ACC 700 help A Guide to career/Snaptutorial ACC 700 help A Guide to career/Snaptutorial | Page 2

from your instructor for the final submission. You should note that the
submission guidelines for this milestone are less demanding than
those for the final
submission. Once you have submitted this milestone and received
feedback from your instructor, it is up to you to incorporate this
feedback and complete the
artifact by meeting the submission guidelines found in the Final
Project Guidelines and Rubric document.
Client One – Chester, Inc. (Financial Statements and Analysis)
Chester, Inc. is a large, publicly traded client at S.N.H.U., LLC. Your
task is to develop a comprehensive, professional report for the board
of directors. To do this,
you will use Chester, Inc.’s trial balance to compose comparative
financial statements, analyze data, and interpret results. These
financial statements must be in
good form in accordance with Generally Accepted Accounting
Principles (GAAP). Next, you will assess the performance of Chester,
Inc. using the financial
statements that you created, along with industry performance data and
the financial statements of a competitor. In addition, Chester, Inc. is
considering
expanding into the global market. They would like you to highlight
key areas of the financial statements you have prepared and identify
how they would be
reported differently if composed under International Financial
Reporting Standards (IFRS) rather than GAAP.
Background and Financial Information
Chester, Inc. is a large, publicly traded client operating in athletic
wear including clothing, shoes, and accessories. Direct competitors
include Columbia
Sportswear Company (COLM – NYSE) and Under Armour, Inc. (UA
– NYSE). All of these companies operate in the textile-apparel
clothing industry. Chester Inc.
operates on a calendar year.
Reference the Milestone One Chester Inc. Trial Balance spreadsheet
for the past three years’ financials (2013, 2014, and 2015).
Additional information: