Answer the following questions using the annual report of Dell, Inc. in Appendix A.
a. Who is responsible for the preparation and integrity of Dell’s financial statements and notes? Management has the primary responsibility for the preparation and integrity of Dell’s financial statements and notes.
b. In which note does Dell report its significant accounting policies used to prepare financial statements? Note 1 is where Dell ...view middle of the document...
’s January 28, 2005 consolidated financial statements and of its internal control over financial reporting as of January 28, 2005 and audits of its January 30, 2004 and January 31, 2003 consolidated financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). It is the registrant’s auditors and the audit committee of the registrant’s board of director’s opinion.
d. Is any of the information in its annual report based on estimates? If so, where does Dell discuss this? The preparation of GAAP financial statements requires certain estimates, assumptions, and judgments to be made that may affect Dell’s consolidated statement of financial position and results of operations. Management has discussed the development, selection, and disclosure of its critical accounting policies with the Audit Committee of Dell’s Board of Directors. These critical accounting policies and Dell’s other accounting policies are described in Note 1 of “Notes to Consolidated Financial Statements” included in “Item 8—Financial Statements and Supplementary Data.”