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Analysis of Annual Audited Report for Boeing Corporation
Finance & Accounting
Pages 6 (1506 words)
Analysis of Annual Audited Report for Boeing Corporation Name of the Writer Professor T. Saracina MGMT 210 Financial Accounting Embury Riddle Aeronautical University Date Submitted Analysis of Annual Audited Report for Boeing Corporation Introduction Boeing is one of the world’s largest aerospace companies, defense contractors and aircraft manufacturers.
Over its eventful history, the company has been responsible for a number of innovations like the Boeing B-1, B-8 and Monomail, Model C, Boeing 80 and the 737. Boeing earned a profit of $4.018 billion for the year ended December 30, 2011 and had total assets of $79.986 billion on the same date. Since 2005, the company’s Chairman, President and CEO have been W. James McNerney Jr. The company has a total of 164,545 employees worldwide and the top 1.5 % of them go through the Technical Fellowship program, which sets the technical direction for the company. We will now move on to the analysis of Boeing’s financial statements as given in their Audited Annual Reports for 2011. Their accounts have been audited by Deloitte & Touche LLP, one of the Big Four accounting firms in the world. The report is unqualified and this means that Boeing Company has met the financial standards for record keeping and presentation as required by the FASB and other relevant authorities. Analysis of Net Income and Cash Flows According to the financial statements for the year ended 30 December 2011, Boeing has reported net income from sales of products and services for fiscal year 2011 of $ 4.018 billion. ...
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