Course Project Acct 312

4052 words 17 pages
FINANCIAL
STATEMENT
ANALYSIS
OF
APPLE INC.
INTERMAITE ACCOUNTING 312
PROFESSOR BRODERICK MARTINEZ
BY: MURTAZA MOIZ

TABLE OF CONTENT
Cover Page Pg. 1
Table of Contents Pg. 2
Introduction Pg. 3
History Pg. 3
Financial Statement Breakdown Pg. 4
Conclusion
…show more content…
Deferred revenue is recorded when the company receives payments of their products in advance or for the performance of services. It includes amount for unspecified and specified software upgrade rights and non-software services that are attached to the products of the company.
It is disclosed in the footnotes that Deferred tax assets and liabilities shows the effects of tax losses, credits, and the future income tax effects of temporary differences between the consolidated statements carrying amounts of existing assets and liabilities and their respective tax bases and are measured using enacted tax rates that apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The definition of Deferred Tax Asset is taxes to be saved in the future when future deductible amounts reduce taxable income (when the temporary differences reverse). And Deferred Tax Liability is taxes to be paid in the future when future taxable amounts become taxable (when the temporary differences reverse). The provision for

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