2013 ANNUAL REPORT ON FORM 10-K Dear Stockholders: In 2013, we made significant progress i
You are a partner in a prestigious accounting firm, and you just received requests for proposal from two companies; Advanced Micro Devices, and Facebook. The deadline for the proposals is, as is typical, very tight. In fact, with the staff you can pull together for proposal writing right now, you have determined that dividing the effort between two proposals will not work, and you must limit your efforts to one proposal.
Being an accountant, you know you understand financials and can draw lots of pertinent information from the financial statements in the annual reports of the two companies. It is late evening and tomorrow morning, you’ll need to get the staff working on the proposal of your choice right away.
You study the financial statements in detail and based on that make a decision of which proposal you will get your staff started on in the morning.
Identify your choice and list the particular elements of the financial statements that formed the basis for your choice.