Understanding Real World Financial Analysis Reports
“Use the Topps Company s annual report in Appendix B to answer the following questions.
a. What was Topps inventory turnover ratio and average days to sell inventory for 2006 and 2005?
b. Is the company s management of inventory getting better or worse?
c. What cost flow method(s) did Topps use to account for inventory?”
Edmonds, Thomas. Survey of Accounting, 2nd Edition, 2nd Edition. McGraw-Hill Primis Custom Publishing.
Introduction and development of paper including conclusion APA Style
Required
Adequate supporting documentation. References cited throughout body of paper. Appropriate research. At least one references other than text and lecture material. (minimum 2 references)
Adherence to AU standards for written work:
APA format, written in third person
Major points are organized in a logical fashion. Each paragraph is clear and contains one major idea.
Rules of grammar and punctuation are followed.
No spelling errors
Conduct a grammar check. Conduct a plagiarism check please
Appendix B: Annual Report for the Topps Company, Inc. In fiscal 2006, the Company’s consolidated net sales decreased 0.1% to $293.8 million from $294.2 million in fiscal 2005. Weaker foreign currencies versus the prior year reduced fiscal 2006 sales by approximately $600,000. Excluding the impact of stronger foreign currencies, net sales increased by 0.1%. Worldwide net sales of the Confectionery segment, which includes Ring Pop, Push Pop, Baby Bottle Pop, Juicy Drop Pop and Bazooka brand bubble gum, increased 0.3% to $144.3 million in 2006 from $143.8 million in 2005. Foreign exchange had virtually no impact on full year confectionery sales comparisons. Confectionery products accounted for 49% of the Company’s net sales in each of 2006 and 2005. In the U.S., fiscal 2006 confectionery sales reflected distribution gains and strong retail sales of Juicy Drop Pop, now in its third year. In addition, sales of Baby Bottle Pop increased, driven by a successful new media campaign and initial shipments of 2DMax, a new line extension, which will be officially launched in fiscal 2007. Confectionery sales in overseas markets were influenced by the introduction of Mega Mouth Candy Spray and continued growth of Pokemon candy products, offset by lower year-on-year performance of core brands in select markets, principally the U.K. and Italy. International sales represented 28% of total confectionery sales in fiscal 2006 versus 31% in 2005. * Unless otherwise indicated, all date references to 2006, 2005 and 2004 refer to the fiscal years ended February 25, 2006, February 26, 2005 and February 28, 2004, respectively (Edmonds 621) MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This section provides an analysis of the Company’s operating results, cash flow, critical accounting policies, and other matters. It includes or incorporates “forward-looking statements” as that term is defined by the U.S. federal securities laws. In particular,…
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