Week 1 Discussion 1 Contents of an Annual Report

Discuss the following scenario: Staff members from the marketing department of your firm are doing a splendid job selling products to customers. Many of the customers are so pleased that they are also buying shares in the company’s stock, which means that they receive a copy of the firm’s annual report. Unfortunately, questions sometimes arise that the marketing staff members are woefully inadequate at answering. Technical questions about the firm’s financial condition and performance are referred to the chief financial officer, but the director of marketing has asked you to write a memo in which you explain the key elements in an annual report so that marketing representatives are better prepared to respond to questions of a more general nature. For your initial post, write a clear, concise memo (no more than 250 words) that describes the contents of an annual report so marketing personnel can understand the basic requirements of an annual report. Reference this week’s readings and lecture to help organize and explain your thoughts. In addition, answer the following questions: • Do you think all marketing staff members should be equipped to speak with the public about the firm’s financial matters? • What are some of the benefits of improving employee financial literacy? References Epstein, L. (2014). Financial decision making: An introduction to financial reports [Electronic version]. Retrieved from https://content.ashford.edu/ Articles Crooks, R. (2014, January). 12 lessons from Warby Parker's annual report (Links to an external site.)Links to an external site.. Forbes. Retrieved from http://www.forbes.com/sites/rosscrooks/2014/01/30/12-lessons-from-warby-parkers-annual-report/ Ford Motor Company. (2014). Ford Motor Company Form 10-K (Links to an external site.)Links to an external site.. Retrieved from http://www.sec.gov/Archives/edgar/data/37996/000003799613000014/f12312012-10k.htm  Recommended Resources Articles Carleton, T. (2008, December). Financial statement basics (Links to an external site.)Links to an external site.. Forbes. Retrieved from http://www.forbes.com/2008/12/15/margins-earnings-roi-pf-education-in_tc_1215investopedia_inl.html Harper, D. (n.d.). Financial statements: Who's in charge? (Links to an external site.)Links to an external site. Investopedia. Retrieved from http://www.investopedia.com/university/financialstatements/financialstatements1.asp Harper, D. (2009, February). Financial statements: Introduction (Links to an external site.)Links to an external site.. Investopedia. Retrieved from http://www.investopedia.com/university/financialstatements/ Website U.S. Securities and Exchange Commission. (n.d.). Beginners' guide to financial statements (Links to an external site.)Links to an external site.. Retrieved from http://www.sec.gov/investor/pubs/begfinstmtguide.htm