Financial Reporting Problem II

Purpose of Assignment The purpose of this assignment is to expose you to the basic process involved in the analysis of the cash flow statement. Assignment Steps Resources: Appendix A of Financial Accounting: Tools for Business Decision Making Note: This is a two part assignment. Part 1(50 pts)Answer questions A-F in problem CT12-1 in Financial Accounting (p. 640). Provide 350-words of your findings in the team paper. Include conclusions concerning the management of the company’s cash.Part 2(50 pts)Provide 350-words of findings in the team paper for the following questions: What is the par or stated value per share of Apple’s common stock?What percentage of Apple’s authorized common stock was issued at September 27, 2014?How many shares of common stock were outstanding at September 28, 2013, and at September 27, 2014?Calculate the payout ratio, earnings per share, and return on common stockholders’ equity for 2014.(show your computations in the paper)Write your paper using APA guidelines (at least cite the textbook). Your paper should have an introduction, middle, conclusion. Combine Part 1 and Part 2 into one 700-word team paper.

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CT12-1 The financial statements of Apple Inc. are presented in Appendix A.
Answer the following questions.
(a) What was the amount of net cash provided by operating activities for the year ended
September 27, 2014? For the year ended September 28, 2013?
(b) What was the amount of increase or decrease in cash and cash equivalents for the
year ended September 27, 2014?
(c) Which method of computing net cash provided by operating activities does Apple
(d) From your analysis of the September 27, 2014, statement of cash flows, was the
change in accounts receivable a decrease or an increase? Was the change in
inventories a decrease or an increase? Was the change in accounts payable a decrease
or an increase?
(e) What was the net cash used by investing activities for the year ended September 27,
(f) What was the amount of interest paid in the year ended September 27, 2014? What
was the amount of income taxes paid for the same period?
Specimen Financial Statements: Apple Inc.
Once each year, a corporation communicates to its stockholders and other interested parties by
issuing a complete set of audited financial statements. The annual report, as this
communication is called, summarizes the financial results of the company’s operations for the
year and its plans for the future. Many annual reports are attractive, multicolored, glossy public
relations pieces, containing pictures of corporate officers and directors as well as photos and
descriptions of new products and new buildings. Yet the basic function of every annual report is
to report financial information, almost all of which is a product of the corporation’s accounting
The content and organization of corporate annual reports have become fairly standardized.
Excluding the public relations part of the report (pictures, products, etc.), the following are the
traditional financial portions of the annual report:
Financial Highlights
Letter to the Stockholders
Management’s Discussion and Analysis
Financial Statements
Notes to the Financial Statements
Management’s Responsibility for Financial Reporting
Management’s Report on Internal Control over Financial Reporting
Report of Independent Registered Public Accounting Firm
Selected Financial Data
The official SEC filing of the annual report is called a Form 10-K, which often omits the public
relations pieces found in most standard annual reports. On the following pages, we
present Apple Inc.’s financial statements taken from the company’s 2014 Form 10-K. To access
Apple’s Form 10-K, including notes to the financial statements, follow these steps:
1. Go to
2. Select the Financial Information tab.
3. Select the 10-K annual report dated September 29, 2014.
4. The Notes to Consolidated Financial Statements begin on page 50.

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