1. Find the Big Rock Brewing financial statements posted on Blackboard for this class. Look through the financial statements.
2. Answer the following questions regarding the financial statements.
a. Where is the head office of the company located, and what is the company’s primary business? You need to read the notes to the financial statements to answer this.
b. What is the accounting period for the corporation (what is its fiscal year end)?
c. What are the four financial statements included in the annual report?
d. What accounting standards were used in the preparation of the financial statements and where did you find this information?
e. What is the name of the accounting firm that wrote the auditor’s report and in what city is the accounting firm located that wrote the auditor’s report? Who was the engagement partner overseeing the audit and the writing of the auditor’s report?
f. Who is responsible for the preparation of the financial statements? What heading is this information found in in the Auditor’s report?
g. Prepare a horizontal analysis for the balance sheet and the income statement comparing the current year with the prior year. What are the significant differences? Does any of the information provided by management explain the differences? Use a spreadsheet to make this easier. Show the dollar difference and the Percent Change for each line item. Note, do not calculate % change for line items where the denominator is 0, or for lines showing a net loss in one year and net profit the next as the % change will not make sense