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Volkswagen:

Annual Report Breakdown

Abstract

Financial accounting can be a stressful job to most small business if they do not know what they are looking at. However, large corporations such as Volkswagen have this animal figured out and laid out for everyone to see. In this assignment we will be looking at several aspects of what makes up annual report. First, we will indentify and explain the main sections that comprise the meat and potatoes of an annual report. We will also discuss the key factors that influenced the company’s financial performance during the year. Next, we will define and look at the primary assets held by the company. Lastly, an explanation will be given on how management characterizes the internal control environment of the company. I hope by the end of this assignment you will gain a better understanding on the inner workings of Volkswagens budget. In order for us to identify the main sections of the annual report we must first define what an annual report is. According to our textbook an annual report is a statement that summarizes the financial results of a company’s operations for the year and its plans for the future (Accounting principles, 2009). When you look at Volkswagen’s annual report the first thing you notice is that they have many portions that make up the report. For the ease of understanding, they have segregated the financial documents into five streamlined categories: Divisions (shows all sub company assets under Volkswagen control i.e. Audi, Bentley, and SEAT), Corporate Governance (includes an accurate description of safety practices, financials, leadership and overall control of the company), Management Report (incorporates shares and bonds, risk assessments, and all current and future developments), Consolidated Financial Statements (list all financial statements and documents to include income

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