You have been recognized as an expert on financial analysis. As such, you have been hired to conduct a review of a company’s latest consolidated financial statement and make recommendations to leadership based upon your findings.
Select a consolidated financial statement from your research in Week 4.
Write a 1,050- to 1,400-word proposal in which you:
Analyze the consolidated financial statement selected.
Recommend specific actions to leadership based on your findings.
Cite 3 peer-reviewed, scholarly, or similar references to support your paper.
Format your assignment according to APA guidelines
Financial Reporting Problem: Apple Inc.CT7.1 The financial statements of Apple Inc. are presented in Appendix A. The complete annual report, including the notes to its financial statements, is available at the company’s website.
Using the financial statements and reports, answer these questions about Apple’s internal controls and cash.
a. What comments, if any, are made about cash in the “Report of Independent Registered Public Accounting Firm”?
b. What data about cash and cash equivalents are shown in the consolidated balance sheet (statement of financial position)?
c. What activities are identified in the consolidated statement of cash flows as being responsible for the changes in cash during 2017?
d. How are cash equivalents defined in the Notes to Consolidated Financial Statements?
e. Read the section of the report titled “Management’s Report on Internal Control Over Financial Reporting.” Summarize the statements made in that section of the report.