Custom App Company Evaluation

In: Business and Management

Submitted By tisanagustin08
Words 1056
Pages 5
Dear Mr. Jeff Hasting and Ms. Rachel Becker,
Upon request to analyze CAC’s accounting methods and financial statements to better understand the company and come to an investing decision, my accounting team and I have the following information to report:
CAC’s Current Financial Situation:
Based on the assessment of Custom App Company’s financial statements, we evaluated several of the company’s financial ratios to determine the trend of its profitability, liquidity, and sustainability as well as its investments in the following: (trends are based on CAC’s numbers after adoption of accounting changes; had these changes not been made, these numbers might look very different) * Return on equity generally depicts how much profit a company has generated. Over the past three years, CAC’s return on equity fluctuated from 0.12 to 0.07, denoting that the company experienced a drop in net income. Considerations should be taken that a higher ROE means that the company is efficient at managing its operations through its new investments. * A complete analysis of CAC’s income statement was conducted. In 2011, service revenue was recorded at $136,500 and increased by $73,500 in 2012. One factor that contributed to this increase would be the change of service contracts. Mr. Zamble replaced several multiyear service contracts to 10-month contracts. Multi-year contracts are annual and recorded on a month-to-month basis. This affected 2012 because the service revenue would have been recognized upfront as CAC established the new contracts in May (a month before year-end in June). What would have otherwise been recorded as two-months of service revenue on the annual basis was now recorded in full for the entire period’s services because of this change in contracts. * Another factor that affected the company’s return on equity was the pulling out of dividends, which…...

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