Accounting

1. Using your annual report or 10K, find the following information

Page Number

Five-year Selected Financial Data............................21-22

Management Discussion and Analysis.....................23

Independent Auditor's Report.................................22

Name of Auditing Firm...........................................21

Statement of Operations (AKA Income Statement).....48

Balance Sheet.......................................................47

Statement of Cash Flows........................................50

Statement of Shareholders' Equity...........................49

Notes to Financial Statements.................................51-80

Directors and Officers Information...........................81-82

2. Get your company's Standard Industry Code (SIC). Go to the SEC's homepage (there is a link on the class website) www.sec.gov Then click on Search for Company Filings, then click on Search Companies and Filings. Enter your company's name and click Find Companies. The company's SIC code will appear.

The SIC number for my company is 2320.

3. Give a generalized description of what kind of information an investor might find in the Notes to Financial Statements.

The notes an investor might find in the Notes to Financial Statements are very helpful in identifying all aspects of the companies business. The notes explain when each of the past three years has ended for Quiksilver, INC. You will also find all the assets, liabilities, and inventories. The statements that are also shown in here are the Income Statement, Cash Flow Statement, and the Balance Sheet.

4. What is the largest asset on the Balance Sheet? Why do you think it is the largest? Does your firm have any Accounts Receivable? How much?

The largest asset on the balance sheet is the Trade Accounts Receivable. I think that this is the largest because this company has about 12 little brother companies that branch out over the world. Their biggest seller is to the over seas countries. The accounts receivable are the trade accounts and then other receivables which is not listed in the balance sheet. There is a total of $626,900.

5. What is the largest liability on the Balance Sheet? Why do you think it is the largest?

The largest liability on the balance sheet is Accounts Payable. I think this is the largest because there is more credit sales than there is cash sales. The money has not been paid yet.

6. SUMMARIZE the information regarding the Long Term debt.

Long term debt for Quiksilver, INC. is mainly from over seas. Asia/ Pacific has short-term lines of credit and long-term debt which equal to $31,656. European short-term credit arrangements equal $167,677. Americas short-term lines of credit, credit facility, and long-term debt equal to $239,436. There is also the senior notes, deferred purchase price obligation, and capital lease obligations and other borrowings which equal to $451,745.

In July of 2005, Quiksilver issued $400 million in senior which have an interest rate of 6.875% and they have to be paid by April 15, 2015. In April of 2005 the company took the line of credit in the Americas with a revolving credit facility which gives them a higher line of credit. The credit reaches up to $250 million. There are also loans in the Americas that amount to $9.4 million and debt in Europe up to $158.0 million.

7. For what period of time does your Income Statement Relate?

The period of time that the income statement relates is when the year ended for them on October 31. It goes back three years. The three years are 2003, 2004, 2005.

8. Does your firm have any non recurring items? What are they - discuss

My company has no non recurring items.

9. What is the date of your Balance Sheet?

The date on my balance sheet is October 31, 2005 and 2004.

10. What depreciation method is used?

The depreciation method that is used is amortization and is computed by either EBITDA or GAAP.

11. Does your company have any intangible assets? How important are they to the company - discuss

My company has a large amount of intangible assets. The assets equal to $247,702. They are very important because of acquired assets the company has. Some of the assets are winter sports and golf equipment manufacturers and ski resorts and country clubs. These are very important because they bring in more revenue other than their clothing and apparel lines.

12. List the various inventories for your firm. What cost flow inventory method is used? Over time are inventories increasing or decreasing?

The inventories for my company are first in-first out. The various inventories are T-shirts, accessories, jackets, sweaters, technical outwear, footwear, winter sports equipment, pants, shirts, swimwear (excluding boardshorts) fleece, shorts, boardshorts, tops and dresses, and golf clubs. The cash flow method is first in-first out. The inventories are increasing each year.

13. Does your firm have any segments? If so, which provides the most income - discuss

My firm has operating segments. The segment that provides the most income is the T-shirts due the high demand of skating apparel, and summer fashion. T-shirts are the top selling item for Quiksilver, INC.

14. Did your firm issue any stock during the year? How much (in total) have stockholders invested directly in the company? Have all possible shares been issued?

My firm did issue stocks this past year.

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