Google Analysis and Audit Plan 2009This project aims at analyzing a public company whose stocks are actively traded on the New York, NASDAQ or other over-the-counter exchanges. Our group will deal with Google Company and also develop the audit plan for the year 2009.The company’s industry: Google operates in the global technology industry. Their main focus is on improvement of the ways in which individuals connect to and access information. Google’s innovations are mainly in the areas of internet advertising and web search. Google’s brand is among the most renowned brands globally.
The automated search technology assists people in accessing useful information from their online index instantly. The raw materials used by the company: Technology is the raw material used by Google to create quality products for sale to its customers. Google also makes use of information as a raw material to its various information search services. The information is processed to a form acceptable to the customers. The size of the company: Google is a very big company based on its sales revenue, the asset base and the number of employees it employs. In the year 2009, its sale revenue was 23,650,563,000 dollars.
This was an increase from the previous year’s sales of 21,795,550,000 dollars. In the same period, its total asset as amounted to 40,496,778,000 dollars compared to 31,767,575,000 dollars in 2008.current assets amounted to 29,166,958,000 dollars in 2009 an increase from 2008’s 20,178,182,000 dollars. Since its inception in September 2008, the number of employees has grown to more than 10,000 employee’s world wide. This shows that Google is a relatively large company. Google’s primary products: According to the financial report, Google’s primary products include Google websites and Google network websites. Location: According to the annual report, the company’s head quarters are located at 1600 Amphitheatre parkway, Mountain View, CA 94043.Google’s association with other companies: Since its inception, Google has been acquiring many companies which are mainly small venture capital companies.
It acquired Keyhole inc. in 2004 and renamed its product to Google earth. In 2006, it acquired You Tube at a cost of 1.65 billion dollars. It has also acquired other companies like double click, Grand central and aardvark. Google has as well established partnership with various other organizations.
The companies include NASA Ames research, Sun Microsystems, AOL of Time Warner, and Mobi Top-level Domain among others. The annual reports: The annual report intends to portray how the company performed financially in the year ended 31 December 2009. It is intended to show the shareholders how their company is performing in terms of profits, assets and the value of shares which is the main interest of the shareholders. Functional segments of the annual report. The following are the functional segments of the report: Management report-This segment contains the composition of the management team as well as the management’s analysis of the company’s performance in the year in question.
The management also analyses the business environment brief, the challenges faced in the year in question and the way forward. The auditors report-This segment contains the auditor’s opinion with regard to the company’s financial statements prepared by the management.