Step 6: [Use the Excel & PDF Files] Write-up in Word (40 points)
(1) Based on the horizontal, vertical, ratio analysis you conducted, select 4-5 accounts that you would want to analyze as a manager or executive of this company.
(2) For each account you selected, you must provide a short explanation (1-2 sentences) of why you choose to analyze this account. Your reasoning for account selection should be based on what you have learned in class and the results of your analysis.
(3) After discussing why you selected the account, you need to explain what caused the change in the account (1-2 sentences). Find this information from the company’s 10-K and cite the page numbers.
Tip: Once you open the 10-K PDF file in Adobe Reader, select “Edit” and “Find” and then type the account you selected. It will help you find sections related to the account.
Tip: The examples below will help you understand how to write this section. That is, you can use these examples as your write-up templates.
(1) Accounts receivable, net: I chose this account because the results of horizontal analysis indicated that it decreased by $XX million and XX% from 2018 to 2019. The results of vertical analysis also indicated that this account decreased from X% of total assets in 2018 to X% of total assets in 2019. This account decreased mainly due to… (MGM Resorts International, 2020, p. X).
(2) Cash and cash equivalents: I chose this account since the results of horizontal analysis showed that this account had the most significant changes during 2019, i.e., $XX and XX%. This account also increased from X% of total assets in 2018 to X% of total assets in 2019. This account increased primarily due to the proceeds (cash received) related to…. (MGM Resorts International, 2020, p. X).
(3) Current portion of long-term debt: I selected this account because it showed the most significant percentage change during 2019. In particular, the results of horizontal analysis indicated that this account increased by $XX and XX% from 2018 to 2019. The major reason for this change is because the company…. (MGM Resorts International, 2020, p. X).
(4) Casino Revenue: I selected this account based on the results of the horizontal analysis. This account increased by $XX and XX% from 2018 to 2019. The results of vertical analysis also indicated that this account increased from X% of total revenue in 2018 to X% of total revenue in 2019. According to MGM’s annual report, this account increased primarily due to the following factors:… (MGM Resorts International, 2020, p. X).
(5) Gain on X: Based on the results of horizontal analysis, I selected this account since it showed the most significant amount change during 2019 (i.e., $XX). The company recorded a gain of $XX related to X, which reflects… (MGM Resorts International, 2020, p. X).
(6) Total Revenue: Based on the outcomes of horizontal analysis, I selected the company’s total revenue (i.e., consolidated net revenue). The amount of this account increased from $XX in 2018 to $XX in 2019, which is a X% increase. This change was mainly due to…. (MGM Resorts International, 2020, p. X). (7) Operating income: I chose this account, as the company’s operating income (i.e., consolidated operating income) significantly increased in 2019, compared to 2018 (i.e., increased by $XX and XX%). According to MGM’s annual report, this account was impacted by the following factors: … (MGM Resorts International, 2020, p. X). (8) Net income attributable to MGM Resorts International: I selected this account based on the results of ratio analysis. In particular, X ratio increased from X% in 2018 to X% in 2019. This account increased by $XX and XX%, mainly due to… (MGM Resorts International, 2020, p. X).
IMPORTANT: Your write-up should be minimum 1 page and maximum 2 pages, excluding the cover page and references page. Follow APA format. Double-spaced, Times New Roman & Size 12, and one inch page margin for all sides.
Step 7: Create a references page for your report following APA style (5 points)
Tip: Use the following website: https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/general_for mat.html
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