In: Business and Management

Submitted By bahnan
Words 3467
Pages 14
Intermediate Accounting III

Table of Contents
Introduction 3
Deferred Taxes 4
Temporary and Permanent Differences 5
Income Tax Provision 6
Defined Benefit vs Defined Contribution Plan 6
Earnings-per-share 7
Stock-based compensation 8
Statement of Cash Flows 8
Investing Activities 9
Non-cash Transactions 9
Conclusion 10
Works Cited 11

FedEx: Power of Global Trade
The purpose of this paper is to analyze the annual report of a publicly traded company. I have chosen to review FedEx. This report will be reviewing the 2011 Annual Report issued by FedEx. The choice of FedEx is twofold. The first factor being that I am a little partially bias toward FedEx because I worked for one of their companies, FedEx Express, for over three years. FedEx Express was a fabulous company to work for because they offered a competitive wage and excellent benefits to part time hourly employees. The company’s ability to offer those competitive wages leads into the other factor, their impact on the global economy. FedEx is a massive corporation with reach to every market within the global economy. Their services are literally the life line that facilitates global trade. Without the air cargo industry, the global economy would be severely hindered. According to the FedEx 2011 Annual Report, 30% of the global GDP in 2010 was reliant by international trade of goods. In 1991, international trade was only represented by 3.7% of the air cargo industry. Based on FedEx analysis, in 2015 the international trade will be 17.7% of the air cargo industry. That growth in international trade is directly related to companies within the air cargo market, such as FedEx, continually expanding and developing more efficient means for delivery. Analyzing the…...

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...fourteen small jets at its disposal, FedEx today has more than 560 aircrafts – making them the largest all-cargo air fleet in the world. The total daily lift capacity of their fleet exceeds 26.5 million pounds. Within 24 hours it travels approximately 500,000 miles. With the 2.5 million miles the FedEx Express couriers log a day; it is equivalent to 100 trips around the earth. A need that already has been identified rarely provides companies with big business opportunities. The greatest opportunities arise when you detect a completely new need that your customers didn’t even recognize themselves until you offered a solution to them. That is the success story of FedEx with its overnight delivery system. The company was named “Federal Express” because of the intended associations with the word “Federal” since it expressed an interest in nationwide economic activity. Another trace to the name is the proposed contract with the Federal Reserve Bank, which the company hoped to attain at that time. Although the proposal was denied, the name “Federal Express” was chosen since Smith believed it was a particularly good one for their purposes. It draws public attention to the business and facilitates name recognition. While the ability to identify an unidentified need provides a great business opportunity, it tends to remain useless if a company fails to come up with a new and innovative way of meeting it. The delivery of a new service can be quite tricky. FedEx solved it brilliantly......

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