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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.
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.
Complete the following questions:
- What were the total cost and book value of property, plant, and equipment at September 27, 2014?
- Using the notes to find financial statements, what method or methods of depreciation are used by Apple for financial reporting purposes?
- What was the amount of depreciation and amortization expense for each of the three years 2012-2014? (Hint: Use the statement of cash flows).
- Using the statement of cash flows, what are the amounts of property, plant, and equipment purchased in 2014 and 2013?
- Using the notes to the financial statements, explain in the summary how Apple accounted for its intangible assets in 2014.
- Go to http://investor.apple.com.
- Select the Financial Information tab.
- Select the 10‐K annual report dated September 29, 2014.
- The Notes to Consolidated Financial Statements begin on page 50.
Use the Week 2 Excel® spreadsheet to show your work and submit with your summary.