Fiscal year change

Apple Inc: A review of their stock split accounting, treasury stock accounting, and speculated forthcoming fiscal year change.

November 8, 2020 Posted by Mark Nigrini Fraud

In my new YouTube video (https://tinyurl.com/AppleFiscal2020) I review the fact that in the 10-K Apple correctly retroactively adjusts all share and per share numbers as if their 4:1 stock split occurred at the start of the period covered by the financials. I also review Apple’s accounting for their share repurchases and retirements (treasury stock). I then question why Apple needs interest-bearing debt with its mountain of cash. Based on a typo in their 8-K filed in August 2020 I speculate that a fiscal year change to a December year-end is imminent.

About Mark Nigrini

Mark J. Nigrini, Ph.D. is an associate professor at the John Chambers College of Business and Economics at West Virginia University. Mark is the recipient of the 2020 Outstanding Accounting Educator award of the West Virginia Society of CPAs. In his spare time, he enjoys overseas travelling, playing darts, listening to music, watching British television series, and walking 10,000 steps per day.