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Financial Analysis of Best Buy

Best Buy is also in law suits with three different plaintiff at this time. There will be a discussion on how this will impact Best Buy financial statements. Trends in assets and liabilities as well as which assets and liabilities are the largest will also be discussed. There will be a discussion on stock evaluation and the current outstanding stocks present for Best Buy. .
             Due to the importance of the income statement, the type of income statement that Best Buy uses will be presented. Extraordinary item that changes the income statements totals will also be reviewed. The trend in the income statement from the past three year and what is causing this trend will also be discussed. Cash flow is another major statement in any company which will be reviewed in detail in regards to what type of cash flow method Best Buy uses. Investment activities will be discussed to find out if Best Buy does invest on itself or other investments. In conclusion, the author will present his opinion regarding Best Buy as a company and its future. All figures presented in this analysis will be presented in the $ millions.
             An Analysis of the Financial Statement of Best Buy.
             The accounting firm of Deloitte & Touche has finished their audit of Best Buy for 2012. They have concluded that the financial reports of Best Buy in their words have, "expressed an unqualified opinion on the Company's internal control over financial reporting" (Best Buy Form 10-K, 2012, p. 62). An unqualified opinion on the company's internal control is actually quite rare. Unqualified opinion is a term that for auditors reports that the company's financial statements are not represented fairly with in its financial position which are usually results of operations, or change in financial position or is not conformed with GAAP. This adverse opinion usually results when an outside auditor has been unable to convince the client to amend the financial statements so it will coincide with that auditor's outcome to the future events that adhere to GAAP.


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