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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Case 1-73 Research and Analysis Using the Annual Report

Obtain Apple Inc.’s 2016 annual report either through the “Investor Relations" portion of their website (do a web search for Apple investor relations) or go to www.sac.gov and click “Company Filings Search" under “Filings.”

Required:

Answer the following questions:

  1. On what date did Apple’s fiscal year end? Was this date different from the previous year? If so, why?

To determine

Concept Introduction:

Annual report:

The annual report of the company includes the financial and other operating descriptions about the business for a particular year.

Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.

To Indicate:

The Fiscal year end date for Apple Inc. for the year 2016 and reason fir change as compared with the previous year.

Explanation

Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements. The Fiscal year end date for Apple Inc...

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