I need someone who knows finance for help with a graduate class.

need a person with knowledge in Earnings forecast and cash conversion cycle from a company.
All public companies provide a forecast for at least the next quarter.Professional analysts spend significant time preparing their own pro-forma forecasts and estimating the EPS for the company.Multiple analysts’ results are then combined to arrive at an “average” that becomes the “analysts’ expectations”.Company’s try very hard to meet the analysts estimate – beating the estimate can make the stock increase in price, but not meeting the expectations by even a few cents may cause the stock price to drop significantly.Remember that its an average – some had it higher, others lower.
Using your company from Week 1 (or choose another)
1. Create a table with the analysts’ expectations from the previous quarter (or period) and the actual results (requires external research).
2. How did they perform? why did they do better or worse than expected? How did this impact their stock price?
3. Add to your table the expected results for the next quarter (or period). Is the forecast aggressive? Where are they making the biggest changes?
1. Using the ratios in the table below, calculate the cash conversion cycle for your company for the past two years
2. How well does your company manage their cash conversion cycle?
Response 1:
Company is 3M
Company is ADP
Bank of America
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1. Provide a summary overview of your company – industry, products, markets, etc. How would you rate your company’s performance recently? Is there any recent financial news (acquisitions, share buybacks)?
I selected Bank of America (BofA) because it is where I currently work. BofA is one of the leading financial institutions in the world and serves individuals, small and medium enterprises, governments, and large corporations offering a wide range of financial services (SEC.GOV, 2022). According to the J.D. Power, BofA is the first financial institution to be certified for financial health support. There is a consistent increase in the company’s profitability, and I would say the company is in good financial health.
Bank of America announced on April 2, 2021, that it had acquired Axia Technologies, Inc. (AxiaMed), which is an industry-leading health care payment and technology company that focuses on facilitating secure patient payments. The most recent financial news about the bank is that yesterday, the Consumer Financial Protection Bureau (CFPB) ordered BofA to pay $10 million as penalty for illegally garnishing the accounts of its customers.
2. What are the dollar amounts of your company’s assets, liabilities, and equity for the last two years? Where has the growth/decline in changes in the balances occurred? You can add a table to your DQ.
The following table summarized the assets, liabilities, and equity for BofA in the last 2 years.

















From the table above, assets and liabilities increased from 2020 to 2021 by 12.41% and 13.85% respectively. However, the company’s total shareholder’s equity decreased by 1.05%.
3. From the Statement of Cash Flows, did they have a positive or negative cash flow? How did they use their cash in Operating, investing, and financing activities? You can add a table to your DQ.
Cash and cash equivalents dropped from $380,463 in 2020 to $348,221 in 2021. Although the cash flows are positive, they declined slightly in the most recent year. The cash flow was used in different operating activities such as adjustments to reconcile net income to net cash provided by operating activities and loans held-for-sale. In investing activities, the cash flows were distributed in debt securities carried at fair value, loans and leases and debt securities held to maturity. The table below summarizes how BofA uses its cash flows.
Statement of Cash Flows




Investing activities



Operating activities



Financing activities


4. Who is the CFO of your company? What are their background and compensation?
The bank’s Chief Financial Officer is Alastair Borthwick. Borthwick obtained his bachelor’s degree in economics and statistics from the University of St. Andrews in Scotland and holds a masters’ degree in business administration from the Amos Tuck School at Dartmouth College (BAC, 2022). He has been with the bank since 2005 serving under different positions. According to Morningstar, his compensation is total compensation is $10,955,546 (Morningstar, 2022).
BAC. (2022).Alastair Borthwick, chief financial officer. bankofamerica.com.
Morningstar. (2022).Bank of America Corp (BAC) executive – XNYS| Morningstar. Morningstar | Empowering Investor Success.
SEC.GOV (2022). Bank of America Corporation 10-K Form.
BAC. (2022).Bank of America acquires Axia technologies, Inc.Bank of America.
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1st response:
I enjoyed reading you discussion about Bank of America, and I think it’s pretty cool that you work there and chose to focus on BofA throughout the semester. I was alarmed by the recent news that occurred a few days ago about BofA having to pay $10 million due to illegally garnishing customer accounts. I am currently looking to switch banks, and this is definitely makes me shy away from BofA.
One of the first things I noticed regarding the financial statements was that assets and liabilities changed from 2020 to 2021 by essentially the same amount. In fact, liabilities increased by slightly more. These numbers prove the point that it is important to look at the big picture when analyzing financial statements. If one simply saw that assets increase by 12%, they would assume the firm was doing very well financially. However, when viewed on a broader scope, one can see that liabilities increased by more. Therefore, this creates an entirely different view of the firm’s current financial state.
I also find it very interesting that the CFO’s annual compensation is near $11 million. I guess this would be pretty typical for the position, but the CFO of the company I am analyzing (ADP) only gets paid $650,000 in comparison.
Great post!
2nd response
Hi, glad to see someone else also had an interest in Bank of America and I think it makes it even better that you are currently working there! One piece of information that I learned from your post was that Bank of America had to pay $10 million for illegally garnishing customer accounts. I was not aware of this situation prior to the assignment but it definitely does not seem like something that should be taken lightly. Personally, I am curious to know what you feel about the research you have conducted and all that you have learned because I would like to think that this assignment must have been exciting given your current role at the company. Other that, everything else in your response is about what I expected. Bank of America is a great company and has so much to offer, I definitely see a continuation in success for them!
3rd response:
Iam glad I was not the only person who chose the company they work for! It certainly makes for interesting research and also sets you up better to understand the bigger picture for the business.
As a customer, I personally am not a fan of BofA as I always felt that they charged me all sorts of fee’s to just bank with them, however that’s not to say that they aren’t a great company for larger organizations to partner with. In fact, after reading your post its clear that this is the bigger picture strategy. I find it interesting that they are have acquired Axia Technologies in hopes of growing their merchant services vertical. This is really a service that could help them grow across a multitude of industries looking to make online payments easier for their customers. In terms of impact to the financials, I do wonder how such services impact cash flows of BofA since it seems that it would have a relatively low operating expense once the systems are established and running.
Looking forward to learning more about BofA from you over the next few months!
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