I’m working on a accounting Discussion and need an explanation to help me understand better.
For this assignment, go to: https://www.sec.gov/edgar/searchedgar/companysearc… (please reviewthe guides and search tools on this page)
a.what the EDGAR database purpose is
b. what EDGAR stands for (EDGAR is an acronym)Select the EDGAR SEARCH TOOL tab (see above) and select a publicly-traded company of your choice.1. Select the most recent 10K and review the annual report. This report will be many, many pages sojust scan the report to get a feel of the level of information in an annual report.
2. Based upon your review, answer the following questions:
a. What is the name of your company?
b. What is the CIK for your company?
c. What is the purpose of the CIK?
d. What is the SIC for your company?
e. What is the purpose of the SIC?
f. Using EDGAR and the SIC code, list 6 competitors of your company. (hint: use one of thecodes in the EDGAR search bar). Show a Screenshot the list of the 6 competitors listedby EDGAR.
g. Who were the outside auditors of the current annual report?
What type of audit opiniondid they receive? Screen shot the audit opinion signed by the outside auditors.
What arethe types of audit opinions they could have received?
h. What were the major revenue recognition policies of the company?
i. What is the current year’s current ratio? Screen shot the location of the 10K where youfound this information.
j. What Inventory valuation method did they use? Where did you find this information?
WhatGAAP did they use to assist you in finding this information?