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. Complete a 1,050-word summary of findings and recommendations from 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. Use the Week 2 Excel® spreadsheet to show your work and submit with your summary. Click the Assignment Files tab to submit your assignment. Grading Guide Content Met Partially Met Not Met Total Available Total Earned 5 #/5 Completed a summary of findings and recommendations from 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. The summary was 1,050 words in length. Comments: Writing Guidelines Met Partially Met Not Met Total Available Total Earned 3 #/3 The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Intellectual property is recognized with intext citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Comments: Name Section Date Chapter 9 Financial Reporting Problem Apple Inc. (a) (b) (c) (d) (e) 531
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