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What are the responsibilities of the auditors

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Reference no: EM132001345

Problem - For the Annual Report Assignment you must first locate the annual audited financial statements of Microsoft Corporation for the year ended June 30, 2013. You can locate the financial statements by searching the internet for the website entitled "Microsoft Investor Relations Home Page".

Required: Using the June 30, 2013 audited financial statements and other information at this website, please answer questions # 1 through and including # 4 below:

1. Who is responsible for preparation of financial statements? How is this responsibility fulfilled?

2. What are the responsibilities of the auditors and how do they fulfill their responsibilities? Which audit firm performs the audit of the company?

3. What is the main business of the company?

4. Compute the following ratios or amounts:

1. The rate of return on shareholders' equity for 2013

2. The debt to equity ratio at June 30, 2013

3. The accounts receivable turnover for 2013.

4. The net profit margin for 2013.

5. The net change in cash flows for 2013.

6. The amount of common stock cash dividends paid in 2013.

7. The gross profit ratio for 2013.

Reference no: EM132001345

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