Accounting assignment Essay Example | Topics and Well Written Essays - 1000 words - 1

Accounting assignment - Essay Example ac, a portfolio of professional and consumer software applications, a variety of service, support and accessory offerings and the OS X and iOS operating systems. 2) Examine its Balance Sheet. Make a list of different accounts of Assets, distinguishing between Current and Non-Current (Tangible and Intangible), and Liabilities, distinguishing between Current and Long-Term Liabilities. Under this disclosure there are several items that are listed. These items include basis of presentation and preparation of financial statements. They prepared and presented under the U.S. GAAP. The company’s fiscal year ends on last Saturday of September and has 52 or 53 weeks period. The second item is revenue recognition, financial instruments and foreign currency translation. This shows the Company’ revenue generating activities and items. Under this note there are items such as Cash, Cash Equivalents and Marketable Securities, derivative financial instruments and accounts receivables. The other disclosures include income taxes, long term debt, shareholder’s equity, comprehensive income, benefit plans, commitments and contingencies, segment information and geographic data and selected quarterly financial information that are not audited. 4) Calculate the gross profit percentage for each of the years shown in the company’s income statements. Evaluate the company’s trend in sales and gross profit. By what percentage amounts did net sales increase or decrease in each of the years reported? The company’s sales are increasing at a stable rate however the increase in cost of sales causes the gross profit to decrease. Gross profit increases in the year 2012 but decreases in the year 2013. In the year 2012 net sales increased by (156508-108249)/108249= 44.58 percent. In the year 2013 it increased by (170910-156508)/156508= 9.20 percent. The company reports both investments in short term and long term marketable securities. These marketable securities are carried ate their