Does the amount reported for revenue represent cash received from customers during the year?
What steps would you need to take to be a candidate for employment?
July 6, 2019Develop strategic goals that would support achievement of the mission/vision guided by the use of a balanced score card.
July 6, 2019Does the amount reported for revenue represent cash received from customers during the year?
Question Description
MSN Money offers information about companies, industries, and related news items. For researching a company, the website is a good place to start gathering basic information. Go to http://moneycentral.msn.com. View the financial results of Starbucks. For the most recent year list the amounts reported for sales, cost of goods sold, and total net income. Does the amount reported for revenue represent cash received from customers during the year? If not, what does it represent? What does the amount reported for cost of goods sold represent? Is Starbucks a profitable company? How can you tell? Does starbucks use accrual-based or cash-based accounting? How can you tell?
