Executive Summary of Microsoft Corporation's Annual Report
Executive Summary of Microsoft Corporation
ACC/280
Executive Summary The purpose of this executive summary is to analyze the most recent financial statements for Microsoft Corporation. First some of the major events in the history of the company will be identified. The company's financials, including the income statement, balance sheet, and statement of cash flows will be analyzed. This includes the company's assets, liabilities, revenue, and net income. Last a comparison provides how net income for the organization changed over the last three fiscal periods.
Company History: When was the Company Founded? By Whom? List Other Historical Facts.
Microsoft Corporation, founded by Chair Bill Gates and Paul Allen, Senior Strategy
Advisor, in 1975, has been responsible for many technological breakthroughs. The duo's
first major breakthrough into the industry was the development of BASIC, the first personal
computer language designed for the Altair computer (Microsoft News Center, 2011). In 1980,
former classmate of Bill Gates at Harvard University Steve Ballmer (currently chief executive
officer) was hired to aid in running the company (Microsoft, 2011). In 1981, Microsoft released
the operating system MS-DOS for the IBM PC. From there, a constant stream of innovation took
place with the release of Windows 1.0 in 1985, which eliminated the confusing MS-DOS
command prompt (Microsoft, 2011). The ease of use, speed, security services, Internet, and
much more has continued to improve with the times and will continue to evolve. The Microsoft
Office suite, introduced in 1989 (Microsoft News Center, 2011), is another huge breakthrough
constantly improved and widely used for both personal and business purposes.
Who is the Audit Firm for the Company?
The audit firm for Microsoft Corporation, Deloitte & Touche LLP, conducts their audits
under the standards of the Public Company Accounting Oversight Board (Microsoft,
2010). Deloitte & Touche
ACC/280
Executive Summary The purpose of this executive summary is to analyze the most recent financial statements for Microsoft Corporation. First some of the major events in the history of the company will be identified. The company's financials, including the income statement, balance sheet, and statement of cash flows will be analyzed. This includes the company's assets, liabilities, revenue, and net income. Last a comparison provides how net income for the organization changed over the last three fiscal periods.
Company History: When was the Company Founded? By Whom? List Other Historical Facts.
Microsoft Corporation, founded by Chair Bill Gates and Paul Allen, Senior Strategy
Advisor, in 1975, has been responsible for many technological breakthroughs. The duo's
first major breakthrough into the industry was the development of BASIC, the first personal
computer language designed for the Altair computer (Microsoft News Center, 2011). In 1980,
former classmate of Bill Gates at Harvard University Steve Ballmer (currently chief executive
officer) was hired to aid in running the company (Microsoft, 2011). In 1981, Microsoft released
the operating system MS-DOS for the IBM PC. From there, a constant stream of innovation took
place with the release of Windows 1.0 in 1985, which eliminated the confusing MS-DOS
command prompt (Microsoft, 2011). The ease of use, speed, security services, Internet, and
much more has continued to improve with the times and will continue to evolve. The Microsoft
Office suite, introduced in 1989 (Microsoft News Center, 2011), is another huge breakthrough
constantly improved and widely used for both personal and business purposes.
Who is the Audit Firm for the Company?
The audit firm for Microsoft Corporation, Deloitte & Touche LLP, conducts their audits
under the standards of the Public Company Accounting Oversight Board (Microsoft,
2010). Deloitte & Touche
References: Microsoft (2010). Annual Report 2010. Retrieved from http://www.microsoft.com/investor/reports/ar10/10k_sl_eng.html Microsoft (2011). A History of Windows: Highlights from the first 25 years. Retrieved from http://windows.microsoft.com/en-US/windows/history Microsoft News Center (2011). Microsoft Fast Facts: 1975. Retrieved from http://www.microsoft.com/en-us/default.aspx Microsoft News Center (2011). Facts About Microsoft. Retrieved from http://www.microsoft.com/presspass/inside_ms.mspx * Microsoft. (2010). Microsoft annual report 2010. Balance sheet (p. 36.) | | | | | | | | |