Apollo Group is a publicly held company and should be used as the basis for this assignment. I suggest you go to www.apollogrp.edu/annual-reports/2007.pdf. The financial statements begin on page 61 with the auditor's report and the notes to the financials begin on page 67 and run through page 103. Prepare a 700-1,050-word response in which you analyze the disclosures contained within the notes to the financial statements related to cash and cash equivalents, receivables, and inventories. Include a list identifying the components of the organization's cash and cash equivalents. Be prepared to discuss this assignment in class.
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The answer is enclosed.
Analyzing of the disclosures contained within the notes to the financial statements with respect to cash and cash equivalents, receivables and inventories.
Cash and cash equivalents include all liquid investments purchased with an original maturity period of three months or less. Cash and cash equivalents include
1. Money market funds
2. Bank overnight deposits
3. Tax exempt commercial paper
The cash and cash equivalents was $ 309 058 ('000) in the year 2006 and it is increased by $ 30 ,261 ('000) to reach the amount of $ 339319 ('000) in the year 2007.All these are made with high credit quality institutions. The Annual Report also discloses that there is no loss experienced in cash and cash equivalents.
The disclosure also contains restricted cash which is received from federal and state government agencies with respect to the students who avail the assistance under Title IV program. US department of education requires that the money received from the students need to be kept in separate fund of cash and cash equivalents until the students are billed for the respective funds. The Apollo has excluded this restricted cash from ...
The answer contains detailed analysis of notes to the financial statements of Appollo with respect to cash and cash equivalents, accounts receivable and inventories.