Executive Summary on Apple ACC/280 Executive Summary on Apple In today’s digital global network of financial accounting, information and communication are the effective and valuable traits, which help business professionals to flourish in one’s career. Organizations require that employees portray top notch accounting skills to ensure that both the individual and employer are success in business. In nearly all areas of the business world[pic][pic]communication1 image by Andrey Kiselev from Fotolia.cocommunication1 image by Andrey Kiselev from Fotolia.comGood communication is essential for building rapport with clients.c7c785a5-bc47-695e-06fc-81159576fd4a300400, establishing a level of familiarity and trust with clients, coworkers, …show more content…
How much cash and cash equivalents did the company have at the end of its 2 most recent annual reporting periods? Apple 's financials is its cash balance, with cash and cash equivalents standing at more than $51 billion as of January 2011. CEO Steve Jobs has said that this cash would not be used to buy back stock or pay a dividend, but for potential future acquisitions without the need for outside financing. In a press release given by Apple it addressed the risk and uncertainties as well as the normal cost of keeping the organization competitive and innovative. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis (Apple, 2011). Looking at the accounts payable for the last two reporting years Apple shows $12,015.00 for 2010 and $5601.00 for 2009 giving an increase of $6,414.00 in the one year period. Assets Apples reported the company total assets for year ending September 25, 2010 as $75,183 million dollars; this is significant increase when compared to the 2009 report for year ending September 26, 2009 as $47,501 million dollars in total company assets. The
Apple inc is an american multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. Its best-known hardware products are the Mac personal computers, the iPod portable media player, the iPhone smartphone, the iPad tablet computer. Apple has around 437 stories around the world and around 100,000 staff (around 200 staff per storie) apple was first started in 1976 by founder Steve Jobs, Ronald Wayne, Steve Wozniak. Apple has shareholder and the biggest shareholder have a say in what Apple do and have a say in how come in or out. Apple Is worth is around $700 billion the most expansive company in the world. Apple want to "better" great technology for is customer there main goal is to beat their main competition Samsung.
Refer to the financial reports of Apple, Inc. for the year ended September 25, 2010
In May 2010, Apple's market cap closed the day at $222.12 billion putting it ahead of rival Microsoft Corp. Shares of Apple reached an all-time high of $330.26 during 2011's first regular trading session.
The technology portion of their company has grown tremendously which has caused so much of their growth. In addition, they found the perfect formula to appeal to and retain customers. Most of their customers are loyal to their company and insist on sticking to their products. Their market capitalization, $639,922 million, is extremely high compared to other companies in their industry They returned about $8 billion to shareholders during their quarter. Also, their gross margins, currently at 38.01%, are high at passed by
- April 19, 2006: Apple Computer, Inc. announced that it expected its third quarter revenues to be around $4.2-$4.4 billion, GAAP earnings of $.39-$.43 per share, translating to non-GAAP earnings of $.43-$.47 per share. Analysts expect non-GAAP earnings of $0.47 per share on revenues of $4.72 billion in the same period.
On September 29, 2012 Apple had a 12% increase in cash, cash equivalents, and short-term marketable securities combined from the previous year. At the end of the September 24, 2011 accounting period Apple reported $9,815,000 in cash and cash equivalents, and the sum of 16,137,000 in short-term marketable securities. Apple reported at the end of the September 29, 2012 accounting period the sum of $10,746,000 for cash and cash equivalents, and the total of $18,383,000 for short-term marketable securities
Apple is a large multinational company and is the second largest information technology company. Apple has a revenue of $199.9 billion and a profit of $44.46 billion. Apple’s market capital, meaning the aggregate value of the company based on its current share price and the number of outstanding stocks is $741.8 billion. Apple is a public company meaning you can buy shares into the company, which are traded freely on a stock exchange and is now the largest publically listed company. It was founded by Steve Jobs, Steve Wozniak and Ronald Wayne on April 1,1976. Apple employs 92,600 people and has 437 stores located in fifteen different countries. An online store is also available in 39 countries to serve on
The inventory ratio is 61.6 - FY2016 and 59.6 -FY2015, this is above the industry average of 43.5, this shows Apple inventory management process is operating efficiently and the company is turning inventory at a heathy rate. Apples Debt ratio is well below industry, for FY2016 is 25.2% and FY2015 is 19.2% vs industry average of 53.7%. This indicates Apple’s debt is at reasonable levels, the company is a low risk borrower and has adequate assets to fund its debt. ROA (return on assets) is trending upward and is higher than the industry average of 15.07. For FY2016 the ROA was 30.7% vs. 28.4%. for FY2015, this indicates Apples earnings are sufficient, interest cost is low due to below average
The accounting equation at the moment assets ($549,000) = liabilities ($221,900) + equity (unknown). To find the equity of the, the equity of a company consists of stocks, money contributed by the owner, and shareholder contributions, just to name a few. Base
Apple’s annual report, as submitted to the United States Securities and Exchange Commission (SEC) on Form 10-K, lists its total assets as $47,501 for fiscal year 2009 and $75,183 for fiscal year 2010. Its largest asset for the same two years was $18,201 in short-term marketable securities in 2009 and $25,391 in long-term marketable securities in 2010. Accounts payable listed as $5,601 in 2009 and $12,015 in 2010. All figures are noted in millions (Apple, Inc. Annual Report). Apple does not report taxes collected from its customers that are paid to governmental authorities. Apple’s 2010 annual report lists cash, cash equivalents, and marketable securities valued in 2010 as $51,011 million and in 2009 as $33,992 million. Total current assets in the year of 2010 were $41,678 million and for the year ending 2009 were $31,555 million. Current assets are listed in the order
Apple had nearly $137 billion of cash at the end of Dec 2012. Over the past few years, the Company had been highly successful with the launch of the iPhone 3G in 2008, and which was followed by the launch of iPad in 2010. The Company enjoyed high profitability, and was able to keep its costs at a minimum. The gross margin on the iPhone was between 49% and 58% from October 2010 to March 2012, and the gross margin on the iPad was between 23% and 32% in the same time period. Apple’s capital structure included no debt; hence, there was no outflow of cash for making interest payments.
Business communication can be defined as the process of sharing information among business professionals, prospective customers, and affiliates who are associated with an organization. The essential skills of business communications are currently in demand and highly required for the workforce for the modern workforce. To be an effective communicator is to have the ability to respond with skill, confidence, and assertiveness and is pertinent to the quality and expertise business professionals considered for employment. Hence, knowing how to communicate properly in an organizational structure requires the skill of communication necessary to interact with different levels of management. In a world
The balance sheet and Income statement are the most important financial statements of the company that help conduct current analysis of company and evaluate its trends overtime. The balance sheet represents the company snapshots of its financial position on the last days of accounting period. Apple balance sheets, which represent a snapshot of its ending balances in asset, liability and equity account as of the date stated on the report, are changes each year from 2003 to 2014. On the other hand, the income statement shows its financial performance over 2003 to 2014. Apple basically ends its accounting period in September. Most of the long-term debts are in the form of the bonds. According to appleinsider.com, Apple recently issues a new euro bond worth about $2.26 billion with a maturity date on January 17, 2024 and coupon rate of 1.375% payable annually. The first payment will occur on January 17, 2016. Moody’s recently assigned a rating of Aa to Apple Inc. 's senior unsecured note issuance. Thus, Apple recent capital expenditure amount to 11,488 million according to morningstar.com. The analysis of financial statements is conduct to compare Apple with one of its closest rival Hewlett-Packard and twelve ratio were calculated. From table1 and chart1, the current ratio that determine the company ability to meet its short term obligation shows Apple’s current ratio is higher than that of Hewlett-Package from 2003 to 2014. That is, Apple is solvent than Hewlett Packard. Table
▪ Founded 1976 as Apple Computer ▪ 2009 Revenue: $42.91 billion ▪ 2009 Net Income: $8.24 billion ▪ Employees: 34,300
Shareholders: As of April 2, 2013, Apple’s Stock is at $429.79 (Apple Inc. 2013). These investors always need to be kept in the loop of what is going on in the company and know how the company is being ran.