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Essay / Research Paper Abstract
This 6 page paper examines the financial performance of Microsoft for financial years 2008 and 2009, using ratio analysis to look at profitability, efficiency and liquidity. The bibliography cites 5 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TE09micro.rtf
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Unformatted sample text from the term paper:
These will make comparisons between items which appear on the profit and loss statement or the balance sheet. The reliability and usefulness of the ratios will depend on many factors,
including the way in which the ratios are put together as a result of the underlying accounting practices it should also be noted that they are also historical in nature
by the time that they are presented, and that many other factors should be considered when assessing a firm as well as its historical data, for example, in the annual
accounts in the years preceding the failure of Enron, it was not obvious, therefore when making an investment decision ratio analysis should only a part of an assessment (Howells and
Bain, 2007). All Microsoft figures and ratios are taken from the 2009 accounts, comparison are made to the industry with figures from MSN Money, Looking at Microsoft, founded in
1975, by two college friends; Bill Gates and Paul Allen, the firm has grown to become a dominant firm in the supply of computer technology, and with the recent release
of Window 7 the firm is moving ahead (Lesinski, 2006). Looking at the latest set of accounts; 2009, the performance of the firm may be assessed. One of the
first ratios is that of the gross profit margin. The gross margin is expressed as a percentage. This is the level of revenue that remains when all of the direct
costs for producing the goods or services are deducted form the revenue. This indicates the level at which direct costs account take up revenue. It is notable that 2009
saw a declining level of income, with revenues falling to $58,437 from $60,420 for 20081. However, as costs increase, from $11,598-$12,155 the decrease in the gross profit is not unexpected,
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