Annual REport Analysis

Topics: Income statement, Balance sheet, Generally Accepted Accounting Principles Pages: 2 (1309 words) Published: November 2, 2014
Annual Report Analysis On Home Depot, Inc. Fiscal Year 2012 DeVry University Intermediate Accounting Yvonne Jackson Introduction Home Depot, Inc., founded in 1978 by Bernie Marcus and Arthur Blank, decided to team up with investment banker Ken Langone and merchandising guru Pat Farah ultimately became the visionaries for the one-stop-shop do-it-yourself store which today has become a very lucrative business bring the vision to fruition. The Home Depot is the worlds largest home improvement retailer based upon reported 4.5billion in net sales for the fiscal year 2012. Home Depot has more than 2,200 locations throughout the United States and now has expanded across the globe with stores located in territories of the U.S. Virgin Island, Guam, Canada, Puerto Rico, Mexico and reaching as far as China. Stores averaging 105,000 square feet with approximately 23,000 additional square feet outside garden area inventory consist up to 40,000 different kinds of building materials, home improvement supplies and equipment to also include appliances along with lawn and garden products and equipment for just about every imaginable project need. Home Depot offers competitive prices with a guarantee they can beat anyones advertised specials. Among other offers, Home Depot offers home services such as contractor services, home services, free how-to-clinics and a free childrens how-to-clinic offering ideas that can range from simple to complex ideas. Report IReporting and Auditors Financial statements presented in the 2012 annual report has been compiled in accordance with the U.S. generally accepted accounting principles (GAAP) and properly reflects financial information that was provided. The financial statement for Home Depot has been audited by KPMG, LLP which is an independent registered public accounting firm. Their accompany report is based upon an audit conducted in accordance with the Standards of the Public Company Accounting Oversight Board (United States)....
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