Accounting Project

1620 Words May 23rd, 2014 7 Pages
FINAL PORTFOLIO PROJECT

Portfolio Project
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Intel Inc.
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Refer to the Intel Inc. 2012 financial statements and the accompanying notes to answer the
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following questions. The 2012 financial statements of Intel can be accessed at:
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http://www.sec.gov/Archives/edgar/data/50863/000119312513065416/d424446d10k.htm
Module 1
1) What are the maturities on Intel’s Long-term debt?
2016 1,500
2017 3,000
2018 & thereafter 10,275
2) What are Intel’s projected obligations on Long-Term Debt and Payments due by period?
Total
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Available for Sale, Trading Assets, and Other Long-term Assets.
5) How does Intel determine fair value?
“When determining fair value, we consider the principal or most advantageous market in which we would transact, and we consider assumptions, such as an obligor’s credit risk, that market participants would use when pricing the asset or liability. For further information, see “Fair Value” in “Note 2: Accounting Policies” in Part II, Item 8 of this Form 10-K.”
6) How does Intel use derivative financial instruments?
Intel uses those instruments to manage, currency exchange rate and interest rate risk as well as equity market risk and commodity price risk.
The derivative financial instruments are recorded at fair value and are included in other current assets, other long-term assets, other accrued liabilities, or other long-term liabilities.
Module 3
1) What amounts relative to income taxes does Intel report in its:
a. 2012 income statement?
Provision for taxes = 3,868
b. 29 Dec 2012 balance sheet? Long-term deferred tax liabilities = 3,412 | |
c. 2012 statement of cash flows?
Income taxes payable and receivable = 229 millions
Income taxes, net of refunds = 3,930
2) Intel’s provision for income taxes in 2011 and 2012 was computed at what effective tax rates?
2011 27.2%
2012 26%
3) How much of Intel’s 2012 total provision for income taxes was current tax expense, and how much was deferred tax expense?
Current
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