Financial Reporting Problem, Apple Inc.

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Purpose of Assignment

The purpose of this assignment is to help
you understand the basics of financial statement analysis related to the
assets section of the balance sheet, data interpretation, and how
financial information is obtained to understand how a company accounts
for its long-lived assets.

Assignment Steps

Resources: Financial Accounting: Tools for Business Decision Making

Note: The financial statements of Apple, Inc. are presented in Appendix A of Financial Accounting.
Instructions for accessing and using the company’s complete annual
report, including the notes to the financial statements, are also
provided in Appendix A.

Using the attatched 10-K report from Apple’s website. The Notes to Consolidated Financial Statements begin on page 50

Complete a 850-word summary of findings and recommendations from the following questions:

  • What are Apple’s current operations, challenges they are facing and
    opportunities they plan to pursue including any plans for expansion
    and/or relocations of operations? How did these relate to the
    following information?
  • What were the total cost and book value of property, plant, and
    equipment at September 2016, 2015, and 2014? (Provide the Gross P, P and
    E, Accumulated depreciation and amortization, and Net P, P and E or
    book value for each year.)
  • Using the notes to find financial statements, what method or methods
    of depreciation are used by Apple for financial reporting purposes for
    2016?
  • What was the amount of depreciation and amortization expense for each of the three years 2014-2016? (Hint: Use the statement of cash flows).
  • Using the statement of cash flows, what are the amounts of property, plant, and equipment purchased in 2016 and 2015?
  • Using the notes to the financial statements, explain in the summary how Apple accounted for its intangible assets in 2016.

Use the Week 2 Excel® spreadsheet to show your work if any calculations are needed and submit with your summary.

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