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Essay / Research Paper Abstract
A 4 page paper examining the most recent annual reports of Nike and Reebok. These two companies will continue to be direct competitors in their industry following Adidas' acquisition of Reebok in the first part of 2006. Nike continues to lead the industry, even after Adidas and Reebok combine to form the world's second-largest supplier of athletic shoes and related equipment. Annual reports are similar and show a great deal more detail in the wake of Sarbanes-Oxley. Bibliography lists 6 sources.
Page Count:
4 pages (~225 words per page)
File: CC6_KSacctNikeRee.rtf
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Unformatted sample text from the term paper:
and Reebok will continue to be direct competitors in their industry following Adidas acquisition of Reebok in the first part of 2006. Nike continues to lead the industry, even
after Adidas and Reebok combine to form the worlds second-largest supplier of athletic shoes and related equipment. Nike Cofounded by Philip H. Knight
in 1964, Nikes earliest efforts consisted of designing an athletic shoe that would prove to initiate sweeping change in the shoe industry. Today, Nike still does not directly manufacture
any product but it designs and markets far more than only athletic shoes. The company provides athletic shoes for a broad range of applications and also markets athletic wear,
casual wear, specialty sports equipment, sports accessories and other similar product classes. Nike operates nearly 200 retail stores in the United States and abroad (Nike, 2006). Its auditing
company is PricewaterhouseCoopers (Form 10-K for NIKE INC, 2005). Financial Statements The four financial statements found in the annual report (2005) are headed:
Consolidated Statements of Income; Consolidated Balance Sheets; Consolidated Statements of Cash Flows; and Consolidated Statements of Shareholders Equity. The income statement contains year-end information for 2003, 2004 and 2005.
Beginning with annual revenues, this statement deducts gross divisions of expenses to arrive at net income, which doubled from 2003 to 2004 and increased 22 percent from 2004 to
2005. The statement ends with dividends per common share and a change in 2003 attributable to an accounting change during that year.
The Consolidated Balance Sheet lists assets and liabilities for 2004 and 2005, and makes numerous references to footnotes. Items so referenced include inventories, income taxes, facilities, intangibles, goodwill, deferred
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