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Annual Report Analysis

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Submitted By danicda100
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Annual Report Analysis for Adidas AG

1. Who are the firm’s auditors? Do they provide a clean opinion on the financial statements?
As of 2015, Adidas elected KPMG AG Wirtschaftsprüfungsgesellschaft, a subsidiary of KPMG located in Berlin, to annually audit the company’s annual financial statements. These annual financial statements are completed following the provisions of the German Commercial Code and the German Stock Corporation Act.
The auditors do provide a clean opinion on the financial statement of 2015. This can be observed in their closing statement: “Our audit has not led to any reservations. In our opinion, based on the findings of our audit, the annual financial statements comply with the legal requirements and give a true and fair view of the net assets, financial position and result of operations of the Company in accordance with German principles of proper accounting” (Adidas-group.com).
2. Have there been any subsequent events, errors and irregularities, illegal acts, or related-party transactions that have a material effect on the financial statements?
There is no mention of any subsequent events, errors, irregularities or illegal acts in the financial statement of 2015.
3. Describe the trend in total assets and total liabilities for the years presented.
Adidas’s current total assets, as of March 31st, 2016 is of €7.67 billion euros. This reveals a decrease of 3.1% when compared to March 31st, 2015’s total assets of €7.91 billion euros. The total assets of the company equaled €7.41 billion euros on December 31st, 2014 and €6.69 billion euros on December 21st, 2013. Therefore, the company’s assets have been incrementally growing since 2012 but witnessed a slight drop in the first semester of this year.
4. What are the company’s three largest assets for the most recent year presented?
Inventories have been the largest assets of the company…...

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