...Reporting on: APPLE, Inc. Fiscal Year 2011 Presented by: Bo Weichel Professor: Ekaterina Kouprianova Course: ACC 206 Accounting II Date: 11/20/11 Page | 1 CORPORATE GOVERNANCE Apple, Inc. is a highly successful global company offering leading technology in personal computers, phones, music players, and tablet computers. Its success doesn’t come entirely from producing consistently innovative and quality products. It reaches down into the depths of the company itself, its organizational governa nce and control. This foundation is what keeps Apple on the leading edge of the market. Apple has a Board of Directors which contains seven members, including CEO Tim Cook. The role of the Board is to “oversee the Chief Executive Officer and other senior management in the competent and ethical operation of the Corporation on a day-to-day basis and assures that the long term interests of the shareholders are being served ” (Apple 2010, p.1). Serving on the Board set s limitations on its directors; they are advised not to serve on more than four boards of other companies (Apple 2010, p.1). Directors serve for a one year term, without limitations on the number of terms served ; however they may not continue re-election after age 75. Again highlighting the Corporations excellent internal governance, it states “The Board believes the Corporation benefits from the contributions of directors who have developed, over time, increasing insight into the Corporation” (Apple 2010, p.2). This shows...
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...THE CORPORATE ANNUAL REPORT: A BUSINESS APPLICATION 2cd edition Complete the following before you submit your assignment. This step is required to validate your compliance with sections 107 or 108 of the 1976 United States Copyright Act. 1. Remove the front cover of the workbook and identify: * Name: Oskar Diaz de Leon _. * Term: Spring1 2010 . * Company: Apple Computer Inc (AAPL) _ . * Instructor: Natasha Bell-Scott _ . 2. Print out your completed electronic template. 3. Attach the following: * This front cover (completed) * Electronic solution template * Company annual report Chapter 1 - Introduction * Chapter 1: Select a Company and Gather Documents—Question 1Fill in the page numbers on the annual report where the following are located. | Required information for this workbook project. | Page No. | Required information for this workbook project. | Page No. | Financial Highlights (Not absolutely necessary, but very common in annual reports.) | 36 | Statement of Cash Flows | 59 | Chairman’s Message (President’s, CEO’s or other top official’s message or letter to the shareholders) | 36 | Notes to Financial Statements | 60 | Management’s Discussion and Analysis (MD&A) | 36 | Report of Independent...
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...the world, but Apple Inc. has definitely established themselves as the current leading publicly traded company brands in the world (Forbes.com, 2013). As of September 28th, 2013, Apple Inc. has reported $207,000,000 in total assets. This number is important because it displays how much the business owns and what it is currently worth. When comparing the total assets to the end of the previous annual reporting period of September 29th, 2012, Apple Inc. had reported $176,064,000. That was an increase of $30,936,000. The total amount of cash and cash equivalents that Apple Inc. had at the end of its most recent annual reporting period of September 28th, 2013 was $14,259,000. The total amount of accounts payable that Apple Inc. had at the end of its most recent annual reporting period of September 28th, 2013 was $22,367,000. The total amount of accounts payable that Apple Inc. had at the end of the previous annual reporting of September 29th, 2012 was $21,175,000. That was an increase of $1,192,000. Apple Inc.’s net revenues for the last three annual reporting periods were significantly different. On the most recent reporting period of September 28th, 2013, Apple Inc.’s net revenue was $170,910,000. The annual reporting period before September 28th, 2013, on September 29th, 2012, the net revenue was $156,508,000. The annual reporting period before September 29th, 2012, on September 24th, 2011, the net revenue was $108,249,000. The change in dollars in Apple Inc.’s net income...
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...Introduction: Financial Statement Analysis is used by interested parties such as inventors, creditors, and management to evaluate the past, current and projected condition and performance of the firm. Its analysis helps user make better desiccations. Ration analysis is the most common form of financial analysis. It provides relative measures of the firm’s conditions and performance. Horizontal analysis and Vertical analysis are also popular forms. Horizontal analysis is used to evaluate the trend in the accounts over the years, while vertical analysis, also called a common size Financial Statement discloses the internal structure of the firm. It indicates the existing relationship between sales and each income statement account. It shows the mix of assets debt that produces income and the mix of the sources of capital, where by current or long-term debt of by equity funding. Financial Statement Analysis prepared for the internal auditors, Many different financial measures are used to analyze financial statements and rank the performance of competing investment opportunities, including growth in sales, return to stockholders, profit margin, and return on equity. These are just four possible measures considered and evaluated by investors and creditors. Financial statements presented in various formats to help facilitate analysis. A classified set of financial statements groups items with similar characteristics together. Groupings include categories such as current assets; property...
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...2011 Annual Report Notice of Annual Meeting and Proxy Statement We bring easy to your office. Staples is the world’s largest office products company and y a trusted source for office solutions. The company proy Revenue Mix2 2008 2007 2009 North American Delivery North American Retail vides products, services and expertise in office supplies, copy & print, technology, facilities and breakroom, and furniture. Staples invented the office superstore concept in 1986 and has annua sales Revenues ($B)1 2007 2008 2009 2010 2011 2010 2011 Diluted Earnings Per Share 3 in the world in eCommerce sales. With 88,000 associates worldwide, Staples operates in 26 countries throughout North and South America, Europe, Asia and Australia, making it easy for businesses y r of all sizes and consumers. f The company is headquartered outside Boston. More information about Staples (Nasdaq: SPLS) is available at www.staples.com/media. Cash Flow Generation ($M) of $25 billion, ranking second f Operating Cash Flow 2007 As Adjusted 2007 2008 2009 2010 2011 2008 2009 2010 2011 Free Cash Flow Capita Expenditures 2007 2008 2009 2010 2011 Stores Open at Fiscal Year End 2007 Dividends Per Share 2008 2009 2010 2011 1 2 2008 revenues include $4.2 billion of revenues from Corporate Express for the period July 2008–January 2009. f 2008 revenue mix includes $2.3 billion of North American Delivery...
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...and GUESS have created such programs and with the comparison of before and after financial reports it boosts net sales by more than 30%. INTRODUCTION Express Next is a point-dollar reward system that affiliates each dollar spent with 10 points. The more points a customer accumulates the better a reward they will receive. There will be a two tiers of loyalty. A Base tier, the beginning tier, that rewards a customer with 10 points with every dollar spent. And a A-List tier, the advance tier that is gained when a customer reaches a certain amount of loyalty, that rewards customers with 15 points with every dollar spent. There will be a two quarter beta program to be held at various locations that have the top volume in the company and will be launched in the beginning of the upcoming fiscal year. This loyalty program will increase sales up to 30% percent and start a clientele-esque program. LIST OF SOURCES Berman, B. (2006). Developing an Effective Customer Loyalty Program . California management review , 49(1), 123. Demonstrate how to create an effective program that will increase net sales Chen, M. (2005). Mining changes in customer behavior in retail marketing . Expert systems with applications , 28(4), 773. doi:10.1016/j.eswa.2004.12.033 Show that the proper marketing and phasing of the program will benefit the companies finance Clifton, D. E. (2005). AECO Annual Report. AECO Investor Information. Retrieved March 17, 2012, from http://phx.corporate-ir.net/phoenix...
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...htm An investigation of perceptions of company annual report users in Sri Lanka Anura De Zoysa and Kathy Rudkin School of Accounting and Finance, University of Wollongong, Wollongong, Australia Abstract Purpose – The purpose of this paper is to report on a study of how users of company annual reports in the emerging market of Sri Lanka view those reports. Since limited studies exist that examine financial reporting practices in emerging markets, little is known about the user perceptions of company annual reports in these markets. This paper contributes to filling this gap by examining the views of a wide spectrum of users on the usefulness of corporate annual reports in Sri Lanka. Design/methodology/approach – The data reported in this study were collected through a questionnaire survey, covering seven user groups – accountants, executives, bankers, tax officers, academics, financial analysts, and investors. The 264 responses received were analysed using the Kruskal-Wallis one-way ANOVA test. Findings – The results reveal that most use annual reports for obtaining information for share transactions. Despite the long delay in publishing many annual reports and lack of availability of these reports to the general public, the majority of users view annual reports as the most important source of company information. The paper also reveals that, in comparison with developed markets, Sri Lankan users depend more on annual report information than on information provided by stockbrokers...
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...Annual Report Analysis SK Md Saif Ali (Neil) 500335019 CMN 413 Analysis of Annual Report: McDonalds Here is an annual report analysis of McDonalds based on recurring themes, corporate image, Branding, Readability, design, interest, factual comprehensiveness, consistency and transparency. Recurring Themes: Health concern is the biggest issue to general people when it comes down to fast food. Despite of their great they are incapable to promote good health. In 2012 Annual report, McDonalds claimed to overcome these issues by providing food with quality and taste. By adding real fruits, vegetables, salad to its menu, it has taken the food quality to a new level. Moreover, McDonalds has also become more eco-friendly. By successfully diminishing the usage of carbon footprint and energy, McDonalds proved that point to some extent. This organization has a family crisis fund to help families during depraved times. Corporate Image: approximately 69 million people around the world is served food by McDonalds. McDonalds has differed itself from other companies by seeking competitive advantage. They try to gain that by adding healthy food to their menu and by renovating the business. On page 5 of annual report, It is stated that how standing out for employees and looking out for its own people have earned McDonald’s a competitive advantage on others. The reason behind using such statement served multiple purposes. First of all its shows why one should work in McDonalds and...
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...___ Being a paper presented at ANAN Practitioners’ Forum at Mainland Hotel, Lagos on 3rd August, 2010 ____________________________________________________________________ Abstract Good corporate reporting is generally an indication of competitiveness and superior corporate governance. Good reports show initiative and effort on the part of the preparers. Significant changes in the corporate external reporting environment have led to proposals for fundamental changes in corporate reporting practices. A variety of new information types are been demanded, in particular forward-looking, non-financial and soft information. Openness and transparency in annual reporting on an unprecedented scale may be inevitable with the adoption of International Financial Reporting Standards (IFRS) and Nigeria’s commitment to adopt IFRS; Nigerian companies will have no alternative but to bring themselves up to speed. One way is to ensure that company’s reports actually reflect good governance. INTRODUCTION Good corporate reporting is generally an indication of competitiveness and superior corporate governance. Good reports show initiative and effort on the part of the preparers. “The better reports always address all the required relevant information concisely, and disclose thoroughly the measures taken – including on activities, corporate policy, strategic plans, the company’s prospects and current initiatives to protect the environment,” (Pushpanathan, 2010:15). In recent times the demand...
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...Fertilizer Bin Qasim Limited Financial Analysis Report Period coverage: 1st January 2012 to 31st December 2012 Prepared and Presented by: Dr. Babur Zahiruddin Raza, Corporate Office Consultant in Human Resources & Master Trainer in H.R Applications Research Consultant Mr. J. S Khan IT Consultant Mr. Raheel Rustam Ph: 051-5584905, 5792836 Cell: 0332 – 4923235 Email: baburzahiruddin@yahoo.com, TABLE OF CONTENTS SR no | Description | Page no | 1 | Financial analysis approach ----------------------------------------------- | 3 | 2 | Analytical review --------------------------------------------------------- | 4 | 3 | Key discussion points for AGM ---------------------------------------- | 8 | | | | | | | | | | | | | | | | 1. FINANCIAL ANALYSIS APPROACH I have adopted following approach to perform holistic and integrated financial analysis of Fauji Fertilizer Bin Qasim Limited-FFBL Environmental analysis Industry analysis Operational review of FFBL Financial analysis The under mentioned documents are essential to perform comprehensive analysis of financial position, performance and cash position. 1. Business plan-Year 2013 to 2015 2. Approved budget-Year 2013 to 2015 3. Annual report of Year 2012 4. Audited financial statements-Year 2012 5. Internal audit charter / Terms of reference for internal audit 6. Internal audit reports 7. Audit engagement letters 8. Management...
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...forecasts. A number of ratios must be analyzed together to get a true and reliable picture of the financial performance of the business. Relying on each ratio individually may not be a good strategy. Year-end values may not be truly representative of the actual performance of the business and hence, average values should be used when they are available. The limitations of accounting methods also apply to financial ratio analysis. The selection and application of accounting standards may result in different ratio values. Financial ratio analysis, in fact, has a great use in management accounting which differs from financial accounting in being an on-going, performance management exercise. This summary is a review of the annual report and financial statements and the differences between the audited and the unaudited statements. The financial ratios are examined to determine if there has been improvement from 2008 to 2009 and to explain the cause. This paper will also summarize the relationship between revenue sources and expenses and explain the effect of revenue sources on financial reporting. The summary will also determine how the hospital’s revenues and expenses are grouped for planning and control....
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...Processes used to stay in compliance with the SEC Public traded companies have to comply with the regulations set by the Securities and Exchange Commission (SEC). One of the guidelines set requires Lowes to notify all shareholders when the organization files their financial reports to the SEC. This includes quarterly and annual reports. Lowes ensures that they are always in compliance with the SEC regulations through internal software and technologies, outside independent auditors, Audit Committee, Compensation Committee, and Governance Committee. Lowes has been found to be in total compliance with all regulations set by the SEC thus far. When the company makes any SEC filing, they are listed by category for the public to see on the company website at anytime. The purpose of the Audit Committee is to ensure all financial and accounting processes at Lowes are ethical. This committee does this through internal and external audit controls and processes. To have a non-biased financial audit done Lowes uses outside independent auditing company Deloitte & Touche LLP. This committee also oversees a reviewing process in which the senior managers of the company meet with the independent auditors after their annual...
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...flows, and statements of owners’ equity? How could the information in those statements be useful to an investor and to a manager? I do not really have a favorite company. Being a car enthusiast, I do pay close attention to the automotive industry. Out of the three major U.S. auto makers, Ford Motor Company is the only one who did not accept government bailout money, further enforcing the fact that the company can stand on its own two feet. This makes Ford my favorite company out of the three. The following information is based on the financial statements of Ford Motor Company which can be found in Ford’s annual report located at http://corporate.ford.com/doc/2011_annual_report.pdf. Ford’s annual report contains both a consolidated balance sheet and a sector balance sheet; both consolidated and sector cash flow statements, and consolidated statement of equity. The report contains no income statements. The financial statements of Ford Motor Company follow a traditional format. The information contained in financial statements can be beneficial to both investors and managers. When making a financial investment in a company, it is important to know how healthy the company is financially. The financial history is also helpful. Managers can use the information to help determine if expenses are too high as well as many other...
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...Marriott International, Inc Annual Report 2011 Accounting Principles 100 June 16, 2012 Marriott International, Inc., a leader in the hospitality industry, extended their attention to customer comfort to their intended annual report audience, and created a communication instrument that stands apart from most others in the typically dull arena of corporate reporting. In 2011, note worthy endeavors included Global Growth which caused an increase in revenues and increase in franchises. Marriott opened 210 properties with nearly 32000 new rooms around the world. Their brand portfolio which consists of urban centers to resorts has something for everyone. Each brand has been designed to deliver a unique travel experience across a range of customer segments. Marriott Vacations Worldwide Corporation, an addition to Marriott's assets in 2011, is now an independent, publicly traded company. With Marriott's management and franchising of this new spin-off they believe this will foster growth and attract new investors. Combined with "Revenue Per Available Room" (RevPAR), another business of Marriott's, grew and helped facilitate their global growth. Core values are an important part of the business philosophy that has help propel this company in 2011. Purpose, Values, Strategy and Success Measures combined with the vision to be the #1 hospitality company in the world and leading on three success measures: Loyalty, Profitability and Growth will pave the way to success. Financial...
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...Chance of Financial Fraud Reduced with PCAOB New Requirements The Sarbanes-Oxley Act of 2002 (SOX) requires that any accounting firm that prepares or issues an audit report with respect to a U.S. public company must register with the Public Company Accounting Oversight Board (PCAOB). Until recently, an accounting firm was required only to provide information current as of the initial registration date for the firm. Beginning on December 31, 2009, accounting firms were required to register with the PCAOB and file annual and current reports with the PCAOB. On August 13, 2009, the SEC approved the proposed rules with the original effective date of October 12, 2009, but on September 30, 2009, the PCAOB delayed the effective date to December 31, 2009. These parts implement the requirements of SOX section 102(d) that registered public accounting firms 1) report annual information about the firms and their audit practices, and 2) submit, as specified by the PCAOB or the SEC, more frequent information necessary to update the information previously filed with the PCAOB. Until now, the PCAOB had no requirement for annual reports or amendments to report material changes in initial registration information. The purposes of the new sections are 1) to keep the PCAOB up to date on a firm's basic professional information, such as name, location, licenses, and contact information; 2) to provide the PCAOB with current information regarding a firm's audit practice in order to facilitate analysis...
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