ACCOUNTING FINAL EXAMANTION OF CORPORATE ANNUAL REPORT Research Paper

ACCOUNTING FINAL EXAMANTION OF CORPORATE ANNUAL REPORT - Research Paper Example Comparable store sales were lower in 2010 in comparison with 2009 despite having higher customer traffic. The company made adjustments to increase its profitability by having better inventory management and lower inventory shrinkage. The accounting firm that performed the independent auditor report was Earnest & Young LLP. The auditors did not find any problems or exceptions in the financial statement of the company. The opinion o f the auditing firm is that the financial statements are fairly presented in all materials respects. I did not find any new terms in the financial statements of the company. The annual report included the four major financial statements which are the income statement, balance sheet, statement of cash flow, and statement of stockholder’s equity. I found the presentation of the financial statement to be cleared since the company utilized the standard financial