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COMPANYS INDUSTRIES?

Entertainment
Broadcasting
Movie Production
Travel & Tourism
Hotel & Resort
Theme Park
Publishing
Consumer Products
Music and Sports
PRIMARY PRODUCTS?
- -Movies
(or)
-Animated Cartoons
-Licensed Products
-Books & Magazines
SERVICES?
-Music Recordings
-Rides
-Scenic Attractions
-Hotel Services
-Travel & Tourism Services
-Child Care Services
-Environmental Programs
-Charitable Programs
-Volunteer Programs
-Cable Network Channels
-T.V Station
-Radio & T.V. Broadcasting
-Restaurants
-Sports Complex
-Theatrical Productions
RAW MATERIALS?
Various Synthetic Materials
Wood
Steel
Iron
Cotton
An Infinite Number of Other Things
HOW
LARGE IS DISNEY?

Consolidated Revenues: $22,473,000,000


Total Combined Assets: $37,776,000,000
Total Number of Employees: A Lot !

Company Location?
500 South Buena Vista Street
Burbank, CA 91521
The Walt Disney Company is a financially strong company for the
following reasons:

-If the company were to liquidate right now it would be able


to satisfy all of its obligations.
-Highly diversified
-Demonstrates a continuous pattern in earnings and growth.
-Company is properly leveraged.
-Managements commitment towards shareholder returns.

Earnings Per Share International Revenues Revenues


Which Way is Disney Moving?
The company is moving forward with anticipation as they
discover more exciting products and services through their
ongoing research and developments.

What Are Disneys Sources of Capital?


Debt (Primarily long-term)
Equity (Preferred & Common)
Company has an Optimal Capital Focus

What is Disneys Largest Asset?


Intangible Assets (Due to Costs in excess of ABCs Net
assets acquired.)

What Are Two or Three Most Important factors for success in this
business?
Creativity
Innovation
Knowledge of Consumer Demands
AUDIT
RELATED
MATTERS!
-The Walt Disney Companys annual report conveys the image of an
innovative and creative company on the leading edge of technology.
-The segments and functional contents of the report are the following:
TABLE OF CONTENTS

Financial Highlights Broadcasting


Letter to Shareholders Broadcasting continued
Disney VoluntEARism Managements Discussion and Analysis
Environmentality Consolidated Statements of Income
Financial Review Consolidated Balance Sheets
THEME PARKS AND RESORTS Consolidated Statements of Cash Flow
Disneys Animal Kingdom Consolidated Statements of StockholdersEquity
Disney Cruise Line Notes to Consolidated Financial Statements
Theme Parks Quarterly Financial Summary
Walt Disney Imagineering Selected Financial Data
CREATIVE CONTENT Managements Responsibility for Financial Statements
Motion Pictures Report of the Independent Accountants
Television Supplemental Information
Disney Feature Animation and Walt Disney Board of Directors and Corporate Executive Officers
Theatrical
There was an auditors report included in the annual report.

The auditors were Price Waterhouse LLP, Los Angeles

The report was essentially none other than a standard three


paragraph unqualified opinion. There was an addition paragraph
following the last paragraph referencing notes to the financial
statements that simply emphasizes what the management had
already addressed.
What Material Types of Transactions
and Transaction Cycles are Involved?
Sales & Sales Collection Cycles
Payables & Acquisitions and Payments Cycle

What are the High-risk Areas?


Products Liability
Patent Infringement
Copyright Violations
Other Liability Areas
Overall Risk of the Entertainment Industry
What Sort of Legal, Regulatory, or Social
Matters are of Concern?

Patents and Copyrights

Special Interest Groups


What Notable Accounting Considerations
Are There For Companies In This
Industry?
Matching Expenses With Revenues
Revenue Recognition
Contingent Liabilities
Various Alternative Accounting
Procedures
Accounting for the Impairment of Long-
Lived Assets and for Long-Lived Assets to
be Disposed Of.
7) The presidents message, graphical presentations and other
information provided, appears to be consistent with the information
provided in the financial statements and in the financial highlights.
Information was clear, concise and straight to the point The Chief
Executive Officer was honest about any issues that were facing
Disney.

8) If I were to perform the next audit on this company, I would


concentrate on Euro-Disney which is located near Paris, France.
This subsidiary has not been a very profitable one.

Based on the annual report, there would only be a small


level of risk, after all, the audit was complete by early November
of last year. The financial information provided in the report was
detailed enough to provide an accurate account of the companys
financial position.
How Many Auditors in Your Opinion Do
You Think You Would Need To Help You
Complete The Audit And How Long Would
It Take?
40 Auditors & Two Months

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