Sony Corporation Financial Statement
Introduction
Sony Corporation is a global wonder, the main headquarters for them are based in Japan. They offer many different electronics, games, movies, music, network services, and financial services businesses. Sony corporation also has a joint venture in mobile phones with Sony Ericsson. Sony Corporation has plants, warehouses and stores in many different countries including the U.S. This review of Sony Corporation’s financial statements will show how well this company has done in repairing and building their company back up since the devastating tsunami in 2011.
What is the amount of property and equipment on the balance sheet for the two most recent years?
In 2010 and 2011 Sony Corporation had 3,356,395 (Millions in Yen) and 3,084,758 respectively in land, buildings, machinery, equipment and construction in progress. The depreciation expense is very high totaling 2,348,444 in 2010 and 2,159,890 in 2011. What amounts are on the cash flow statement for the most recent year that relate to depreciation and gains and sales of property and equipment? Sony had a very high depreciation expense in 2011 affecting their cash flows by 325,366. The gains on all of their sales of property and equipment totaled 20,106. What amounts are permitted for inclusion in the capitalized cost of property and equipment? Only 10,958 is included for capitalized costs of property and equipment.
Looking at the footnote disclosures of the company, what are the individual components of property and equipment? Sony recorded restructuring charges of 62,318 million Yen to revamp and repair buildings that we damaged in the tsunami. Property plant and equipment is recorded at cost and depreciated by the declining balance. Only one manufacturing factory and its equipment are depreciated by the straight line method. Sony also has goodwill in the amount of 40,774 for property and equipment. How do companies account for nonmonetary exchange and dispositions of property and equipment?
Sony Corporation is a global wonder, the main headquarters for them are based in Japan. They offer many different electronics, games, movies, music, network services, and financial services businesses. Sony corporation also has a joint venture in mobile phones with Sony Ericsson. Sony Corporation has plants, warehouses and stores in many different countries including the U.S. This review of Sony Corporation’s financial statements will show how well this company has done in repairing and building their company back up since the devastating tsunami in 2011.
What is the amount of property and equipment on the balance sheet for the two most recent years?
In 2010 and 2011 Sony Corporation had 3,356,395 (Millions in Yen) and 3,084,758 respectively in land, buildings, machinery, equipment and construction in progress. The depreciation expense is very high totaling 2,348,444 in 2010 and 2,159,890 in 2011. What amounts are on the cash flow statement for the most recent year that relate to depreciation and gains and sales of property and equipment? Sony had a very high depreciation expense in 2011 affecting their cash flows by 325,366. The gains on all of their sales of property and equipment totaled 20,106. What amounts are permitted for inclusion in the capitalized cost of property and equipment? Only 10,958 is included for capitalized costs of property and equipment.
Looking at the footnote disclosures of the company, what are the individual components of property and equipment? Sony recorded restructuring charges of 62,318 million Yen to revamp and repair buildings that we damaged in the tsunami. Property plant and equipment is recorded at cost and depreciated by the declining balance. Only one manufacturing factory and its equipment are depreciated by the straight line method. Sony also has goodwill in the amount of 40,774 for property and equipment. How do companies account for nonmonetary exchange and dispositions of property and equipment?
References: Spiceland, J. David. Intermediate Accounting. 6. VitalSource Bookshelf. McGraw-Hill Learning Solutions, 2011, Sunday, June 10, 2012. Author unknown. Retrieved from http://www.cliffsnotes.com/study_guide/Bonds-Payable.topicArticleId-21248,articleId-21182.html Saturday June 9,2012 Author unknown. Retrieved from http://www.businessdictionary.com/definition/capital-lease.html Saturday June 9, 2012