Hewlett packard 10k: comprehensive review & audit by ernst & young

Hewlett Packard, commonly known as HP, is a leading technology company that provides a wide range of products and services to individuals and businesses worldwide. With a strong reputation for innovation and quality, HP has become a household name in the tech industry. In this article, we will be taking a closer look at HP's annual turnover and the auditing process conducted by Ernst & Young LLP.

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Annual Turnover of Hewlett Packard

The annual turnover of Hewlett Packard, also referred to as the 10K report, is a comprehensive financial statement that provides an overview of the company's performance and financial position during a given fiscal year. It includes information such as revenue, expenses, profits, assets, and liabilities.

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HP's annual turnover is a crucial document for investors, analysts, and stakeholders as it helps them evaluate the company's financial health and make informed decisions. It provides insights into HP's revenue sources, cost structure, profitability, and overall business strategy.

Key Highlights from HP's 10K Report:

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  • Revenue: In the latest 10K report, HP reported a total revenue of $58 billion, reflecting a X% increase compared to the previous fiscal year.
  • Expenses: HP's operating expenses amounted to $XX billion, including research and development, marketing, and general administrative costs.
  • Profits: HP generated a net income of $X billion, indicating a X% growth from the previous year.
  • Assets: The company's total assets were valued at $XX billion, including cash, inventories, property, and investments.
  • Liabilities: HP's total liabilities amounted to $XX billion, including debts, obligations, and other financial commitments.

These key figures provide a snapshot of HP's financial performance, but it's important to delve deeper into the 10K report to gain a comprehensive understanding of the company's operations and prospects.

Ernst & Young LLP: HP's Auditor

HP's independent registered public accounting firm responsible for auditing the company's financial statements is Ernst & Young LLP. As one of the big four accounting firms globally, Ernst & Young brings a wealth of experience and expertise to the table.

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The role of Ernst & Young LLP in the auditing process is to examine HP's financial records, transactions, and internal controls to ensure compliance with United States generally accepted accounting principles (GAAP). The auditors conduct a thorough review of HP's financial statements and issue an opinion on their conformity with GAAP.

Why is Auditing Important?

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Auditing plays a crucial role in maintaining transparency and accountability in the financial reporting of companies like HP. It provides assurance to investors, regulators, and other stakeholders that the financial statements are free from material misstatements and fairly represent the company's financial position.

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Ernst & Young LLP follows a systematic and rigorous approach to auditing HP's financial statements. They perform tests, gather evidence, and assess the effectiveness of internal controls to ensure the accuracy and reliability of the reported financial information.

Q: Can individuals access HP's 10K report?

A: Yes, HP's 10K report is publicly available and can be accessed on the company's official website or the U.S. Securities and Exchange Commission's (SEC) EDGAR database.

Q: What other information can be found in HP's 10K report?

A: In addition to financial statements, HP's 10K report also includes management's discussion and analysis of financial condition and results of operations (MD&A), risk factors, and other disclosures required by regulatory authorities.

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Q: How often does HP release its 10K report?

A: HP releases its 10K report annually, providing a comprehensive review of the company's financial performance for the fiscal year.

Q: Is auditing mandatory for publicly traded companies like HP?

A: Yes, auditing is mandatory for publicly traded companies in the United States. It helps ensure the accuracy and reliability of financial statements, providing confidence to investors and the general public.

HP's 10K report offers valuable insights into the company's financial performance, providing investors and stakeholders with a comprehensive view of its operations and prospects. With Ernst & Young LLP as its auditor, HP demonstrates its commitment to transparency and accountability in financial reporting. By analyzing the 10K report, individuals can make informed decisions regarding their investments and evaluate HP's potential for future growth.

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