Accounting Research

Company Name: CENTURY COMMUNITIES (CCS)

Part A

  1. Century Communities (CCS)

(Note: If it is a public company, all of the financial information can be found in the Investor Relations section of the company website.)

  1. Description of the company’s business and name of closest competitor(s).
  2. Income Statement information from the most recent financial statements including:
    1. Total Revenues amount
    1. Total Expenses amount.  Also name some of the types of expenses shown on the income statement
    2. Total Net Income/Loss amount
  1. Balance Sheet information from the most recent financial statements including:
    1. Total Assets amount
    2. Total Liabilities amount
    3. Total Equity amount
    4. Write out the amounts as the accounting equation to see if assets, liabilities, and equity balance

**Use one of these options to find Century Communities financial statements:
a. Go to the Investor Relations section of the company’s website. Sort by “annual reports,” then find the most recent 10-K, which Is the company’s financial statement filing.
b. Go to SEC.gov. Click on “Company Filings” on the top side of the page. Enter your company’s name and click “Search,” then find the most recent 10-K, which is the company’s annual financial filing.

Part B

  1. Review the income statement and balance sheet again and determine which of the income statement or balance sheet accounts may have been impacted by adjusting entries. For example, if you see an account called “Depreciation – Equipment” on the income statement, list it in your file.
  2. Based on the adjusting entry items you listed in a, describe how you think the adjusting journal entry looked. Using the same example, you could say “Debit Depreciation Expense, Credit Accumulated Depreciation”

Part C

  1. Inventory amount
  2. Cost of Goods Sold/Cost of Sales amount
  3. Look in the notes to the financial statements (the pages of information which come after the financial statements in the 10-K) and copy and paste any footnote or disclosure related to the company inventory method.

Part D

  1. Current Ratio using the balance sheet information; SHOW YOUR WORK
  2. Quick Ratio using the balance sheet information; SHOW YOUR WORK
  3. Compare your company’s current ratio with one of its competitors. For example, if you chose Walmart, compare Walmart’s current ratio with Target’s current ratio.
  4. Describe which company you would feel most comfortable investing in and why
  5. Summarize a current news topic related to this company (e.g. The company has had auditing issues or restatements, the company has liquidity issues, the company has higher/lower than expected earnings, etc.). Site your work.
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