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Concepts Essay

In: Business and Management

Submitted By Mz51luvnlife
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CONCEPTS ESSAY: Book Value of Equity

FIN/571
November 16, 2015
University of Phoenix

“Book Value of the firm’s equity is probably the least informative item on a balance sheet (p.53)”

The above statement, based on further research of book value, and how informative it is; could hold true. A balance sheet states that; assets = liabilities + stockholder’s equity, and stockholder’s equity is also known as a firm’s book value.
Book value is a snap shot of a firm’s acquisitions. When an asset is purchased it has a matching book and market value, as time goes by the book and market values change. In the case of Apple, Inc., the current book value is: $119.335 billions of dollars; while the market value of Apple Inc., is $706.54 billions of dollars. These numbers are so far from each other and, there are several reasons for the diversity. 1. High Margins - As stated by Steinberg (2012)” Over the last 3 years, Apple’s return on investment exceeds 100% and the company’s annual gross margins pass 40%”. In this instance for Apple, the use of its current assets as well as the resources generate the income Apple needs to stay on top in the world of technology and innovation. 2. Book Value - Company’s in trouble have to rely heavily on their book’s value as potential buyers and investors look there to make their decisions about the company’s worth. Apple’s book value is totally irrelevant, as the company does not have to worry now or in the future about filing bankruptcy. Apple is financially stable and does not have to worry about selling off any assets for cash or to pay debtors. 3. High Technology - Apple’s game is technology. “The company doesn’t even take part in the manufacturing of its products. It doesn’t have to own large assets in order to make money” (Steinberg, 2012). 4. Intangible Resources – Apple has awesome services it offers to…...

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