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Essay / Research Paper Abstract
A 6 page paper answering 3 questions comparing Nike and Reebok cash flow statements and profitability measures 2002 – 2004. Overall, it appears that Nike is the better managed company in terms of financial management. Its stronger financial position is not dependent only on its much higher revenues and net income, but also results from management of the assets available to it. An accompanying PowerPoint® presentation is available. Bibliography lists 5 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSacctCFnikeRe.rtf
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Unformatted sample text from the term paper:
The assigned goal is to compare the financial statements of Nike and Reebok for the "three most recent fiscal years." Reebok stock last
traded on January 31, 2006, but as of June 9, 2006, there is no 4Q2005 financial data and no 2005 annual report listed at the Reebok website, which remains after
Reeboks assimilation into Adidas. The "three most recent fiscal years" for which data is available for Reebok are 2002, 2003 and 2004. Nike has completed and filed its
annual report for 2005, of course, but it operates on a different fiscal year than did Reebok. The annual report for the fiscal year ended May 31, 2005 is
referred to here as Nikes 2004 results. The years examined here for Nikes business results are the same as Reeboks, namely 2002, 2003 and 2004. a. Review the statement of
cash flows for both companies for the three most recent fiscal years and identify how much cash was generated or used by operating, financing, and investing activities as well as
some of the significant internal events that affected the companies cash position. Cash effects of operating, financing, and investing activities are listed in
Table 1 below. Both companies Table 1. Comparison of Nikes and Reeboks Cash Flow Activities, 2002 - 2004 (in thousands) Nike Reebok 2004 2003
2002 2004 2003 2002 Net Income $1,211,600 $945,600 $474,000 $192,425 $157,254 $126,458 Operating Activities Changes In Accounts Receivables (93,500) 82,500 (136,300) (31,174) (85,138) (24,982) Changes In Liabilities 112,400 269,100 30,100
(3,821) (30,299) 100,365 Changes In Inventories (103,300) (55,900) (102,800) (24,563) 64,983 (18,579) Total Cash Flow From Operating Activities 1,570,700 1,514,400 917,400 175,662 135,441 224,095 Investing Activities Capital Expenditures (257,100) (213,900)
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