Capstone: Quality of Earnings
Work through a fictional company's statements and notes to find out how much of its reported profit is backed by cash, likely to repeat, and built on cautious estimates.
What you'll do
You'll examine Calder Tools Inc., a fictional maker of power tools whose net income has almost doubled. Using its income statement, cash flow statement, and the notes, you'll measure how its customers are paying, how much of its profit turned into cash, which items won't repeat, and which estimates changed. Then you'll restate its earnings and write a short assessment. Your score appears as you go, and nothing is recorded outside this browser.
This capstone draws on
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