Apple Inc : A Global Leader

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Apple Inc. is a global leader in the personal computer and mobile phone industry. The American company operates as a multinational firm, and has helped in adoption of new technology in the industry in the over 200 countries in which it operates. One of the reasons that has helped Apple Inc. (Fortune 500, 2015) to expand its business operations is its compliance with the financial regulations that are adopted for firms of this nature; that is, firms that operate in the international market. For this reason, the company adopts diverse methods to account for its assets, liabilities and shareholder equity. The first method adopted by the company is the balance sheet or the T-method is a two-sided method in which assets are shown on the left…show more content…
However, the cost of the inventory relates to the cost of the purchased material later in the recording period. As such, the results in the inventory are valued towards the current replacement cost, in that when there is inflation, adoption of FIFO leads to the lowest estimate of the costs of the goods sold by the firm; this differs with the use of Last-in, First-out method or the weighted averages. In this regard, the inventory valuation method affects reported results in that when the cost of the inventories is greater than the market value, then provisions are made in order to cater for the variation amid the cost and the market value.
As an industry leader, Apple Inc. is required to adopt quality internal control methods, which guarantee its normal operations, increase efficiency and enhance accountability and transparency. Among the internal controls that Apple Inc. adopts are the Internal Audit function, this is mandated monitoring of the operations of the firm and reporting areas that require improvements (Apple Press Info, 2015). The treasury and finance matters, this evaluates the financial issues of the firm and how it can be more cost effective; the enterprise risk management, this evaluates the risks that the firm is likely to face and helps in
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