Week 5 Final Paper Financial Statement For Toyota
Financial Statement for Toyota
Cory Pelisek
ACC205: Principles of Accounting
Instructor: Theresa Murray
Monday, December 15, 2014
In tough times and good times, you will see Toyota Motor Corp. at the top of the list for automobile manufactures around the World. During the collapse of the United States mortgage industry many businesses and economies around the World started failing and even became bankrupt and needed bailouts to survive. Toyota stayed on par with the big three auto manufactures in the United States without needing help from our federal government like the rest of them did. “Even after becoming the first auto company to make more than 10 million cars in a single year, Toyota Motor Corp. said Tuesday that it would refrain from building any new plants for at least two more years. Nobuyori Kodaira, executive vice president of Toyota, said that the company planned to heed the lessons it learned during the global financial crisis that began in 2007, when it struggled for several years with overcapacity before demand recovered (Pfanner 2014)”. As a result of an economic recession, Toyota’s sales were down in 2008, but the Toyota brand outsold Chevrolet to become the number one selling automotive brand in America, and Camry retained its crown as the number one selling car in the nation for the eleventh time in twelve years.
Toyota also recently passed General Motors in global sales to become the world’s largest automaker for the first time in history; when a company has good financial practices and spending restraints during tough times, they will not only survive tough times, but thrive during them. In order to know where a businesses need to improve, they create income statements. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue. “Liquidity ratio expresses a company 's ability to repay short-term creditors out of its total
Cory Pelisek
ACC205: Principles of Accounting
Instructor: Theresa Murray
Monday, December 15, 2014
In tough times and good times, you will see Toyota Motor Corp. at the top of the list for automobile manufactures around the World. During the collapse of the United States mortgage industry many businesses and economies around the World started failing and even became bankrupt and needed bailouts to survive. Toyota stayed on par with the big three auto manufactures in the United States without needing help from our federal government like the rest of them did. “Even after becoming the first auto company to make more than 10 million cars in a single year, Toyota Motor Corp. said Tuesday that it would refrain from building any new plants for at least two more years. Nobuyori Kodaira, executive vice president of Toyota, said that the company planned to heed the lessons it learned during the global financial crisis that began in 2007, when it struggled for several years with overcapacity before demand recovered (Pfanner 2014)”. As a result of an economic recession, Toyota’s sales were down in 2008, but the Toyota brand outsold Chevrolet to become the number one selling automotive brand in America, and Camry retained its crown as the number one selling car in the nation for the eleventh time in twelve years.
Toyota also recently passed General Motors in global sales to become the world’s largest automaker for the first time in history; when a company has good financial practices and spending restraints during tough times, they will not only survive tough times, but thrive during them. In order to know where a businesses need to improve, they create income statements. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue. “Liquidity ratio expresses a company 's ability to repay short-term creditors out of its total
References: Bloomberg Business week (2014). Toyota Corp income statement. Retrieved from http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=7203: Toyota Motor Corp. (2014). Consolidated Income Statement. Stock Analysis on net. Retrieved from http://www.stock-analysis-on.net/NYSE/Company/Toyota-Motor-Corp/Financial- Wainwright, S. (Ed.). (2012). Principles of Accounting: Volume I. San Diego, CA: Bridgepoint Education, Inc. Yahoo Finance (2014). Toyota Motor Corporation Income Statement. Yahoo Finance. Retrieved from http://finance.yahoo.com