acc 561 dq

financial statements getting started

1. Visit the website of your favorite U.S. company.  Find the company's financial statements in the section of the website for investors. You are looking for the full annual report- also called a 10-K. It may be listed under SEC Filings. Make sure it is the most current published year.  Post a link to the statements. What did you find interesting about each of the four financial statements, which include balance sheets, income statements, statements of cash flows, and statements of owners' equity and notes? How could the information in those statements be useful to an investor and to a manager?

Arthur Anderson Verdicts overturned

2. Please read the attached NY Times article. Partners at Arthur Anderson were initially convicted of wrongdoing and obstruction of justice, the verdict was overturned by the Supreme Court in 2005. See why in this article.

http://www.nytimes.com/2005/06/01/business/analysis-reversal-of-andersen-conviction.html