ACCT $201$

Understanding Annual Report Assignment $55$ points

Instructions: Using the $2022$ Bristol$-$Myers Squibb's Annual Report, answer the following questions related to Bristol$-$Myers Squibb,

Where is the corporate headquarters of Bristol$-$Myers Squibb? $($Hint: this is where you can get Annual Report or $10-$K$)$

When is the fiscal year end of Bristol$-$Myers Squibb?

What is Bristol$-$Myers Squibb's primary area of business $($include the page number on the document, not the pdf file page number$).$

Who $($i$.$e$.,$ specific companies$)$ are Bristol$-$Myers Squibb's major competitors? $($not in Annual Report; must use other source$).$

What is the stock ticker symbol used to identify Bristol$-$Myers Squibb's common stock on the stock exchange?

What U$.$S$.$ stock exchange is Bristol$-$Myers Squibb's common stock traded?

The Securities and Exchange Commission $($SEC$)$ requires an annual financial statement audit for all companies, whose stock is publicly traded $($i$.$e$.,$ traded on a stock exchange$).$ The purpose of the audit report is to communicate the findings of the auditor to financial statement users.

a$)$ Who is Bristol$-$Myers Squibb's $2022$ auditor?

b$)$ What is the responsibility of the auditor with regard to auditing the financial statements? $($hint: read the report that is signed by the auditor and discusses financial statements$)$

c$)$ Does the auditor believe that the financial statements of Bristol$-$Myers Squibb were presented fairly? Write the sentence from the report that supports your answer. $($hint: read the report signed by the auditor.$)$

Briefly describe the responsibility by management with respect to internal controls, which is referred to in a report signed by management.

What method of depreciation is used by the company to depreciate its property, plant, and equipment?

What inventory valuation method is used to determine the cost of the company's inventory?

What is the largest source of cash $($cash inflow$)$ from investing activities in fiscal year $2022?($hint: one item, which is listed on the Statement of Cash Flows$)$

What is the largest use of cash $($cash outflow$)$ from financing activities in fiscal year $2022?($hint: one item, which is listed on the Statement of Cash Flows$)$

Describe one footnote $($i$.$e$.,$ notes to the financial statements$)$ that presents additional details about a recorded dollar amount in the current fiscal year's financial statements $($include the note number and page number on the document, not the pdf file page number$).$