At&t Executive Summary

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AT & T Executive Summary Acc280 Charles Cornett April 19, 2010 AT & T Executive Summary Current Assets The two largest current assets for At & T in 2008 was property, plant and equipment and goodwill and in 2009 it was the same assets as in 2008. Property, plant and equipment assets in 2008 was $99,088,000.00 and goodwill was $71,829,000.00 in 2008. In 2009 property, plant and equipment assets were $100,093,000.00 and goodwill was $73,259,000.00. Property, plant and equipment is stated at cost, except for assets acquired using purchase accounting, which are recorded at fair value (www.at&t.com). The cost of additions and substantial improvements to property, plant and equipment is capitalized (www.at&t.com). The cost of maintenance and repairs of property, plant and equipment is charged to operating expenses (www.at&t.com). Property, plant and equipment is depreciated using straight-line methods over their estimated economic lives (www.at&t.com). Goodwill represents the excess of consideration paid over the fair value of net assets acquired in business combinations (at&t.com). Goodwill and other indefinite-lived intangible assets are not amortized but are tested at least annually for impairment (www.at&t.com). The company's total assets at the end of the annual reporting for 2008 was $265,245,000.00 and for 2009 was $268,752,000.00. The assets did increase from 2008 to 2009. Account Payable AT & T account payable for the year ending in 2008 and 2009 are as followed, in 2008 was $20,032,000.00 and in 2009 was $20,999,000.00. There was a slight increase in accounts payable from 2008 to 2009. Liabilities AT & T current liabilities for the year ending in 2008 was $42,290,000.00 and year ending 2009 was $36,705,000.00. There was a slight decrease in liabilities from 2008 to 2009. AT & T two largest current liabilities for 2008 and 2009

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