Financial Statements. Generally Accepted Accounting Term Paper

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MICROSOFT: No terrorist is going to try to blow up Microsoft; no oil products are needed to run computer hardware and software; computers run the world of commerce; and Bill Gates owns a huge percentage of all things computer software-related, so the Microsoft steamroller is a great investment and not as vulnerable to world conditions as are the first two companies reviewed in this section.

One final conclusion: for EXXONMOBIL, albeit their fortunes can change because of the war and oil's vulnerability to war, their earnings for the 4th quarter of 2004 were their highest ever ($8,420 million), and they have friends in the White House in Bush and Cheney, so their financial picture remains very bright; for FORD, they experienced a $5 billion pre-tax profit from their "financial services" (auto loans) division, which is very impressive; moreover, car sales are booming and Ford will, in the near future, realize additional sales from their "hybrid" car, so they remain a blue-chip stock in anyone's book. And as for the MICROSOFT picture, they raked in record revenue of $10.82 billion for the quarter ending December 31, 2004 (their fiscal years begins July 1), which was a 7% increase over the previous year's 4th Quarter results. This is a financial colossus, and it won't be...

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What Are Generally Accepted Accounting Principles? Retrieved February 8, 2005, at http://www.allbusiness.com/articles/content/17954.asp.
Anderson, Curt. (2005). Microsoft Reports Record Revenue and Earnings. Retrieved February 9, 2005 from Microsoft Investor Relations Web site: http://www.microsoft.com/msft.

Bruebaker, Gary H. (1999). A Question of Value. Government Finance Review, 15(3),

Ensman, Richard G. (1999). Accrual Basis vs. Cash Basis Accounting. Doors and Hardware, 63(10), 20-22.

Hanks, Vince. (2000). Noncurrent Assets: Back to Basics, Part 4. TheMotleyFool.com.

Retrieved February 9, 2005, at http://www.fool.com/Server/FoolPrint.asp?File=/dripport/2000/dripport000127.htm.

Hubble, Henry H. (2005). Exxon Mobil Corporation Announces Estimated Fourth

Quarter and 2004 Results. Retrieved February 9, 2005, from ExxonMobil Web site: http://www.exxonmobil.com.

Ray, Glenn. (2005). Ford Reports 2004 Net Income of $3.5 Billion, or $1.73 per share;

Fourth-Quarter Net Income of $104 Million, or 6 Cents Per Share. Retrieved February

9, 2005, from Ford Motor Company Web site: http://www.media.ford.com.

Sources Used in Documents:

References

AllBusiness (2005). What Are Generally Accepted Accounting Principles? Retrieved February 8, 2005, at http://www.allbusiness.com/articles/content/17954.asp.

Anderson, Curt. (2005). Microsoft Reports Record Revenue and Earnings. Retrieved February 9, 2005 from Microsoft Investor Relations Web site: http://www.microsoft.com/msft.

Bruebaker, Gary H. (1999). A Question of Value. Government Finance Review, 15(3),

Ensman, Richard G. (1999). Accrual Basis vs. Cash Basis Accounting. Doors and Hardware, 63(10), 20-22.
Retrieved February 9, 2005, at http://www.fool.com/Server/FoolPrint.asp?File=/dripport/2000/dripport000127.htm.
Quarter and 2004 Results. Retrieved February 9, 2005, from ExxonMobil Web site: http://www.exxonmobil.com.
9, 2005, from Ford Motor Company Web site: http://www.media.ford.com.


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