General Motors Essay by Master Researcher

General Motors
An examination of the statements and policies of General Motors.
# 86796 | 900 words | 1 source | 2005 | US
Published on Dec 01, 2005 in Accounting (Financial) , Business (Companies) , Business (Administration)


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Description:

This paper discusses the nature and character of General Motors financial statements as found in its annual financial statement (10-K), released to its shareholders and the general public. Particular attention is paid to the income statements, cash flows, and accounting policies. Also, the type of income statement, either single-step or multi-step, is identified.

From the Paper:

"Income statements can either be single-step or multi-step and the choice of which is used is dependent on the type of business and the business model employed. A single-step income statement tends to place all revenues in one sum as well as all expenses together in another sum. Single-step income statements are most commonly associated with companies or business models built around a service or an intangible product of some kind. Multi-step income statements normally contain more than one sub-total under the sales revenue column such as a cost of goods sold (COGS) figure so that a more accurate picture of revenue can be deduced from the figures."

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