Limited Brands, Inc.-Prepare a memo: Memo should be at least 5 pages

Limited Brands, Inc.-Prepare a memo: Memo should be at least 5 pages

Question
	Prepare a memo: Memo should be at least 5 pages

Include in the memo the following steps:	
1.	A brief description of the company, including the history of the company. The Subject Organization can be any company, public or private, including not-for-profit organizations.

2.	A clear statement that the potential client should, or should not be accepted. State your conclusions in the first paragraph of the report. Say something such as: “For the reasons given below, I recommend that we accept (or do not accept) ABC Co. as an audit client.”

3.	Give a brief introductory statement describing the company, its history, and its industry. One or two paragraphs should be enough. This introductory statement should be one page long at the most.

4.	The Independent Status of the Board of Directors
a.	List the first five members of the Board of Directors by name. For these five members, list their full-time employer. Look at all the members of the Board of Directors and count how many do not work for the Target Company. State your findings, such as “Twenty-one of the twenty-five members of the Board of Directors would be considered to be Independent Members by the SEC rules.”
5.	State whether or not all the members of the Audit Committee are Independent. Give the name of the Chairperson of the Audit Committee.
6.	If the client is a public client, the date and purpose of the latest Financial Statement 8-K filing should be given. Specify by date filed the most recent Form 8-K filled by the company. State the subject of the 8-K. (This requirement does not apply if your target company is not a public company)
7.	Do not include the financial statements – just the ratios that you think are relevant. Include ratios of a competitor, or of the industry.


In addition: Avoid the temptation to cut-and-paste voluminous introductory material and Supporting Schedules to Income Statements from the 10-K. I prefer basic statements and your own paraphrases of the Introductory comments.


State your conclusion very early in the report, using words such as “For the reasons given below, I recommend that we accept (or do not accept) ABC Co. as an audit client.”

List only the top five officers of the Company and list only the first five members of the Board of Directors. For these five members, list their full-time employer. Look at all the members of the Board of Directors and count how many do not work for the Target Company. State your findings , such as “Fifteen of the twenty-five members of the Board of Directors would be considered to be Independent Members by the SEC rules.”

Specify by date filed the most recent Form 8-K filled by the Company. State the subject of the 8-K.
Be sure to include a comparison of selected (you do the selecting) financial statement ratios of the Target Company to either the Industry Averages or to at least one competitor. This information is available on the Internet. State the importance of each ratio and how your Target Company compares – don’t just give the ratios.