Case: Examining an Annual Report: Internet-Based Team Research As a team, select an industry to analyze. Using your Web browser, each team member should access the annual report or 10-K for one publicly traded company in the industry, with each member selecting a different company.
Required: 1. On an individual basis, each team member should write a short report that incorporates the following: a. Read management's report on internal control effectiveness. Did any material weaknesses or deficiencies exist during the year? Did the external auditors agree with management's assessment?
b. How much did the company report in total Cash and Cash Equivalents? Does the company present sufficient information to determine the proportion of Cash versus Cash Equivalents?
2. Then, as a team, write a short report comparing and contrasting your companies using these attributes. Discuss any patterns across the companies that you as a team observe. Provide potential explanations for any differences discovered.