ACC 291 Week 2 Fordyce and Atwater ( New )
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 .
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ACC 291 Week 2 Fordyce and Atwater ( New )
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