The Microsoft Corporation and Apple Computers, Inc.: Annual Report Comparision

4025 Words Aug 27th, 2009 17 Pages
The Microsoft Corporation and Apple Computers, Inc.: Annual Report Comparison Both The Microsoft Corporation and Apple Computers, Inc. have become names with which the public is familiar. Both companies have many divisions, and both must manage extensive assets and liabilities. Since both companies report large amounts of income, the matter of accounting checks and balances becomes more complicated than many smaller companies, but equally as important. Financial reports and the audits of these reports are public information and serve to provide a process to decrease errors and omissions and questionable accounting practices.
History of Microsoft and Apple Microsoft. The idea of Microsoft was born in the minds of Bill Gates and Paul
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Apple. The CEO of Apple is Steve Jobs who is also the founder of Apple. Job’s message to the stockholders in a January 9, 2009, press release was not one of products and what the future held for them, but one of reassurance of Jobs’ health. He revealed that he did have a health issue but it was a minor, hormonal issue that was easily healed. He assured the stockholders and the board that if he would let them know if there came a time when he could no longer perform his duties. He put to rest the rumors of a serious illness or that he was on his death bed. He did state that the press release would be the last time his health issues would be discussed.
Auditor’s Reports Microsoft. On July 31, 2008, the independent registered public accounting firm of Deloitte and Touche, LLP submitted their audit to the Board of Directors and Stockholder of Microsoft Corporation. The Committee of Sponsoring Organizations set forth the criteria in Internal Control – Integrated Framework which was adhered to by the auditor’s. The criteria specified that the audit should focus upon how the internal controls impacted the financial reporting of Microsoft. In addition, a Report of Management on Internal Control Over Financial Reporting was submitted with the audit. This report is used to assess how well the management of Microsoft controlled the financial reporting through internal control. The audit met the

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