A Brief Note On Financial Reporting

Words: 840
Pages: 4
Open Document
Financial Reporting – Apple, Inc.

ACC/290

Apple Inc. is a manufacturer and developer of consumer electronics, computers, and software. The company is headquartered in Cupertino, California and was, until recent, headed by founder and CEO, Steve Jobs. Apple is a well-recognized company that provides an alternative to the traditional personal computer, and personal devices.
Assets and Liabilities of Apple The four different types of assets are Current Assets, Long-Term Assets, PPE (Property, Plant & Equipment), and Intangible Assets. Team B’s task was to define current assets. A current asset is an asset which can either be converted to cash or used to pay current liabilities within one year. Typical current assets include …show more content…
Employees can use the information to determine whether the company has a secure future and can provide the compensation and benefits they need. Creditors can use the information to determine a company’s ability to repay loans. Investors can use the information to predict a company’s future income and decide whether the company is safe to invest in.
Analyzing the assets of a company can show a company’s strength or reveal its weakness. The same information can be found by analyzing a company’s liabilities. A company with few or low assets and high liabilities could indicate a company is in trouble. Conversely, a company with large or many assets and low liabilities indicates a strong company that is prospering and has the ability to grow. Other information can be found by analyzing a company’s cash and cash equivalents. A company with high levels of cash might indicate a company that is not investing and making proper use of its assets. However, a company with a healthy amount of cash and several long-term and short-term investments shows a company that is focused on its future. Analyzing the information found in financial statements can be useful to all users whether internal or external (Kimmel, Weygandt,& Kieso, 2010).
Conclusion
The balance sheet contains information that internal and external users can reference when making decisions with regard to the company it is for. Apple was compliant with the information it submitted, and the
Show More

Related Documents: A Brief Note On Financial Reporting

Financial Statements Essays

Financial Statements Paper ACC/290 There are four types of financial statement reports that are used in every business to help keep track of the financial health of businesses; they are the billing sheet, income statement, retained earnings statement, and the statement of cash flows. Each of the four statements has their own use but rely on the others for information making them all connected in some way shape or form. The balance sheet is one of the four financial statements that are…

Words 755 - Pages 4

Essay about The Sarbanes-Oxley Act: Regulating Financial Practices of Businesses in the U.S.

Sarbanes-Oxley Act Paper Johnny Leng ACC/290 August 18, 2014 James Gardner Sarbanes-Oxley Act Paper The Sarbanes-Oxley (SOX) Act was enacted by legislation in 2002 to regulate the financial practice of businesses within the United States. During the time that it was passed, many large corporations were being scrutinized for their business practices and accounting scandals. Most notably, these corporations include Enron, Tyco International, and WorldCom among others. The scandals cost investors billions…

Words 416 - Pages 2

Financial Statements Essay

Financial Statements ACC/290 June 18, 2012 One would think that acquiring a job that involves numbers would come easy and everyone would enjoy their job. When it comes to accounting to where it will show how accountants really get into numbers and how it all gets put on paper is amazing in its self. There is so much work involved in preparation for financial statements. In this paper it will describe the four basic financial statements and the purpose of each of the four financial statements…

Words 750 - Pages 3

Compare IFRS And GAAP Essay

Risley ACC 290 Oct 27, 2014 Jammie Janis Ifrs Versus Gaap International Financial Reporting Standards vs. Generally Accepted Accounting Principals Over the last decade, the world has become increasingly connected. Businesses are embracing opportunities abroad and gathering investors from a progressively growing international market. Globalization has given rise to a number of questions regarding multicultural business practice. It has also created a need for universal financial reporting that is…

Words 1158 - Pages 5

Wk 1 Financial Statement Paper

Financial Statement Paper Alison Green ACC/290 February 27, 2013 Ilaine Newby Financial Statements Financial statements are used to determine the financial welfare and prospective earnings of an organization. These statements are often used by accountants, business owners, investors, and employees. In this paper, one will discuss the four basic financial statements: balance sheet, income statement, statement of retained earnings, and statement of cash flow. One will also describe the purpose of…

Words 874 - Pages 4

Essay on Financial Plan

* Submitted: 1 Financial Statements paper By Randy Fitzhugh Similarity Index 12% What's this? Similarity by Source Internet Sources: 12% Publications: 0% Student Papers: N/A include quoted include bibliography exclude small matches download refresh print mode: 3% match (Internet from 7/25/10) http://www.scribd.com 3% match (Internet from 2/5/09) http://econ.ucsb.edu 2% match (Internet from 11/22/11) http://www.brainmass.com 1% match (Internet from 8/27/10) http://www.scribd…

Words 911 - Pages 4

TireeCherise ACC290 IFRS v GAAP Essay

Tiree-Cherise Ealey ACC 290 April 6th 2015 Gary Foote Accounting is an important feature in every business worldwide. Essentially, it is necessary in order to keep track of the economic events that occur within a business. These records are used within a company, however they are also used for other purposes, one of them being to report their financial activities. For this to be effective, there must be standards that businesses to adhere to in order to make financial reporting uniform across the…

Words 1548 - Pages 7

Essay Financial Report

General Motors: Annual Report Analysis Edwin Bivens ACC/290 04/06/2014 General Motors Financial Report I have decided to do my Financial Report Analysis on General Motors also known as G.M. I have a lengthy history with General Motors, being that I was a part manufacture in the Flint, Michigan plant. Although I have a lot of experience and familiarity with GM I have never known anything about the Financial Report. General Motors (GM) records their assets in their yearly statement which is…

Words 1376 - Pages 6

Costco: A Wholesale Bull Essay

Costco: A Wholesale Bull Team D ACC/290 1/16/2014 Costco: A Wholesale Bull Winding through the aisles of Costco, midday on a Saturday lunch hour, snatching up free samples of packaged meals, meats, and other items on display, is a common trend for most bulk shoppers. Those who have ever frequented the mass gathering of this growing bulk product sales giant understand that Costco is different than other bulk product companies. It has a growth unchallenged by others in the wholesale bulk product…

Words 1081 - Pages 5