•Click

A.toJohnson
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• L. Mitchell
• A. Robinson
•
A. Wilson
(Slides Notes/Reference Pg. included.)

Reyte On Publishing
4/12/10
History
Founded 1963
Originally named American Cable Systems

 Founders:

Ralph Roberts
Daniel Aaron
Julian Brodsky

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History
Renamed Comcast in 1969


 Became Incorporated

•
Went Public…Offered stock

•
on NASDAQ

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History
Acquired numerous other cable companies


 Doubled subscribers to over 1.2 million

 Merged with Time Warner

 Founded various other

companies
 Current CEO Brian Roberts

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 Auditing Procedures
Auditing Committee
•

 Independent Auditing Firm

Mitchell & Titus, LLC

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Going Public
NASDAQ Stock Exchange
Comcast Ticker Symbol
CMCSA

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 Auditing Procedures
Auditing Committee
•

 Independent Auditing Firm

Mitchell & Titus, LLC

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 Assets
Cash and Cash Equivalents for 2008

Beginning $1,195,000
Ending $963,000
_______________
$232,000

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 Assets
Total Assets for 2007 and 2008

2007 ~ Total Assets $3,667,000

2008 ~Total Assets $3,716.000

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 Assets
Largest Current Assets for 2007 and 2008

2007
a) Cash and Short Term Investments $1,061,000
b) Total Receivables, net $1,465,000

2008
a) Cash and Short Term Investments $1,254,000
b) Total Receivables, net $1,626,000

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 Assets
Total Current Assets for 2007 and 2008

2007 $113,017,000

2008 $113,417,000
_________________
$ 400,000

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 Liabilities
Total Liabilities for 2007 and 2008

2007 $7,952,000
2008 $8,939,000

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 Liabilities
Reductions in Taxes
•

• Revisions of Michigan and Tax Laws

• Favorable Resolution in Liabilities for 2006-2008

2006 ~ $7,952,000
2007 ~ $7,191,000(Tax Breaks & Liabilities dropped)
2008 ~$8,939,000

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 Revenues
Comcast Revenues for 2006-2008

2006 ~ $24,966,000
2007 ~ $30,895,000
2008 ~ $34,256,000

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 Revenues
Comcast Income Statement for 2006-2008

2006 $2,681,000
2007 $2,497,000 (Drop in Income)
2008 $2,490,000 (Further decline)

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 Revenues
Change in Income 2006-2008

2007 to 2008 2006 to 2007

$2,497,000 (2007) $2,681,000 (2006)
-2,490,000 (2008) - 2,497,000 (2007)
_______________ _______________
(7,000) Loss (184,000) Huge
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Deficit
Future
Future of Comcast

New Bundled Services



Expansion into Telephone and

Internet

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 References
Comcast Corp Financial Statements, Retrieved September 19, 2009,
from http://moneycentral.msn.com

Comcast Corporation (2008) Annual 2008 report on form 10K retrieved

on
September19, 2009 from
http://www.comcast.com/2008annualreview/pdf/2008comcast

Comcast.com. (2008)Consolidated Balance Retrieved September 21,

2009 from
http://www.comcast.com/2008annualreview/pdf/consolbalance.pdf

Comcast.com (2007). Consolidated Balance. Retrieved September 20,

2009 from
http://www.comcast.com/2007annualreview/includes/pdfs/consolbala
nce.pdf

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 References
Comcast.com. (2008). Consolidated Equity Income
Retrieved September 20, 2009 from
http:/www.comcast.com/2008annualreview/pdf/conso
lequityincome.pdf

Comcast.com (2007). Consolidated Income. Retrieved

September 20, 2009 from
http:/www.comcast.com/2007annualreview/report_co
nsolincome.htm
MSN.com. (2009). Comcast Corporation Financial
Statements. Retrieved September 19, 2009, from
http:/moneycentral.msn.com.

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Thank You!
~ Reyte On
Publishing
comcast commercial
with lyrics
4/12/10