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Analysis Financial Statement
Analysis of Financial Statements: | Best Buy | By: Ashley Lorenzo08/15/2013Intermediate AccountingProfessor Odonnell |

Table of Contents Introduction ……………………………………………………………………………………………………………….2

Introduction Best Buy is a multinational retailer of consumer electronics. They include mobile phone products, computing, entertainment products, appliances and related services. They operate retail stores and call centers that are very successful.
This report analyzes their financial statements

Best Buy is audited by Deloitte & Touche. Deloitte & Touche believe that Best Buy is in good stands with their financial statement. It is very informative and expresses well the company’s fiscal year. On November 2, 2011, the board of directors approved the change of the fiscal year-end form the Saturday nearest the end of February to the Saturday nearest the end of January, which will begin with the fiscal year 2013. Due to the fact it was changed the fiscal year for 2013 will be 11 months.

During the fiscal year of 2012 there was a net loss of $1.2 billion for total operations which included continuing and discontinuing operations. Revenue increased 1.9% ($50.7 billion) the increase was motivated by the addition of 253 new stores.

Analysis of Assets & Liabilities
Assets

On March 3, 2012, Best Buy had approximately $16 billion in total assets. Of approximately $10.2 billion in current assets, the company had approximately $1.2 billion in cash and equivalents, $2.2 billion in receivables, and $5.7 billion in inventories. Best Buy had $5.7 billion in non-current assets, $3.59 million in fixed assets, and $359 million in intangible assets. The largest assets for the fiscal year of 2012 are inventory with a total of $5.7 billion, property plant and equipment with $3.47 billion, and receivables with $2.28 billion.
Liabilities

As of July 31, 2012, Best Buy had approximately $12.26 billion in total liabilities. This includes

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