Inter Acct II Course Project
DEVRY UNIVERSITY
Comcast Corporation
Financial Analysis of 2013 Annual Reports
Intermediate ACCT II project
6/15/2014
Analysis by Page
Table of Contents
Introduction
The Comcast Corporation is the largest cable and home internet provider in the United States. The company functions as a cable provider and ISP, including telephone services for residential and commercial customers throughout the US. This makes Comcast a central focus for both customer and competitor criticism and deserves serious financial analysis and inquires.
Comcast recently stating the company was looking to invest in acquiring its competitor Time Warner Cable has brought the company to the attention of many financial firms considering the possible domination the company could holder over its industry. This analysis will be used as a mean of reviewing the financial standing of the Comcast Corporation and analyze these resources the company has at hand.
Property and Equipment
Figure 1: Property and Equip Details
The amount of property and equipment the company has on file for the years for 2013 and 2012 are $72, 414 and $66,657 respectively. The property and equipment are stated at cost. The depreciation is computed using the straight-line method and the recorded accumulated depreciation for 2013 was $42,574. Comcast capitalizes the costs associated with improvements that extend asset lives and expense repairs and maintenance cost as incurred (Comcast Corporation Annual Report on Form 10-K, 2013).
These capitalized costs are associated with the new construction and improvements to their cable transmission and distribution facilities and new service installations, including direct labor and materials. They capitalize initial customer installation costs that are directly attributable to installation of the product, including material, labor and overhead costs, in accordance with accounting guidance related to cable television companies (Comcast Corporation
Comcast Corporation
Financial Analysis of 2013 Annual Reports
Intermediate ACCT II project
6/15/2014
Analysis by Page
Table of Contents
Introduction
The Comcast Corporation is the largest cable and home internet provider in the United States. The company functions as a cable provider and ISP, including telephone services for residential and commercial customers throughout the US. This makes Comcast a central focus for both customer and competitor criticism and deserves serious financial analysis and inquires.
Comcast recently stating the company was looking to invest in acquiring its competitor Time Warner Cable has brought the company to the attention of many financial firms considering the possible domination the company could holder over its industry. This analysis will be used as a mean of reviewing the financial standing of the Comcast Corporation and analyze these resources the company has at hand.
Property and Equipment
Figure 1: Property and Equip Details
The amount of property and equipment the company has on file for the years for 2013 and 2012 are $72, 414 and $66,657 respectively. The property and equipment are stated at cost. The depreciation is computed using the straight-line method and the recorded accumulated depreciation for 2013 was $42,574. Comcast capitalizes the costs associated with improvements that extend asset lives and expense repairs and maintenance cost as incurred (Comcast Corporation Annual Report on Form 10-K, 2013).
These capitalized costs are associated with the new construction and improvements to their cable transmission and distribution facilities and new service installations, including direct labor and materials. They capitalize initial customer installation costs that are directly attributable to installation of the product, including material, labor and overhead costs, in accordance with accounting guidance related to cable television companies (Comcast Corporation
Cited: Comcast Corporation Annual Report on Form 10-K (2013). 2013 annual report of Comcast Corporation. Retrieved from: http://files.shareholder.com/downloads/CMCSA/3251930945x0xS1193125-1447522/1166691/filing.pdf Spiceland, J. D., Sepe, J. F., & Nelson, M. W. (2013). Intermediate Accounting (Sixth Edition). New York: McGraw - Hill / Irwin.