AbstractThe for-profit organization of interest we selected is Samsung electronics co., ltd. and its subsidiaries. We researched the unusual or conflicting accounting principle that has impacted Samsung electronics co, Included in this research we present, a review and analyze the organizations published accounting statements of the last two years. Specifically, our research paper will: Identify the core functions of each department, their strengths and weaknesses, and make recommendations for improvement, as appropriate.
This paper Identifies and describe the underlying problems, Compares the alternative courses of action, Explain the effects at issues, Recommend options that would be consistent with the organization’s accounting practices, accounting processes, and accounting-related departments. Last includes the last two years of published accounting statements
From its inception as a small export business in Taegu, Korea, Samsung has grown to become one of the world’s leading electronics companies, specializing in digital appliances and media, semiconductors, memory, and system integration. Today Samsung’s innovative and top quality products and processes are world recognized. This timeline captures the major milestones in Samsung’s history, showing how the company expanded its product lines and reach, grew its revenue and market share, and has followed its mission of making life better for consumers around the world. (SAMSUNG All rights reserved)
To identify the core functions of each department, Samsung organization structure consist of Vice Chairman, US executive team and a Board of directors. http://visiblebusiness.blogspot.com/2009/11/samsung-samsung-ar-2008.html Samsung has recently been involved one of the largest patent laws of its kind, Apple Inc. has sued Samsung for $2.525 billion for copyright infringement of the iPhone and iPad with Samsung’s Android technology smart phones. Apple claims, Samsung owes “substantial monetary damages” for when they illegally “chose to compete by copying Apple.” You might hear some comments like “Apple is better “or what’s so good about Samsung.
First let’s identify, Samsung throughout the years has been very successful in providing consumers with innovative technology. Samsung has revenue of 247.5billon, Assets of 384.3 billion, Equity of 224.7 billion and net income of 18.3 billion with 344, 00 employees. (Samsung Electronics Co., Ltd. and its subsidiaries) Apple has pulled together 434 LTE patents in order to counter a legal threat from Samsung, according to reports on Tuesday.
Samsung has vowed to sue Apple if, as expected, if it unveils an LTE-enabled iPhone 5 during the launch event now confirmed for September 12. Anticipating this, Apple has been acquiring and developing enough LTE patents to combat the legal challenge, according to the Chosun Ilbo website. Samsung is planning to make the air-condition product category more strong with unique technology called ‘Triple protection proposition’ Samsung is the India’s official ‘Olympic partner’ for the 2012 London Olympic and recently launched ‘Olympic Ratna Program’.
This will result enhance brand awareness and increase the sales. Samsung Mobile and Home appliance has future plans of launching Customized products for Indian market. This will improve the market share in rural market being that Apple is filling injections on a lot of their products. The Indian youth population is growing and mobile phone sales is expected to increase due to lesser call rates, Its financial position is strong and there is a scope of entering into unrelated diversification.
Two years published accounting statements 2011> http://www.samsung.com/us/aboutsamsung/ir/financialinformation/annualreport/downloads/2011/SECAR2011_Eng_Final.pdf
http://www.samsung.com/us/aboutsamsung/ir/financialinformation/auditedfinancialstatements/downloads/consolidated/2012_con_all.pdf (Samsung, 2012) Samsung’s core functions of each department, their strengths and weaknesses were identified, recommendations for improvement were addresses. We hit on possible course of actions Samsung could take with the drop in market shares as well as the alternative courses of action. Samsung Has been in the Industry to long to make a mistake as big as they did in the lawsuit against apple but they are innovators and will continue to make great products and make profits as represented in the financial statements provided.