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Homework #1 (due on Wednesday, 2/5/13 during class, hard copies only)


The following questions require you to find information contained in FACEBOOKSs annual reports, also known as the 10-K filings with the SEC. You can find the 10-Ks on the SEC Edgar website: http://www.sec.gov/edgar/searchedgar/companysearch.html Search for FACEBOOK or ticker symbol FB. Filter the filing results by entering 10-K in the Filing Type field. 1. How many 10-K filings does FACEBOOK have? In other words, how many years has FACEBOOK been around as a public company and how many annual reports has it published/filed?

2. What is FACEBOOKs last day of the fiscal year? You can find this on the cover page of each 10-K. Now notice the exact date that FACEBOOKs 10-K was filed. How many days has it taken FACEBOOK to publish its 10-K after the end of its fiscal year?

3. Bring up the entire 10-K for the fiscal-year ending in 2012 (click on documents then fb12312012x10k.htm). Find the Consolidated Balance Sheets, Consolidated Statements of Income, and Consolidated Statement of Cash Flows. Notice the dates and dollar units for all the headings. Answer the follow for fiscal year ending in 2012.

a) What was the amount of Total Assets?

b) What were the largest asset account (not including subtotals) and its amount?

c) What was the amount of Total Liabilities?

d) What was the largest liability account (not including subtotals) and its amount?

e) What was the amount of Total Stockholders Equity?

f) What were the largest equity account (not including subtotals) and its amount?
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g) What was the amount of Total Revenues?

h) What is the percentage of R&D as a percentage of total revenues?

i) What is the amount of Cash flow from operating activities? Indicate whether its an inflow or an outflow.

j) What is the amount of Cash flow from investing activities? Indicate whether its an inflow or an outflow.

k) What is the amount of Cash Flow from financing activities? Indicate whether its an inflow or an outflow.

4. Find Item 7, Managements Discussion and Analysis (MD&A). a) How does FACEBOOK generate substantially all of their revenue?

b) What does the company describe as its research and development expenses?

c) Are any lawsuits pending?

d) If yes, have any of these lawsuits been recognized as liabilities?

5. Find the auditor opinion on Facebooks financial statements. Who is the audit firm? Is the opinion unqualified, qualified or adverse?

6. Bonus question: When did Facebook go public?

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