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Facebook Case Project

In: Business and Management

Submitted By miewqe
Words 1049
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1. Facebook's business is to build useful and engaging products that enable people to connect and share through mobile devices and personal computers and make the world more open and connected. Facebook generates the substantial majority of their revenue from selling advertising placements to marketers and help them achieve their business objectives, such as online sales, in-store sales, or awareness of their brand.
2. Public companies are required to file various reports with the SEC. The first is 10-Q: quarterly financial statements, and the second is 10-K: annual financial statements.
3. The company’s management is responsible for the financial statements. And four potential users of the statement: - Managers and employees of the company. They are interested in using financial statements to see how they performed and help them sum up and make clear woke objectives for the future. - Investment analysts. They are interested in using financial statements to predict companies' future performance. - Shareholders and investors. They are interested in using financial statements to assess the risks and rate of return of the company. So that they can choose which company they want to invest. - Creditors and suppliers. They are interested in using financial statements to adjust or change the cooperation plans.
4. Facebook's external auditor is Ernst & Young LLP. The auditor offers that Facebook, Inc. maintained, in all material respects, effective internal control over financial reporting, based on the COSO criteria.

5. Common size income statement for 2014 and 2013 ended Dec. 31. (in millions) 2014 %of sales 2013 %of sales | Revenue $12,466 100% 7,872 100% Cost of sales 2,153 17.27% 1,875 23.96%

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