Needles/Powers 2002e Financial and Managerial Accounting

Needles Accounting Resource Center

Financial & Managerial Accounting , 2002 Edition
Belverd E. Needles, Jr., DePaul University
Marian Powers, Northwestern University
Susan Crosson, Santa Fe Community College


	Internet Research Activities Chapter 1: Uses of Accounting Information and the Financial Statements Need for Knowledge of Accounting Instructions: Use the following business periodicals’ web sites to search for a business article about a company you recognize or are interested in. List all the financial and accounting terms used in the article. A linked web site article is summarized below as an example. Business Periodical Web Sites: CNNfn Forbes U.S. News & World Report BusinessWeek MSNBC Commerce Barron's USA Today Money Fortune Time Financial Times Sample Article: “MicroStrategy shareholders optimistic” (USA Today–Jun 19, 2000) This article describes the first shareholder meeting held by MicroStrategy since its revised revenue figures in March sent its shares tumbling more than 92% in two months. The company recorded substantial revenue from multiyear software contracts in the first year, violating Securities and Exchange Commission rules. Dozens of shareholder suits were filed. Chief Executive Michael Saylor apologized for the mistake some blamed on the independent auditor, PriceWaterhouseCoopers. He spent most of a shareholder meeting detailing new product offerings and assuring investors that the company would grow. Shareholders attending the meeting responded favorably MicroStrategy announced before the meeting that it had raised $125 million from the sale of convertible preferred stock, causing its shares to rise as much as 27%. Extended Research Activities 1. Search USA Today Money for recent articles about MicroStrategy, Inc. Summarize recent financial information disclosed about the company. Describe the financial accounting terms used in a recent article. 2. View MicroStrategy’s Press Release for First Quarter 2001 Earnings How did revenues change from the first quarter 2000? How did operating expenses change from first quarter 2000? How did net income change from the first quarter 2000? Summarize management's explanation of the changes. 3. View current Press Releases from MicroStrategy, Inc. to determine current earnings. How did revenues change from the comparative period shown? How did operating expenses change from the comparative period shown? How did net income change during the comparative period shown? Summarize management's explanation of the changes. 4. Search Quicken.com to view a company profile of MicroStrategy. What does MicroStrategy do? When is the company's fiscal year end? What were net sales for the latest fiscal year? What was net income for the latest fiscal year? Either print out your answers for submission or email them to your instructor.





	ACE Practice Tests

	Chapter Summaries

	Check Figures

	Company Links

	Accounting Transaction Tutor

	Learning Objectives

	Ready Notes

	Business Readings

	Internet Research Activities

	Toys'R'Us Annual Report Activities

	Fingraph Financial Reporting and Analysis Cases Using CPAnalyst(r)



	SMARTHINKING

	Web Links