How is internal control over financial reporting

Assignment Help Financial Management

Reference no: EM133990669

Assignment:

TIF 7-3

Real-World Annual Report

In teams, select a public company that interests you. Obtain the company's most recent annual report on Form 10-K. The Form 10-K is a company's annually required filing with the Securities and Exchange Commission (SEC). It includes the company's financial statements and accompanying notes. The Form 10-K can be obtained either (a) from the investor relations section of the company's website or (b) by using the company search feature of the SEC's EDGAR database service found.

Based on the information in the company's most recent annual report, answer the following questions:

How much cash does the company have at the end of the most recent year?

What percentage of total current assets is cash during the most recent two years presented? Has this percentage increased, decreased, or remained the same during this period?

Review Management's Annual Report on Internal Control Over Financial Reporting. Based on this information, answer the following questions:

Who has responsibility for establishing and maintaining adequate internal controls over a company's financial reporting?
How is "internal control over financial reporting" defined in this report?
What is a material weakness?
Were any material weaknesses identified?

I chose the industry telecommunications and the company T-mobile. please help me answer the questions above for that company.

Reference no: EM133990669

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