ANNUAL REPORT ANALYSIS
my responsibility is in the highlighted areas It will need to be about 700 words and it %100 ORIGINAL! here are the links to the annual reports for DTE Energy.
2010 annual report: http://www.dteenergy.com/dteEnergyCompany/investors/pdfs/michCon8K2010.pdf
here is the link for the past reports. http://www.dteenergy.com/dteEnergyCompany/investors/reportsFilings/michConReports.html
i also attached the last 2 bullets that are already done
Learning Team
Financial Reporting Problem, Part 2 Access the Internet to acquire a copy of the most recent annual report for the publicly traded company used to complete the Financial Reporting Problem, Part 1 assignment due in Week Four.
Analyze the information contained in the company- balance sheet and income statement to answer the following questions:
• Are the assets included under the company- current assets listed in the proper order? Explain your answer.
• How are the company- assets classified?
• What are cash equivalents?
• What are the company- total current liabilities at the end of its most recent annual reporting period?
• What are the company- total current liabilities at the end of the previous annual reporting period?
• Considering all the information you have gathered, why might this information be important to potential creditors, investors, and employees?
Summarize the analysis in a 950-1,050 word paper in a Microsoft® Word document.
Include a copy of the company- balance sheet and income statement.
Format your paper and presentation consistent with APA guidelines.
2009 Total liabilities
In year 2009 Michcon recorded a total of $735 million in current liabilities. 2010 saw a major drop to major drop to $578 million. This decrease was primarily due to short-term borrowings from affiliates, which showed a decrease from $327 million in 2009 to $150 million in 2010(Consolidated Financial Statements, 2010). That is over half the original debt. Accounts payable did increase from $21 million in 2009 to $24 million in 2010, but most other liabilities decreased throughout the year. The long-term debt is $889 million in both 2009 and 2010. Other liabilities, which include deferred income, regulatory liabilities, pensions, and retirement obligations, were at $1.431 billion in 2009 and showed in increase to $1.471 billion in 2010. That is a total increase of $40 million within that accounting year. The single most increased liability within this category is deferred income taxes which increased $91 million throughout the year (Consolidated Financial Statements, 2010).
Users of Annual Reports
The information collected and analyzed from Michcon- 2010 annual report is very important to both inside and outside users. Internal financial officers are interested in the cash and cash equivalents to know if there is enough on hand to pay dividends to the company- stockholders (Kimmel, Weygandt, & Kieso, 2011). Also, internal accountants need to know how much cash is available to pay off liabilities verse paying bills on account. Creditors are extremely interested in the current liabilities section of the annual report to see how Michcon- debt situation is looking. Decreases in borrowed loans or liabilities are a positive outlook for creditors. The investment report is important to other investors because they are interested in what the company is doing with retained income. For example: is Michcon investing in long term or short-term investments, and does that meet the investor- needs. Basically, this annual report is a way to communicate the financial happenings during Michcon- 2010 accounting year. Both internal and external users will analyze this report to make finance decisions
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