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Professional Knowledge and Abilities

In: Business and Management

Submitted By slim522
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Disclosure Analysis Paper-Home Depot
University of Phoenix
Intermediate Accounting II
ACC 422
Steven Uhl
May 10, 2010

Disclosure Analysis Paper Home depot is known as one of the world’s biggest publicly held home improvement retailers to date. Home depot stores sell an assortment of building supplies, home improvement, and lawn and garden materials with a focus on three primary customer groups; the do-it-yourself customers, do-it-for-me customers and the professional customers (Annual Report, 2010), and as a result the Home depot has been very successful and has grew to include stores not only all over the United States, but in Canada, China and Mexico as well. According to Home depot annual report (form 10-k), for fiscal year ended January 31, 2010, the carrying amounts of cash and cash equivalents, receivables, accounts payable and short-term debt are approximates of fair value because of the short-term maturities of their financial statements. Home depot considers highly liquid investments that were purchased with original maturities of three months or less to be cash equivalents. Therefore, cash equivalents are carried at fair market value and consist primarily of high-grade commercial paper, money market funds and U.S. government agency securities. As for accounts receivables, Home depot has an agreement with a third-party company that expires in 2018, who extends credit to customers and manages the companys private label credit card program and owns the related receivables. The Home depot has the option to purchase their receivables at the end of their agreement with the third-party provider. Deferred interest charges that are incurred by the company for their deferred financing programs are included in Cost of sales. Merchandise inventory is stated at the lower cost (first-in, first-out) or market, as determined by the retail inventory method.

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