Assess Its Validity Accounting Essay
This study is based on world’s leading electronic and software based company Apple Inc. which is known as computer giant and it has already placed its identity as an innovative company and it has demonstrated that innovation can lead to market dominance. Apple encompasses a range of electronic and software product and services such as PC, Mac Book, iPhone, iPad, Apple TV, iTunes, Mac OS X, iLife, iWork, Safari and enormous range of applications.
Determining how to obtain financial data and assess its validity:
Financial data provide raw material to drive conclusion of business financial position. The analysis of financial data provides information to manage and track financial activities. Basically, organization can gather financial data from internal resources and external resources. Internal resources refer to business’s own records and external resources means third party sources. As other organisation, Apple may obtain financial data from those resources.
Internal financial data is usually obtained from organization’s accounting system, report prepared by control function such as reports prepared by sales department, report prepared by other departmental managers, supplier, customer and employees. These reports take account of the financial aspect of the departments operations and hence give the accounting and finance division with essential expenditure and revenue details incurred and generated over a time period. As these reports detailed, the financial department can easily gather and interpret data in order to produce information to conclude financial position of the company.
The other sources of financial data of the business are Companies House, company’s website, data base of financial information, libraries, research reports which are known as external sources of financial data.
Internal and external sources of financial data are often complementary to each other as one source facilities the accuracy of another...