Question

Access the Securities and Exchange Commission. website or another site to find the most recent 10-K...

Access the Securities and Exchange Commission. website or another site to find the most recent 10-K filing for a company of your choice. Locate the financial statements and related notes.

Describe the company’s depreciation method.

How does the company value its property, plant, and equipment?

What amount of depreciation did the company report?

What depreciation method is used for financial reporting purposes, and what are the service lives of depreciable assets?

Call out the pages and site used from the 10-K to make the assessments.

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Homework Answers

Answer #1

Company Selected : Apple Inc.

a. Company's Depreciation Method: Depreciation of PPE is provided on a Straight Line Basis over the useful life of the Assets.

As per Straight Line Method, Depreciation(Annual)(Page 45) = (Cost-Salvage)/Useful Life

b. Company's Valuation Criteria: Valuation is generally done on the basis of Fair Values of assets. Fair values is tested every year end for any impairment.

c. Depreciation Expense Annual : $9.3 Billion (Page 45)

d. Depreciation Method and Service Lives of Depreciable Assets(Page: 45): Method Used is Straight Line and and Service Lives of Depreciable Assets is as follows:

-Building : 30 years

-Machinery and Equipment: 1-5 years

-Internal Software - 3-5 Years

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