Description 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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