How Did Starbucks Report Starting In Fiscal 2012
MIM517
Starbucks Assignment Week 1
Fall 2013
Objective: To ensure that you are familiar with the main components of a U.S. Financial Statement
References: Starbucks 10K printed as a pdf (not html) file; Textbook chapters 14, 1, 2, 3, 5, 6
Required: Working in groups of 2-3, answer the following questions using Starbucks 2012 10K. Also note the page number where you found each item.
1. Find and read the description of Starbucks’ business in Item 1 of the 10K.
a. What are Starbucks’ primary lines of business?
b. What segments did Starbucks report prior to fiscal 2012?
c. What segments does Starbucks report starting in fiscal 2012?
d. What percentage of revenue came from each segment in fiscal 2012?
e. What risk factors does Starbucks identify?
2. What four financial statements are included in the 10K?
3. What measures of company size are available for Starbucks in the:
a. Description of business
b. Income statement
c. Balance sheet
d. Anywhere else you could think of? …show more content…
Accounting involves the use of estimates and judgment. According to the MD&A, what are the primary areas of accounting most affected by estimates and judgment?
6. Identify each of the following reports. What is the purpose of each report and who signs each report?
a. Report of Independent Auditors on the Financial Statements
b. Report of the Independent Auditors on Internal Controls
c. Management’s report on Internal Controls over Financial Reporting
7. What basis of accounting (i.e., what GAAP) is used by Starbucks?
8. What is Starbucks’ fiscal year end? Do you notice anything unusual about the year end?
A: Starbucks’ fiscal year ends on the Sunday closet to September 30th. Fiscal years 2012 and 2011 included 52 weeks. Fiscal year 2010 included 53 weeks, with the 53rd week falling in the fourth quarter. It means the fiscal year could be movable.
9. What is the title and purpose of footnote
Starbucks Assignment Week 1
Fall 2013
Objective: To ensure that you are familiar with the main components of a U.S. Financial Statement
References: Starbucks 10K printed as a pdf (not html) file; Textbook chapters 14, 1, 2, 3, 5, 6
Required: Working in groups of 2-3, answer the following questions using Starbucks 2012 10K. Also note the page number where you found each item.
1. Find and read the description of Starbucks’ business in Item 1 of the 10K.
a. What are Starbucks’ primary lines of business?
b. What segments did Starbucks report prior to fiscal 2012?
c. What segments does Starbucks report starting in fiscal 2012?
d. What percentage of revenue came from each segment in fiscal 2012?
e. What risk factors does Starbucks identify?
2. What four financial statements are included in the 10K?
3. What measures of company size are available for Starbucks in the:
a. Description of business
b. Income statement
c. Balance sheet
d. Anywhere else you could think of? …show more content…
Accounting involves the use of estimates and judgment. According to the MD&A, what are the primary areas of accounting most affected by estimates and judgment?
6. Identify each of the following reports. What is the purpose of each report and who signs each report?
a. Report of Independent Auditors on the Financial Statements
b. Report of the Independent Auditors on Internal Controls
c. Management’s report on Internal Controls over Financial Reporting
7. What basis of accounting (i.e., what GAAP) is used by Starbucks?
8. What is Starbucks’ fiscal year end? Do you notice anything unusual about the year end?
A: Starbucks’ fiscal year ends on the Sunday closet to September 30th. Fiscal years 2012 and 2011 included 52 weeks. Fiscal year 2010 included 53 weeks, with the 53rd week falling in the fourth quarter. It means the fiscal year could be movable.
9. What is the title and purpose of footnote