Annual Report Accounting 100 Essay

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Annual Report Project: Kohl’s Fiscal Year 2011
Diane M. Chapman
ACC100 Accounting 1, Professor Ekaterina Kouprianova
June 1, 2013

1) Identify and explain the main sections of the annual report.
The Kohl’s Corporations annual statement for fiscal year 2011 is broken down into several parts. Part one explains the business as a whole and includes information such as the origins of the company, the type of merchandise sold, overviews of its business strategies, store locations and sizes, supporting properties owned by the company, the makeup of the company’s workforce, and risk factors that may affect the business in the future. This section gives the reader a sense of the current status of the company as well as what to expect in the future. Part two of the report identifies consolidated financial data that includes company stock information and the payment of dividends. The value of the business and the possibility of return on investments can be derived from the information in this section. This section also includes historic financial information. Part three includes a detailed look at the corporate leadership of the company. Executive officers and their history with the company as well as the compensation that those executives receive are listed in this section. Part four lists financial statement schedules which are. The financial statements provided in the index break down dollar for dollar the companies costs and income. 2) Discuss the key factors that influenced the company’s financial performance during the year.
Kohl’s Corporation grossed $1.79 billion in fiscal year 2011. (Market Watch, 2013) The company’s financial performance during this time frame was based on several different market strategies. The addition of 38 stores in 2011 brought the total number of stores up to 1,127. In addition, Kohl’s has operated online since 2001. The company follows a low cost structure achieved through specialized store formats, lean staffing levels, and managerial information systems and efficiencies generated from centralized advertising, buying, and distribution policies. (Kohl’s Corporation, 2012) In addition to its cost structure, Kohl’s introduced several new brands during the fiscal year. Jennifer Lopez, Marc Anthony, Rock & Republic, Van Huesen, and Princess Vera Wang were all launched during the fiscal year. Combined with other exclusive brands, these newly launched brands drove 50.3% of total sales. (Kohl’s Corporation, 2012) Kohl’s also puts great emphasis on the ease of shopping. Stores are located close to residential areas, have adequate parking, knowledgeable associates, wide isles, and fast checkouts. Staffing levels vary through the year with part-time employees making up roughly two-thirds of its total employees. No employees are represented by a collective bargaining unit. (Kohl’s Corporation, 2012)
3) Discuss the primary assets held by the company.
Kohl’s operates with 1,127 stores in 49
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