APPLE SUMMARY REPORT

Running head: APPLE SUMMARY REPORT

Apple Inc.
Juan Carlos Nadal
ACG 2003 Principles of Accounting
Prof. Georges De Schryver
June 2, 2016

APPLE SUMMARY REPORT

History

Apple Inc. is an American corporation that manufactures computer hardware and software, it was
stablished on April 1st 1976 by Steve Jobs with 45% of the company, Steve Wozniak with 45%
and Ronald Wayne with the remainder 10%, by the time he sold his 10% of the company of
$800, today it could be worth around 3 billion dollars.
The reputation made by the company is one of the most important assets they have, the
customers are loyal to the brand and the interaction between company and customer is top
priority for Apple Inc.
Prospect customers on the other hand feel the brand is overpriced and the lack of compatibility
with windows is a serious problem.
The most popular products in the history of the company are:
Apple II
The first Macintosh
The iMac
The iPod
The iPod nano
The iPhone nano
The iPhone

(theguardian.com, 2011)

APPLE SUMMARY REPORT

Ernst & Young LLP has been Apple Inc.s independent auditors since 2009, before Ernst &
young the auditors used to be KPMG. Ernst & Young LLP also audits companies like Google
and Facebook

(www.stockkevin.com, 2012)

Apple stock is traded on the NASDAQ Global Select Market under the ticker symbol AAPL. The
company common stock price for today is $97.72 with a tendency to get lower
(NASDAQ, 2016)
Apple Current assets:

2015

2014
Cash and cash equivalents
13,844

$ 21,120

Short-term marketable securities

20,481

11,233 Accounts receivable, less allowances of $82 and $86,

respectively 16,849

17,460 Inventories

2,349

2,111 Deferred tax assets

5,546

4,318

Vendor non-trade receivables

13,494
assets

9,759
9,539

current assets
68,531
164,065

Other current
9,806

Total

89,378
Long-term marketable securities
130,162

Property, plant and equipment, net

22,471

20,624 Goodwill

5,116

4,616 Acquired intangible assets, net

3,893

4,142
5,556

Other assets
3,764

$ 290,479

Total assets
$ 231,839

APPLE SUMMARY REPORT

(investor.apple.com/financials, 2016)
At the company have at the end of its 2 most recent annual reporting periods Apple shows
$21.120 by the year 2015 and $13.844 by the year 2014.
The total current assets of the company by the year 2015 were $89.378 and by the year 2014
were $68.531
By 2015 the two largest current assets were cash and cash equivalents with $21.120 and ShortTerm Marketable Securities with $20.481, by the year 2014 the two largest current assets were
account receivable with $17.460 and Cash and equivalents with $13.844
Apple Total assets at the end of 2015 were $290.479 and Apple total assets at the end of 2014
were $231.839

Apple Current liabilities:

2015 2014

Accounts payable

$ 35,490 $ 30,196

Accrued expenses

25,181

18,453

Deferred revenue

8,940 8,491 Commercial paper

8,499 6,308 Current portion of long-term debt
2,500 0

Total current liabilities

80,610

63,448 Deferred revenue, non-current

3,624 3,031
53,463

current liabilities

Long-term debt
28,987

Other non-

33,427

24,826

APPLE SUMMARY REPORT

Total liabilities
171,124 120,292 Commitments and contingencies Shareholders equity:
Common stock and additional paid-in capital, $0.00001 par value: 12,600,000
shares authorized; 5,578,753 and 5,866,161 shares issued and outstanding,
respectively

27,416

earnings

23,313 Retained

92,284

Accumulated other comprehensive income

87,152
(345) 1,082

Total shareholders equity

119,355 111,547

Total liabilities and shareholders equity

$ 290,479 $ 231,839

(investor.apple.com/financials, 2016)
Apple Inc. total account payable for the year 2015 is $35.490 and for the year 2014 is $ 30.196
For 2015 the total Current liabilities were $80.610 and for 2014 were $63.448
The Total Liabilities and Shareholders equity for 2015 was $290.479, for 2014 was $231.839
Apple also registers $51.5billion on revenue for the last quarter of 2015 vs 42.1 billion reported
in 2014

APPLE SUMMARY REPORT

APPLE SUMMARY REPORT

In order to better understand the company the main point is the way the stock market is
fluctuating, the company showed a constant tendency down, while the numbers for 2015 were
promising, 2016 is not giving the results desire.

APPLE SUMMARY REPORT

Conclusion
Apple Inc. is a company focused on a market who tends to be very loyal but the truth is that
Apple is a company who can suffer a lot from elasticity, the Apple products have a high elasticity
and any change in the economy can affect their profits.
2015 was a great year for Apple but 2016 is not giving the results the investors are looking for. In
times like this the best strategy is to offer new product or as we all know an upgrade of a product
that is working already in the market.
In my opinion iPhone 7 will be knocking our doors sooner than we expected.

APPLE SUMMARY REPORT

References

Halliday, J. (2011). Apple's top 10 products. Retrieved June 02, 2016, from
https://www.theguardian.com/technology/2011/oct/06/apple-top-10-products

Who audits....Apple, Google, Facebook, and LinkedIn? - StockKevin. (n.d.). Retrieved June 02,
2016, from http://www.stockkevin.com/2012/09/who-auditsapple-google-facebookand.html#.V1DEccArKUk

Apple Inc. Common Stock (AAPL). (n.d.). Retrieved June 02, 2016, from
http://www.nasdaq.com/symbol/aapl

Apple - Investor Relations - Financial Information. (n.d.). Retrieved June 02, 2016, from
http://investor.apple.com/financials.cfm