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. To access Apple’s Form 10‐K, including notes to the financial statements, follow these steps:
1.Go to http://investor.apple.com.
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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