...Dell's 10-K Report Michael Hedrick Bus 630 Managerial Accounting Anton Narinskiy Aug 6th, 2012 What is Dell's strategy for success in the marketplace? Dell's business strategy combines its direct customer model with a highly efficient manufacturing and supply chain management organization and an emphasis on standards-based technologies. This strategy enables Dell to provide customers with superior value; high-quality, relevant technology; customized systems; superior service and support; and products and services that are easy to buy and use. Does the company rely primarily on a customer intimacy, operational excellence, or product leadership customer value proportion? What evidence supports your conclusion? The main focus for Dell would have to be its customer intimacy. Dell's business model eliminates wholesale and retail dealers that would add unnecessary time costs and should diminish Dell's understanding of what the customer expects of them. By avoiding expenditures associated with the retail business, Dell is able to offer superior customer service. From a personal point of view, I had a virus downloaded by an unwanted email and Dell's customer support service took care of me and eventually, after a few hours, eradicated the virus. My computer has been fine ever since. What business risks does Dell face that may threaten its ability to satisfy stockholder expectations? One risk is that Dell needs to manage its research and evaluation of new...
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...ensure their effectiveness. The purpose of SOX is to reduce the possibilities of corporate fraud by increasing the stringency of procedures and requirements for financial reporting. 2. Richard Scrushy first CEO charged with violating the SOX Act. He was owner and founder of HealthSouth Corp. 3. Under the Sarbanes-Oxley Act, the CEO and CFO of publicly traded companies to certify the appropriateness of their financial statements and disclosures and to certify that they fairly present. 4. 10-K is a company’s annual report that is filed yearly & make public. 10-Q is the company’s quarterly report. Upper management of major companies is to submit these to the Securities Exchange Commissions. 5. A company that meets conditions of a million dollar amount has been subject to periodic reporting requirements pursuant to Exchange Act Sections for certain amount of time, has previously filed at least one annual report pursuant, and is not eligible to file “Small Business” forms. They have75 days after the end of their quarter they have to file their quarterly financial report. 6. A person would go to a company’s webpage to find quarterly and annual reports for publicly traded company. Each company should have an investor relations section. 7. Microsoft: Assistant Director, Nike: Assistant Director, and Cisco: Assistant Director. 8. Some of the criminal penalties for falsifying documents or cover ups information related to financial matters and SOX are imprisonment...
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...Adelphia Communications Corporation was a cable company, whose owners, John Rigas and his son Timothy,” were charged with bank fraud, securities fraud, and conspiracy.” (Reference #4) They were charged with all fifteen accounts of securities fraud. Another son of his was acquitted, as well as the former treasurer, Michael Mulcahey. “John and Timothy now face 30 years in prison because of the bank fraud charge.” (Reference #4) “They were charged with hiding over $2.3 billion dollars’ worth of debt in the company,” (Reference #4) as well as stealing from there investors. John became so greedy with the money he was taking, that his son became worried about it and tried to limit him to only taking out one million a month. The prosecution had two witnesses that they used in order to bring down the Rigas’, and they were Adelphia executives, James Brown and Karen Crosniak. They testified and tried to say that they weren’t aware of what they were doing, but ignorance of the law doesn’t mean you can get away with what you do. The effects of what they did have impacted the company so much that they had to move to a new location, and they operate under bankruptcy protection. There are many ethical issues that pertain to this issue, as well as many laws that were broken. First, what some call “creative accounting”, this is when a company tries to do something with their accounting reports to make the company look very profitable so that they can attract new investors. This is...
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...such as notices about the registration of shares (Securities Laws, Rules, Regulation and Information, 2008). SEC laws also require companies to be honest and require them to disclose any stock purchased or sold by company executives and to file quarterly 10-Q and annual 10-K reports on the company’s financial results with the SEC (Securities Laws, Rules, Regulation and Information, 2008). Companies must also provide shareholders with annual financial statements and proxy materials and information about annual shareholders’ meetings (The Investor’s Advocate, 2009). These disclosures are meant to assure investors have as much information as possible about their investments and potential investments. Investors can use the information provided in financial statements, for example, to ascertain the financial strength of a company. Financial ratios can be calculated from the information provided by financial statements. Ratios such as the current ratio, debt ratio, return on equity, and day’s receivable can help determine the effectiveness of a company’s management team by illustrating its financial strengths and weaknesses. In 2008 and 2007, respectively, Starbuck’s current ratio was .80 and .79 (Starbucks Corporation Form 10-K, 2008). The current compares current liabilities to current assets to determine how much of a company’s current obligations can be paid for by current assets. In effect, the current ratio illustrates the liquidity...
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...the largest technology company in the world by revenue and profit. Although Fortune Magazine named them the most admired company in the United States in 2008, Apple has received widespread criticism for its environmental and business practices. Apple issued a statement stating that the Company would likely need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants. The Company had not determined the amount of the charges, the resulting tax and accounting impact, or which periods may require restatement. Therefore, the Company filed a Form 8-K stating that the financial statements and all earnings issued by Apple relating to periods beginning on September 29, 2002 should therefore not be relied on. The investigation is still going on so Apple is delaying the filing of its Form 10-Q for the quarter that ended July 1, 2006. 2. Discuss “management” responsibility to the investors and stakeholders for the financial restatement. Management is responsible for establishing adequate internal control over financial reporting. Management also has to access the effectiveness of the company’s internal control over financial reporting. It is up to management to identify any material...
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...4/23/2011 Form 10-K 10-K 1 d10k.htm FORM 10-K Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2010 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-5231 McDONALD’S CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-2361282 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) One McDonald’s Plaza Oak Brook, Illinois (Address of principal executive offices) 60523 (Zip code) Registrant’s telephone number, including area code: (630) 623-3000 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered Title of each class Common stock, $.01 par value New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None (Title of class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Act. Yes No...
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...follow the “Search for Company Filings” link, the “Companies & Other Filers” link, enter “Dell Computer,” and search for SEC filings made by Dell. Find the most recent 10Q and 10K and download the forms. Look on the balance sheet to find the book value of debt and the book value of equity. If you look further down the report, you should find a section titled either “Long-term Debt” or “Long –term Debt and Interest Rate Risk Management” that will list a breakdown of Dell’s long-term debt. Answer: The book value of a company's equity is the same as stockholder's equity, which can be computed by subtracting the total value of liabilities from total assets. (Total Assets) = (Total) Liabilities + Stockholder's Equity (book value of equity). Stockholder's Equity (book value of equity) = Total Assets –Total Liabilities. The book value of the company’s liabilities and equity was found from the site http://www.sec.gov . I found Dell’s Form 10K, dated January 28, 2011, and snap shot is attached here with. Dell’s Form 10K shows the following: Book value of equity: 10-k: Total Assets =38,599 millions; Total Liabilities = 30,833 (Dell 10-K, January 28, 2011, p.57) Book value of equity = Total Assets –Total Liabilities = $38,599 – $30,833 = $7,766 millions, (Dell 10-K, January 28, 2011, p.57). The book value of the company’s liabilities and equity was found from the site http://www.sec.gov...
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...ABSTRACT Publicly traded companies make multiple reports available to their investors through their websites. Not only does these companies make their financial information available to the public, they must also send in detailed reports to the SEC. In this paper, we will be examining a world-wide publicly traded company, American Eagle Outfitters. We will be looking at the financial information that the company has made available for the public to see, as well as the annual form, or 10-K, that is filed with the SEC. FINANCIAL REPORTS AND SEC FILINGS Introduction American Eagle Outfitters, a leading clothing retailer, offering high quality, on-trend clothing options for men and women, adults and children alike. While being a worldwide retailer, American Eagle Outfitters is a publically traded company, which means that its financial information is available for everyone to see. Along with this financial information, AEO must also submit annual reports to the Securities Exchange Commission. In this paper, we will be reviewing the financial reports of American Eagle Outfitters and assessing the differences between each of the financial reports. The Financial Reporting Model The financial reporting model is a written report of the financial condition of a company or firm. Investors and lenders, as well as government oversight, utilize financial reporting for different reasons. Investors utilize financial reporting in order to determine the financial health of a company...
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...Ethics and Compliance Team C has chosen Lowe’s as our organization. The role of the ethics and compliance in Lowe’s financial environment will be assessed and the procedures the company has in place to ensure ethical behavior will be described. An explanation of how the financial markets work within the United States, identifying the processes that Lowe’s uses to comply with SEC regulations. Attached are the annual report and SEC filings for the past two years. With the financial information from Lowe’s, Team C will select one ratio from each of the ratio categories to include liquidity, asset management, debt management, profitability, and market value. It will be discussed the trend for each ratio and whit it says about the organization’s financial health. Lowe’s values it reputation for maintaining high ethical standards in its workplaces and around the world where ever they do business (Lowe’s, 2012). The company states that integrity is one of their core values and that every employee must comply with all governmental laws, regulations and rules while acting on behalf of the company. All employees of Lowe’s should avoid in any conduct that is inconsistent with the company’s ethical principles, even if it is legally permissible. Lowe’s also requires all vendors and suppliers to comply with their code of conduct and business ethics, failure to do so will result in termination of the business relationship. Lowe’s requires all personnel (including family members...
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...STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0063 Expires: March 31, 2018 Estimated average burden hours per response ... . 1,998.78 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 GENERAL INSTRUCTIONS A. Rule as to Use of Form 10-K. (1) This Form shall be used for annual reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)) (the “Act”) for which no other form is prescribed. This Form also shall be used for transition reports filed pursuant to Section 13 or 15(d) of the Act. (2) Annual reports on this Form shall be filed within the following period: (a) 60 days after the end of the fiscal year covered by the report (75 days for fiscal years ending before December 15, 2006) for large accelerated filers (as defined in 17 CFR 240.12b-2): (b) 75 days after the end of the fiscal year covered by the report for accelerated filers (as defined in 17 CFR 240.12b-2); and (c) 90 days after the end of the fiscal year covered by the report for all other registrants. (3) Transition reports on this Form shall be filed in accordance with the requirements set forth in Rule 13a-10 (17 CFR 240.13a-10) or Rule 15d-10 (17 CFR 240.15d-10) applicable when the registrant changes its fiscal year end. (4) Notwithstanding paragraphs (2) and (3) of this General Instruction A., all schedules required by Article 12 of Regulation S-X (17 CFR...
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...978-0-9841839-2-0 To be completed by the student and submitted with the completed annual report project according to your instructor’s requirements. 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: Student Name:ASHLEY K BINEGAR Term: SPRING 1 2011 Selected Company: TARGET Instructor: 2. Print your completed electronic template. 3. Attach the following: • This page completed with all required information. • Completed Word template. Template boxes expand as you input responses. Adjust page breaks as necessary to submit a professional representation of your work. CHAPTER 1 - INTRODUCTION Select a Company and Gather Documents Chapter 1: Select a Company and Gather Documents – Question 1 Identify with an “X” the primary source of data for this project. Annual report to shareholders X Annual report to shareholders with a letter from Chief Executive Officer and SEC Form 10-K as part of the annual report to shareholders. The annual report may include additional...
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...Case Introduction Danle Corporation (Danle), a public company engaging in vehicles manufacturing business used asbestos in the past three years. In fiscal year 2008 and 2009, Danle received two similar complaints about mechanics suffered severe illness due to the exposure to asbestos from the parts manufactured by Danle. Danle disclosed neither of the lawsuits litigations in the 2008 & 2009 Form 10-K, even though the external counsel offered evidence showing the potential possible liability for Danle in Dec 2009. For the three Fiscal Year 2010’s Form 10-Qs (1st, 2nd & 3rd quarters), Danle disclosed related information about the potential loss in the footnotes and consolidated financial statements in 2010’s Form 10-K. Question 1: Disclosure Issue 2009 In 2009, the conclusion reached by Danle’s management after further assessment of the evidence discovered led the company determined not disclosing anything about the matters in its Form 10-K for the year end Dec 31,2009. However, we have totally different conclusions. According to FASB definitions for Probable, Reasonably Possible and Remote are as follows: 1. Probable: The future event or events are likely to occur; 2. Reasonably Possible: The chance of the future event or events occurring is more than remote but less than likely. 3. Remote: The chance of the future event or events occurring is slight. In December 2009, evidence discovered by Danle’s external counsel concluded that Danle could potentially...
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...Lab #1 assignment Assess the impact of sarbanes-oxley (sox) compliance law on Enron Course Name: Information Technology Audit & Control Student Name: Abdullah Shafea, Ammar Alshehri and Mohammed Rammal Instructor Name: dr. k. Mustafa Lab Due Date: 23/2/2016 Overview Enron, a corporation headquartered in Houston, operated one of the largest natural gas transmission networks in North America, totaling over 36,000 miles, in addition to being the largest marketer of natural gas and electricity in the United States. Enron managed the world's largest portfolio of natural gas risk management contracts and pioneered innovative trading products. The company was on Fortune's "Most Innovative" in the United States listing for several years running and reached 7 on the Fortune 500 list in 2000. Its bankruptcy in December 2001 was the largest such filing in United States history. The name Enron became synonymous with corporate greed and corruption, and its demise cost investors and employees over $70 billion in lost capitalization and retirement benefits. Enron shows us what a company and its leadership are capable of, when they are obsessed with making profits at any cost. One of Enron's lasting effects was the creation of the Sarbanes-Oxley Act of 2002, which tightened disclosure and increased the penalties for financial manipulation. Second, the Financial Accounting Standards Board (FASB) substantially raised...
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...handbook will give you enough information to get you started. (The following pages may be turned into me – you do not need to type up your responses in a separate document. If you are working with a partner, make sure BOTH of your names appear on the assignment). ACCOUNTING RESEARCH CASE 1 – PART A: SEC EDGAR DATABASE This first exercise involves EDGAR, the SEC’s database. You will use EDGAR to find out information about one company. Your company is based on the first letter of your last name. Using the table below, determine which company you are assigned. At the EDGAR home page (www.sec.gov), go to “Company Filings Search” under the heading “Filings.” On the new screen, search by company name (EDGAR is picky about the exact form of the company name, so you may want to click the “contains” button.)...
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...in this exercise are based on Dell, Inc. To answer the questions, you will need to download Dell’s 2005 Form 10-K. You do not need to print this document in order to answer the questions. What is Dell’s strategy for success in the marketplace? Does the company rely primarily on a customer intimacy, operational excellence, or product leadership customer value proposition? What evidence supports your conclusion? Dell’s business strategy combines its direct customer model with a highly efficient manufacturing and supply chain management organization and an emphasis on standards-based technologies. This strategy enables Dell to provide customers with superior value; high-quality, relevant technology; customized systems; superior service and support; and products and services that are easy to buy and use. The key tenets of Dell’s business strategy are: A direct relationship is the most efficient path to the customer. A direct customer relationship, also referred to as Dell’s “direct business model,” eliminates wholesale and retail dealers that add unnecessary time and cost or diminish Dell’s understanding of customer expectations. | | What business risks does Dell face that may threaten its ability to satisfy stockholder expectations? What are some examples of control activities that the company could use to reduce these risks? (Hint: Focus on pages 7-10 of the 10-K.) Dell’s business is extremely competitive and no assurances can be offered that Dell can maintain its...
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