The Chief Executive Officer for Samsung Electronics, Jong-Yong Yun, contacted our firm to request our service to prepare a financial overview for the record management team regarding the following segments: Statement of Changes in Owner's Equity, Statement of Cash Flows, Notes, and other Financial Information. The theme and goal for this company is to endeavor to become the best; through the spirit of excellence; however, the only way to accomplish this, is to build and maintain a thriving financial department. Samsung Electronic is a multi-million dollar company and it is now one of the world's greatest companies (with the trust and full support of their shareholders), and an increasingly powerful brand. Despite the unfavorable business environment, Samsung Electronic posted a second record-breaking year in a row in 2003. (Annual Report 2003) They were able to maintain the highest record through their sales of premium products. To include the following: high-value mobile handsets, flash memory chips used in digital cameras, and MP3 players and LCDs for notebooks PCs, desktop monitors and televisions.
Samsung is firmly established as a true innovator and they have significant advantages to exploit. As one of the few electronics companies with profound competencies in both A/V and IT, they have the foresight and willingness to make industry-leading investments in the future. (BO 2003) Investment is one of the most reliable forms of income that will enhance core competitiveness for the future. An example of how well they're growing: 2003 Owners Equity Income had an all time record high of $25,196,084 (USD) compared to 2002 figures, $21,989,429 (USD). They gained a difference of $3,206,655.
Samsung's Statement of Cash Flow is pretty straight forward. The Statement of Cash Flow reports 3,446,700 in Cash and Cash Equivalents at the end of the year 2003. The first section of the...