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Introduction
There are several sources of funds that a business can use to boost working capital and long-term finances. Major sources of funds that are common across businesses are short-term and long-term loans from financial institutions and trade payables. Other sources include shares, retained earnings, finance, operating lease, hire purchase, and venture capital, among others. This treatise looks at the background of Apple Inc. and various sources of funds for the company.
Background of the Company
Steven P. Jobs and Steve Wozniak founded Apple Inc. in 1976. It is the world’s largest technology company in terms of revenue and profit. When considering market capitalization, it is the largest publicly traded company in the world. It has approximately 63,000 employees across the globe. Apple Inc. is based in America. It has more than 350 retail outlets across the world. It trades in consumer electronics, software, and computers. The company produces iconic products such as iPhone, iPad, iMac, and iPod. These products have tremendously redefined music, cell phone, and entertainment and media businesses across the globe. The company faces stiff competition from well-established companies in the industry such as Google and Microsoft.
Nine people make up the management team. The CEO (Tim Cook) leads the team. Other executives include Senior Vice President, Internet Software and Service (Eddy Cue), Senior Vice President, iOS Software (Scott Forstall), Senior Vice President, Industrial Design (Jonathan Ive), Senior Vice President, Hardware Engineering (Bob Mansfield), Senior Vice President and Chief Financial Officer (Peter Oppenheimer), Senior Vice President, Worldwide Marketing (Philip W. Schiller), Senior Vice President and General Counsel (Bruce Sewell), and Senior Vice President, Operation (Jeff Williams).
There is no gender balance in the executive team. Eight members make up the Board of Directors. Arthur D. Levinson chairs the Board of Directors. In total, the company has approximately 63,000 employees across the globe. The death of the founder member, Mr. Steve Jobs, left a glomming face on the future of the company. This is because he was known to be the star and an excellent innovator of iconic products.
Sources of funds
The Company has had a tremendous path of growth in net sales and net income for the past five years. For instance, in 2007, net sales amounted to $24, 578 million while net income was $3,495 million. In 2011, net sales amounted to $108,249 million while net income amounted to $25,922 million. For reporting purposes, the company is divided into segments according to regions. Net sales from America make up a large proportion of the total sales. Apple has diverse sources of funds. From the 2011 financial statement presented in form 10-K, the business relies on marketable government securities as a source of funds.
The value of short-term marketable securities amounted to $16,137million while the long term amounted to $55,618 million in 2011. The business has several accounts receivable and accounts payable. The accounts payable amounted to $14,632 million in 2011. The total authorized share capital of the company amounts to 1,800,000 shares. The company has issued 929,277 shares. The value of the shares amounted to $13,331 million in 2011. The company also had retained earnings amounting to $62,841million. Finally, there were operating leases amounting to $3,032 million and purchase obligations amounted to $13,949 million.
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