Management’s Discussion and Analysis Project on Company (Apple)

 You will need to prepare a presentation of key drivers of management reporting, including an analysis of revenue, gross margin, and operating expenses. The discussion will be presented in class using Microsoft PowerPoint.  You must state specifically what Company you choose to present and what are the key financial drivers for that Company’s performance.  You will develop a presentation summary of using the questions below.  You will need to give the instructor an electronic copy of the PowerPoint presentation prior to your assigned presentation time.  The presentation is limited to 15-20 minutes total divided between the presentation 12-15 minutes and questions and answers for 3-5 minutes.  

Be creative but make sure your presentation is clear.

⦁ Pick a public company that you are interested in or one that has been in the news lately. You may choose a company where you have worked or would like to work for but the information shared must be publicly available.

⦁ Read the company's latest earnings announcement press release and the latest 10-Q or 10-K. Go to www.sec.gov -> search company filings. Read the Company’s Management Discussion and Analysis section in the annual report on form 10-K.

⦁ Provide a summary of the Company's GAAP to Non-GAAP Reconciliation from the press release if available. This will most likely be available in the investor relations section of their corporate website. 

⦁ Discuss the following in your presentation: 

⦁ Sales Discussion – Did sales grow for the quarter? What is the sales trend?

⦁ Gross Margin – What was the Company’s gross margin? Is it growing? How does the Company’s Gross Margin compare to other Companies in the same industry?

⦁ Operating Margin - Is the company making money on a GAAP basis? On a Non-GAAP Basis? How does the company make money? 

⦁ Cash Flow and Liquidity discussion - Is the Company generating cash flow? 

⦁ How does the company explain the cost of the products? 

⦁ What are some risks the company outlines in the 10-K? 

⦁ What recommendations would you make to the company to increase profit or cash flow. 

⦁ Provide a discussion on ethical considerations such as environmental policy, corporate citizenship and other ways the Company can better align its mission to the Company values. What metrics and KPI’s does the company you selected use to communicate these policies to investors?