Both The Microsoft Corporation and Apple Computers, Inc. have become names with which the public is familiar. Both companies have many divisions, and both must manage extensive assets and liabilities. Since both companies report large amounts of income, the matter of accounting checks and balances becomes more complicated than many smaller companies, but equally as important. Financial reports and the audits of these reports are public information and serve to provide a process to decrease errors and omissions and questionable accounting practices.
History of Microsoft and Apple
Microsoft. The idea of Microsoft was born in the minds of Bill Gates and Paul Allen while Bill Gates was still in college at Harvard in 1975. By the end of 1975, a company was created with three employees, including Gates and Allen. On November 26, 1976, Microsoft was officially born (although the application stated it had been in continuous use since November of 1975). Gates and Allen shared the top title until 1977, when Gates became President and Allen became Vice President of Microsoft. By this time, Microsoft has nine employees with revenues of over $381,000 for the year. In 1979, they moved their headquarters from Albuquerque, New Mexico to Bellevue, Washington and later to Redmond, Washington. It was also during this time that Microsoft moved into the European markets and signed Vector International from Belgium to represent Microsoft.
In 1986, Microsoft’s first initial public stock offering was in March of 1986. The stock closed at $27.75 per share. This has made four top executives billionaires and over 12,000 of Microsoft’s employee’s millionaires. Microsoft’s stock symbol is NasdaqGS: MSFT. Microsoft develops, manufactures and licenses computer software and computer hardware along with publishing, video games and research and development. Microsoft’s sales at the end of its fiscal year 2008... [continues]
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