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This assignment will be submitted to Turnitin®. My company is Johnson and Johnson(2020)https://www.sec.gov/ix?doc=/Archives/edgar/data/ XXXXXXXXXX/ XXXXXXXXXX/jnj...

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This assignment will be submitted to Turnitin®.
My company is Johnson and Johnson(2020)https://www.sec.gov/ix?doc=/Archives/edgar/data/ XXXXXXXXXX/ XXXXXXXXXX/jnj XXXXXXXXXXhtm#if410ee6e03c8456f86a9fee997f08e65_34
Instructions

ACCT XXXXXXXXXXK Project Instructions

Overview

As an analyst for a large U.S. multinational corporation, you are assigned to examine a possible acquisition candidate, completing an initial search and review. Your supervisor is a member of the Controller's team. The Controller reports directly to the Chief Financial Officer (CFO). Your work may be presented to various audiences, so professionalism is essential in all deliverables you create. As you review historical financial statements, you cannot conclude if this company is a good investment.

  1. Select a publicly-traded company from theFortune 500list.
  2. The company must have Accounts Receivable and Inventory. You must select a retail or manufacturing company.
  3. You must research and secure the SEC 10-K Annual Report for the most recent year by visiting and searchingthe SEC EDGAR system.
  4. Save the 10-K document to your computer for access. Please do not print this file, as the report is usually 100 pages or more.
  5. Use the selected company in the discussion postings throughout the semester. The discussion questions are designed to help you build content for your report and presentation.
  • Reading an SEC 10-K Report: The following link will access the SEC's document: How to Read an SEC 10-K Report.http://www.sec.gov/answers/reada10k.htm

Course Learning Objective Assessed: Identify and communicate with accounting and financial information users to facilitate analytical decision-making.

Report Requirements

Report Content

  1. Post the name of your desired company in the Week 1 SEC 10-K Project discussion for your instructor's approval. Your post must answer all parts of the discussion.
  2. Each student must select a different company, so read the company names chosen by classmates. The company must be a publicly-traded company from theFortune 500list.
  3. Your report should comment on the financial statements for your company as they relate to the information presented through Week 5 material for this class, including the notes to the financial statements.
  4. Do not consider the material from Weeks 7 and 8 in your report.
  5. The report must be submittedafterWeek 5 material.

Report Layout

  1. Write a minimum of a 3-page (a full-page typically has at least 300 words) report, single-spaced, one-inch margins, 12-point font, with a double space between paragraphs. This page requirement includes data visualization (charts and graphs) that you create.
  2. Page count does not include a title page, tables and exhibits, and reference list.
  3. Include a title page (include your name on the title page). The report must consist of headings such as Accounts Receivable and Inventory (topics from the textbook); other examples would be Income Statement, Balance Sheet, and the Statement of Shareholders' Equity.
  4. Include a brief introduction of your company as well as a conclusion/summary at the end. Most of your report should include accounting topics in weeks one through five.
  5. You must consist of the Income Statement, Balance Sheet, Statement of Cash Flows, and Critical Audit Matters.
  6. You are to compare current and prior year statements and what changed. You can copy directly from the SEC 10-K Report. The statements are not included in the page count.
  7. APA 7th edition style is required for citations and a reference list. The report must include the reference list.
Answered 10 days After Feb 01, 2022

Solution

Insha answered on Feb 12 2022
118 Votes
Running Head: PASTE YOUR TITLE OF ASSIGNMENT    HERE            1
ACCOUNTING                                        3
ACCOUNTING
JOHNSON AND JOHNSON
Table of Contents
Introduction    3
Company Background    3
Income Statement    3
Balance Sheet    4
Statement of Cash Flows    5
Critical Audit Matters    5
Conclusion    6
References    7
Introduction
This paper investigated SEC 10k report of Johnson & Johnson. In this report it will be analyzed the Accounts Receivable and Inventory of the company, for instance, Critical Audit Matters, Statement of Cash Flows, Income Statement and Balance Sheet. This paper will also compare prior year statements, cu
ent year statements and the aspects, which changed. Lastly, it will be concluded by summarizing the closing of the company.
Company Background
Johnson & Johnson (J&J) is an American multinational firm that produces consumer packaged products, medical equipment and medicines. It was founded in 1886. In November 2021, the firm announced that it would split into two publicly listed companies, one focusing on consumer goods and the other on medicines. There are around 250 subsidiary firms in the corporation, with activities in 60 countries and products marketed in over 175 countries. In the calendar year 2020, Johnson & Johnson had global sales of $82.6 billion (Livingston, Malani & Creech, 2021).
Income Statement
“The income statement is a financial statement that shows the financial outcomes of a company's business operations over time. The income statement shows how much money a firm made over a certain time and how much it cost to make that revenue.” (Investor, 2020) From 2018 to 2019 and from 2019 to 2020, Johnson & Johnson's client sales grew. Operating earnings at Johnson & Johnson grew from 2018 to 2018, but then fell dramatically from 2019 to 2020 (Investor, 2020).
In addition, earnings before allowance for income taxes and net earnings fell (Investor, 2020). When the Company fulfils its commitments under the terms of a contract with a client, revenue is recognized. Discounts, product returns, coupons, trade promotions, sales incentives and Provisions for rebates to consumers are reported as a reduction in sales and accounted for as variable consideration.
The pharmaceutical goods company's sale within the United States accounts for a large share of the rebate liabilities. Allowances for...
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