select two public companies of different industries that interest you. (Apple & Facebook) Obtain each company’s most recent annual report on Form 10-K. The Form 10-K is a company’s annually required filing with the Securities and Exchange Commission (SEC). It includes the company’s financial statements and accompanying notes. The Form 10-K can be obtained either (A) from the investor relations section of the company’s Web site or (B) by using the company search feature of the SEC’s EDGAR database service found at www.sec.gov/edgar/searchedgar/companysearch.html.
Find the balance sheet for each of the two companies you have selected. Compare the balance sheets of the two companies as follows:
- What is each company’s fiscal year?
- Which balance sheet accounts do the two companies have in common?
- Which balance sheet accounts stand out as different between the two companies? Why do these differences exist?