Financial Reporting Purposes

Question 1

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.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.
• 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 50Q