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Apollo Group is a publicly held company and should be used as the basis for this assignment. I suggest you go to http://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 response analyzing 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.© BrainMass Inc. brainmass.com May 20, 2020, 8:34 pm ad1c9bdddf
The disclosures for cash, cash equivalents, receivables, and inventory will be primarily in three places. First, there are some disclosures on the face of the financial statements. Since all of these are assets, we will notice these disclosures on the balance sheet. The second place we may find information disclosed on these assets is in the summary of accounting policies footnote. This is the first footnote after the statements. Finally, the third place we may find details disclosed about these amounts will be in an individual footnote dedicated to these items. Whether these items will have a dedicated footnote will depend on the significance of the balance (big enough to be material) and any unusual activity that might need further explaining to help the reader understand the company's assets.
Apollo's cash and cash equivalents on the Balance Sheet for the year ended August 31, 2007, shows $339,319. This is a large amount as a percent of assets (almost a forth of total assets). If the line item on the statement was just "cash," we would not expect to see much more disclosure as cash is pretty straight forward. However, the line item includes ...
Your tutorial is 719 words and discusses Apollo's disclosures surrounding cash, receivables and inventory for the year ended August 31, 2007. Apollo's 2007 annual report is attached for your convenience.