analysis Fans, We are in the home stretch of the semester. As you finalize your cases, be sure to read the notes to the financial statements which are at the end of the financial statement for JCPenny and Kohl’s. You will find interesting information about their inventories, which is such a large amount of their current assets. What is their cost flow assumption? Has it changed in the last two years? We are looking at two retail companies. Who do they sell to, who are their customers? It’s us, retail consumers who purchase their products in the store or online. Do you have an Accounts Receivable open account with either of these stores? No, we pay cash or use a credit card. So we do not expect to see the typical Accounts Receivable. However, since they accept credit credits, wouldn’t they have a Credit Card Receivables account? When a company accepts a bank card for payment, the debit goes into a credit card receivable account, an asset. Depending on the credit card processor, the retailer will receive cash either the next day or day after. When cash is received from the credit card processor, the retailer will debit cash and credit the Credit Card Receivable account. It is a very short term receivable. When you read the Notes regarding Cash & Cash Equivalents, you will find answers to questions that you may have about Accounts Receivable for each company. When you review long term debt, has it changed significantly? A large increase can indicate a buildup of inventory, a new product line has been launched, or maybe a major plant expansion has occurred. What expense is related to long term debt? Has it changed when you look at the horizontal analysis of the income statement? Your write-up should be start with an overall descriiption of the company. Is it a growing company. Are opening or closing stores? Are they expanding the product lines they carry? Are they changing their image to consumers? What there online presence? Be sure to look at their corporate websites under investor relations for recent news releases. I want to know the current news and trends for both companies. When you submit your case, look at the organization of your work. Do you have both horizontal analyses together? What do you see from that? Sales are a key barometer. If sales are up 20%, what increase do you expect to see with COGS? Is it in line with the sales increase? What about the operating expenses? Some of them are fixed and some are variable. At what point are you concerned with increases in operating expenses? If sales and COGS have increased, what is occurring with the inventory amount on the balance sheet? Are they being efficient with the dollars invested in inventory or does it seem out of control? Likewise with the vertical analysis of the statements, does it confirm what you see in the horizontal analysis? Does it raise additions areas of concern. Your ratios should be grouped together by type, ie. liquidity, activity, debt, profitability, and stock. Do the ratios confirm what you have seen in the horizontal and vertical analyses? Has a new area of concern arisen from the ratios. You should have a least two years’ worth of ratios since you have multiple years of financial statements for each company. Examine the financial statement from the viewpoint of the corporate controller. You are responsible for the day to day financial operations. You want the company to be on a solid financial foundation, with improvements underway in all areas. What are the relative strengths and weaknesses of the two companies? Is one company clearly in a stronger financial position than the other? Or are they both in about the same financial condition? What does the stock market think of each? That can be seen in the trend of their stock prices. You can go to Google finance and search for the company name. Once there, you can change the graph to show a one year period. What if any changes do you see in the stock price? Be sure to show a ten year history by quarter of the stock price of each stock. It will also show links to recent articles about that companies finances. Look at those also. B Be sure to put your name on each document. Also, your write-up should be organized and have paragraphs. One page paragraphs show you lack of attention to detail. When discussing expenses, be sure to break them down at least by cost of goods sold, selling & administrative, and other. Each category needs to be evaluated. Please note on your financial statements if the numbers are in thousands or millions. That should be noted at the top of each financial statement. Be sure to include all the lines on the balance sheet in your directional analyses. You are not to stop at liabilities, do all the lines. Include an introduction and a closing summary paragraph for your write-up. Look for related items on the various analyses you do. For example, did COGS increase faster than sales? If so, what is the rate of change for the inventory on the balance sheet? How has the inventory turnover ratio changed? Is there anything in the management discussion and notes that provide insight into these changes? Overall, be specific and avoid general statements such as in cost control, “The company is doing a good job in controlling expenses”. What expenses? What is the evidence for that observation? In the Final Case, you are to provide an analysis for each company and then a third write-up comparing and contrasting to the two companies in those six area. This write-up also needs to be thorough with well supported observations. It also needs an introduction and a closing summing of the differences. Based you analysis of both companies on the guidelines found in Module 7 in “A – Analytics Suggested Format” and “A – Write-Up Suggested Guidelines”. Be sure to read the additional articles on the two companies in the module on Canvas. You can added information from any other source on these two companies, just be sure to site those sources. This assignment is the goal we have working toward all semester. It needs a strong effort from each of you, so do not wait until the last minute accomplish this. A lack of planning and effort shows in your work. One last time I will say, if you have questions, For each company, a full analysis is required on each. As a pattern, you can use the sample spreadsheet which was made available in case one. Please remember to complete of the required comparisons and ratios. In addition to all of the quantitative analysis, a separate write up of observations & conclusions is required for each company. Please remember the viewpoint of your write up is the Chief Financial Officer of the company. What is your company doing well? What are the strengths of the company and why are these areas strengths? In which areas are you concerned for the company? What has caused you concern? It is expected that your analysis will reveal areas of concern for which you need more information, but you do not have it. Please list these areas which need more investigation and where you would like for the investigation to begin. Then after the individual write ups for each company are completed, you are required to submit a separate document of comparison and contrast of the two companies. In your comparison, you should look closely at these area within each company. Please use five years of data if you can locate the statements for the last five year. Sales growth in terms of percentage of increase and the numbers of stores. In you reading of the annual report, are either of the two companies adding product lines? Look at profitability treads for gross profit, operating profit and net income. How is the profitability changing between the two companies? Since these are large retail stores, what is the trend in inventory growth. Are the growing the inventory are can the accommodate the sales increases with about the current amount of inventory on hand? Please compare their inventory efficiency with the inventory turnover ratios for each company. How are the companies handling their long-term debt? What has been the debt to equity ratios in the last five years? Can you tell what has been acquired with the additional debt, if there is any? Lastly, let’s see what the stock market thinks each company’s performance. In what range has there share price been trading in the last five years? How has the Price to Earnings (P/E) ratio been during that time? What has taken place with each of these companies since the Annual Statement date? Search for new releases and other business articles publications about each company. To accomplish this, you will want to each the comments from each company about its year. Please check the news releases on each of the company’s web sites because one of the company has a release about store closings. New releases are usually found on the website under Investor Relations. Let’s us our understanding of financial statement analysis to develop an understanding and more questions about these two companies, JC Penney and Kohl’s.
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