Financial Accounting Case Study: Dillard's Co
Dillard’s Co.
10K Report
1. General Information A. The company’s corporate office is headquartered in Little Rock, Arkansas. I found this information on Dillard’s website in the non-selling location directory.(F-3) B. The fiscal year for Dillard’s ends on the last Saturday of January. This information was found in the 2010 annual report.(F3) C. The types of products and services that it sells are retail clothing and merchandise. I found this information on the company website. D. The next annual stockholder’s meeting is on the 3rd Saturday of May. So may 19th, 2012 at the corporate headquarters in Little Rock, Arkansas. This information was found on allbusiness.com 2. Report of Independent External Auditor A. The corporation’s independent auditor is Price Waterhouse Coopers LLP. They are located in Dallas, Texas.(37) B. The auditor believes that the financial statements were presented fairly as a result of them issuing a report on the effectives of their internal control over financial reporting as of January 29, 2011.(F2) 3. It provides complete balance sheets for two years, cash flow statements for 3 years, and 3 years of income statements. 4. Income statement(23) A. Its revenues over the last year have increased. The percentage increased was .42%. (6120961-609498)/609498X100=.42 B. The company’s revenue recognition policy is the revenue “point of sale”. This information was found in Dillard’s 10k. C. The costs of goods sold have decreased over the last year by -3.10%. (3976063-4102892)/4102892X100=-3.10 Some ways to decrease cost of goods sold are to redesign products and making them simpler so less money is put into the cost of production. An example of this could be using the same material throughout the shirt instead of adding two types of shirt materials together. D. The percentage change in revenue to the change in cost of goods sold is that they are not similar due to the fact that the percent
10K Report
1. General Information A. The company’s corporate office is headquartered in Little Rock, Arkansas. I found this information on Dillard’s website in the non-selling location directory.(F-3) B. The fiscal year for Dillard’s ends on the last Saturday of January. This information was found in the 2010 annual report.(F3) C. The types of products and services that it sells are retail clothing and merchandise. I found this information on the company website. D. The next annual stockholder’s meeting is on the 3rd Saturday of May. So may 19th, 2012 at the corporate headquarters in Little Rock, Arkansas. This information was found on allbusiness.com 2. Report of Independent External Auditor A. The corporation’s independent auditor is Price Waterhouse Coopers LLP. They are located in Dallas, Texas.(37) B. The auditor believes that the financial statements were presented fairly as a result of them issuing a report on the effectives of their internal control over financial reporting as of January 29, 2011.(F2) 3. It provides complete balance sheets for two years, cash flow statements for 3 years, and 3 years of income statements. 4. Income statement(23) A. Its revenues over the last year have increased. The percentage increased was .42%. (6120961-609498)/609498X100=.42 B. The company’s revenue recognition policy is the revenue “point of sale”. This information was found in Dillard’s 10k. C. The costs of goods sold have decreased over the last year by -3.10%. (3976063-4102892)/4102892X100=-3.10 Some ways to decrease cost of goods sold are to redesign products and making them simpler so less money is put into the cost of production. An example of this could be using the same material throughout the shirt instead of adding two types of shirt materials together. D. The percentage change in revenue to the change in cost of goods sold is that they are not similar due to the fact that the percent