Managerial Accounting term project

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Business Finance

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The title and table of contents will be given, and the whole project should be around 35-37 pages long, including text and tables. APA form.

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Term Project Comparative Financial Statement Analysis of SeaWorld Entertainment, Inc. and Six Flags, Inc., 2015-2017 Table of Contents I. II. III. IV. V. VI. VII. VIII. IX. X. Introduction a. Objective b. Scope c. Methodology Business history and future( please compare the two company to the industry and then to each other) a. Industry (history) b. SeaWorld, Inc c. Six Flags, Inc Financial analysis a. Ratio analysis explanation 1. Liquidity ratios 2. Activity ratios 3. Solvency ratios 4. Profitability ratios b. Horizontal and vertical analysis 1. Overview 2. Complementary application Liquidity analysis (current ratio, quick ratio)( please compare the two company to the industry and then to each other) a. Industry b. SeaWorld, Inc. c. Six Flags, Inc. Activity analysis( please compare the two company to the industry and then to each other) a. Industry b. SeaWorld, Inc. c. Six Flags, Inc. Solvency analysis( please compare the two company to the industry and then to each other) a. Industry b. SeaWorld, Inc. c. Six Flags, Inc. Profitability analysis( please compare the two company to the industry and then to each other) a. Industry b. SeaWorld, Inc. c. Six Flags, Inc. Horizontal and vertical analysis Comparative analysis a. Credit analysis 1. Short-term (liquidity and activity) 2. Long-term (solvency and profitability) b. Investment attractiveness analysis (profitability) c. Recommendations and current developments Summary and conclusion References/Bibliography XI. Appendices a. Horizontal analysis tables b. Vertical analysis tables
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Attached.

Comparative Financial Statement Analysis of SeaWorld Entertainment, Inc. and Six Flags, Inc.,
2015-2017

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Table of Contents

Introduction ................................................................................................................................. 4
Objective ................................................................................................................................ 4
Scope ...................................................................................................................................... 4
Methodology ........................................................................................................................... 4
Business history and future ......................................................................................................... 5
The Theme Park Industry ....................................................................................................... 5
SeaWorld Entertainment ......................................................................................................... 5
Six Flags, Inc........................................................................................................................... 6
Financial analysis........................................................................................................................ 7
Liquidity ratio ......................................................................................................................... 7
Activity ratios ......................................................................................................................... 8
Solvency ratios .......................................................................................................................10
Profitability ratios ..................................................................................................................11
Horizontal and vertical analysis..................................................................................................13
Overview ...............................................................................................................................13
Complementary application ....................................................................................................13
Horizontal analysis .................................................................................................................13
Liquidity Analysis ......................................................................................................................14
Activity analysis .........................................................................................................................16
Profitability analysis ..................................................................................................................18
Solvency analysis .......................................................................................................................20
Horizontal and Vertical Analysis ................................................................................................21
Vertical Analysis ....................................................................................................................21
Income Statement and Balance Sheet...................................................................................21
Horizontal Analysis ................................................................................................................22
Income Statement and Balance Sheet...................................................................................22
Comparative analysis .................................................................................................................23
Short term Credit Analysis .....................................................................................................23
Long-Term Credit Analysis ....................................................................................................24
Investment attractiveness analysis...........................................................................................25
Recommendations and current developments Summary and conclusion ......................................26
References .................................................................................................................................28
Appendix I: Six Flags Vertical Analysis of Income Statement ......................................................29
Appendix II: Six Flags Vertical Analysis of Balance Sheet ...........................................................30
Appendix III: Six Flags Horizontal Analysis of Income Statement ...............................................31
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Appendix IV: Six Flags Horizontal Analysis of Balance sheet ......................................................32
Appendix V: SeaWorld Entertainment Vertical Analysis of Income Statement ............................33
Appendix VI: SeaWorld Entertainment Vertical Analysis of Balance sheet ..................................34
Appendix VII: SeaWorld Entertainment Horizontal Analysis of Income Statement ......................35
Appendix VIII: SeaWorld Entertainment Horizontal Analysis of Balance sheet ...........................36

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Introduction
Objective
The primary objective of this term paper is to create a profound analysis of the performance of
SeaWorld Entertainment, Inc. and Six Flags, Inc. Also, this research strives to compares the
performance of the two companies in the industry and provide the necessary recommendations for
improvement.
Scope
This research will major on SeaWorld Entertainment, Inc. and Six Flags, Inc. Moreover, the data
analysis of this research will be between 2015 and 2017
Methodology
This study will utilize the financial ration analysis for the comparison of the two companies. Also,
the research will use the vertical and horizontal analysis of the financial statements between 2015
and 2017 for the measurement of performance.

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Business history and future
The Theme Park Industry
Since the 19th century, Americans have flocked the amusements theme parks to color the
family-friendly entertainments. Over the years, the theme parks have been evolving and changing
at a rapid pace following the high demand for fun and entertainment from growing population in
the United States. By the 18th and the 19th century, the theme parks had evolved into the placement
of entertainment for masses where the public could view freaks shows, conjuring, and juggling,
acrobatics and take part in competitions and walk through the menageries. The first permanent
enclosed entertainment area was the Coney Island in 1895: Sea Lion Park, which was regulated by
a single company. This park was designed to provide thrills and entertainment especially about the
growing population of the nearby New York City. In this year, the theme industry is continuously
booming, and more are streamlining in what was long considered as the off-season (Turner, 2008).
According to the IBISWorld Report, the United States amusement park industry is increasingly a
higher following ranging from a small attendance to large theme destination theme parks. While
the industry has been improving annual, the SeaWorld Entertainment and Six Flags
SeaWorld Entertainment
The Sea World Park Entertainment is a theme park and entertainment company that
provides experiences that matter and inspiring to the guest to protect animals and wild wonders of
our world. SeaWorld’s legacy started in 1959, with the opening of its first Busch Garden theme
park (SeaWorld Entertainment, 2018). The first park had several dolphins, sea lions, and seawater
aquariums. Today, the park has 11 theme parks in the United States including Cypress Gardens,
San Ontario, Winter Haven, Boardwalk, Bush Gardens, Williamsburg, and Sesame Place.
SeaWorld has continuously received administration similar to that of Six Flags. With the booming

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performance of the industry, Sea World is expecting to expand into new locations. The future of
SeaWorld Company is unpredictable. Since the “Blackfish Effect’, this recreational company has
experienced a downturn in its operations (Weisberg, 2017).
Six Flags, Inc
Angus Wynne founded six Flags Inc. in 1961. Wynne was a pioneer who studied other
prisoners around him and applied his vision and imagination to create a new efficient form of
entertainment. He imagined regional parks in a broader scope but also aimed closer to where
people lived, for convenience and affordability. Since its foundation, Si ...


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