Selling Sneakers

In discussion posts #1 and #2, we chose one of five sneaker companies and located either their annual report or the most recent set of financial statements, then determined where to find some of the major amounts listed on those annual reports.  In Post #3, we examined the inventory ratios and ventured into the notes to the financial statements.  This week, we venture into the cash and internal controls area.

For your discussion post:

You must post your work first before you may see other posts. Just do your best with the answers. We are learning how to read financial statements. 

  1. Do an internet search for fraud and internal controls for the sneaker company that you have chosen. . Explain what you find (and cite your sources). Did you find any news on fraudulent activity?
  2. What does management say about internal controls in the company’s annual report? Do you agree with the statements? Why or why not?
  3. Read the financial statement footnote in the annual report that describes the company’s cash and cash equivalents. Where does most of the company’s cash come from? Is this evidence of a strong business? Why or why not?
  4. Is it good for the company to have a lot of cash on hand? Why or why not?

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