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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Getting Familiar with the Format of the 1 0-K

Look up Columbia’s 10-K for 2016 (tiled February 23, 2017). It can be found online (which allows you to search and reference the entire 10-K) by searching for “Columbia Sportswear investor relations.” Once at that site click on Financial Information” then “SEC Filings.” move the “View” pull down menu to “Annual Filings,” and click the “Search” button.

Required:

Answer the following questions and include in which item number of the 10-K the information was found:

1. Where arc Columbia’s Apparel items manufactured?

2. Name Columbia’s four primary brands.

3. Describe the seasonality of Columbia’s business. Specifically, in which half of the year did Columbia experience the highest proportion of its 2016 net sales and net income?

4. Is Columbia involved in any litigation that may materially affect its financial position?

5. Net sales in the United States increased by 3% in 2016. What line of business is responsible for this increase in sales?

6. What method of depreciation does Columbia use? What is the range of useful lives for machinery and equipment’?

7. Who audits Columbia?

To determine

(a)

Introduction:

The SEC Form 10-K contains a detailed audited report of a company’s financial statements that all public companies needs to submit withSecurities and Exchange Commission annually. The companies are required to disclose all relevant information regarding their financial position

To state:

The place where Columbia’s apparel items manufactured.

Explanation

The apparel items of Columbia are manufactured in 17 countries with Vietnam and China accounting for app...

To determine

(b)

To name:

Columbia’s 4 primary brands.

To determine

(c)

To describe:

The seasonality of Columbia’s business and in which year it experienced the highest proportion of net income and net sales.

To determine

(d)

To state:

If the company is involved in any litigation that materially affects its financial position.

To determine

(e)

To describe:

The line of business that is responsible for the 3% increase of net sales in the United States.

To determine

(f)

To state:

The method of depreciation used by Columbia sportswear and the range of useful lives machinery and equipment.

To determine

(g)

To state:

The auditor of Columbia sportswear.

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