_______________________ 1. THE ANNUAL REPORT WILL CONTAIN SEVERAL SECTIONS: FINANCIAL HIGHLIGHTS. This section provides a summary of selected…

ASSIGNMENT 2                                    OVERVIEW OF ANNUAL REPORT          Completed byReviewed byAnnual Report Date: _______________________ 1. THE ANNUAL REPORT WILL CONTAIN SEVERAL SECTIONS: a. FINANCIAL HIGHLIGHTS. This section provides a summary of selected financial results over a number of years. You may find two schedules providing highlights: one brief summary near the front of the annual report and a more detailed summary in the financial section.This second schedule may be called Five-Year Summary of Selected Financial Data.Note its page number here.  Page(s) ______ b. THE CHAIRMAN’S LETTER. This letter provides the chairman’s overview of the past year and developments which will affect the next year. You will review this letter below. Page(s) ______ c. THE COMPANY, ITS PRODUCTS, ITS EMPLOYEES. This section may contain a number of color photographs and will highlight the products and accomplishments of the company. Pages_______ d. MANAGEMENT DISCUSSION AND ANALYSIS. This section discusses operating results, industries in which the company operates, financing and investing activities, significant events, trends and developments. Page(s)________ e. THE FINANCIAL STATEMENTS AND NOTES TO THE FINANCIAL STATEMENTS.This section contains the four financial statements introduced in chapter 1. The accompanying notes, as indicated at the bottom of each of the above statements, are an integral part of the financial statements. The financial statements cannot be understood without reference to the notes.  The financial statements and accompanying notes will be the focus of your Annual Report Project.Income Statement                                                                            Page______Balance Sheet                                                                                  Page________Statement of Stockholder’s Equity                                                 Page______Statement of Cash Flows                                                                 Page______ Notes to the financial statements:Summary of significant accounting policies             Note #_____ Page_______Inventories                                                                  Note #_____ Page_______Plant assets                                                                 Note #_____ Page_______Long-term debt                                                           Note #_____ Page_______Income taxes                                                              Note #_____ Page_______Employee benefit plans                                             Note #_____ Page_______Commitments and contingencies                              Note #_____ Page_______ f. MANAGEMENT REPORT ON INTERNAL CONTROL    Page_______ g. THE INDEPENDENT AUDITOR’S REPORT:REPORT ON INTERNAL CONTROL                         Page_______ REFERENCE  https://www.microsoft.com/en-us/Investor/annual-reports.aspx Accounting Business Financial Accounting AC 116

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