ACCT 220 - UPS – SEC 10-K Report

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220

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Accounting

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Nov 24, 2024

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UPS – SEC 10-K REPORT JEAN-JOSEPH BONI
NEED TO KNOW United Parcel Service is one of the largest shipping and logistics companies in the world The company started in the telegraph industry with only $100 investment and it was previous named American Messenger Company founded by Claude Ryan in Seattle, Washington in the early 1900s. According to Forbes magazines, UPS has made $97.2 billion of revenue so far in 2022 (Forbes, n.d.) INTRODUCTION
NEED TO KNOW UPS had a revenue of $49,144,000,000 (2022) and operating expenses ,which includes compensation and benefits, repairs and maintenance, depreciation and amortization, purchased transportation, fuel and other expenses, totaled to $42,358,000,000 (2022). Operating profit totaled to $6,786,000,000 (2022) meaning the company earned more than it spent in 2022. INCOME STATEMENT
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NEED TO KNOW Account receivables are the balance of money that customers owe to a company for services and goods that have not been paid yet. It includes balance that is already billed and currently due UPS’ account receivables in 2022 totaled to $11, 396,000,000 ACCOUNT RECEIVABLE
NEED TO KNOW 138 Class A common stock shares issued in 2022 valued $2,000,000 732 Class B common stock shares issued in 2022 valued $7,000,000 Total shareowners’ equity and liabilities are totaled to $70,089,000,000 SHAREOWNERS EQUITY
NEED TO KNOW All the data in the 10-K Report suggested that UPS had a positive fiscal year. COVID19 has been beneficial for the company as it has been one of the major players in moving goods and services around the globe when the economy was paused. CONCLUSION
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NEED TO KNOW The comprehensive income statement “establishes standards for reporting and display of comprehensive income and its components (revenues, expenses, gains, and losses) in a full set of general-purpose financial statements” (FASB, n.d.) UPS’ Comprehesive Income (Loss) reported $2,855,000,000 as of June 30 th , 2022 COMPREHENSIVE INCOME (LOSS)
NEED TO KNOW Forbes. (n.d.). United Parcel Service | UPS Stock Price, company Overview & News . Forbes. Retrieved November 2, 2022, from https://www.forbes.com/companies/united-parcel-service/?sh=5e9e6b 4b72da US S.E.C. (n.d.). UPS - Form 10-Q . Inline XBRL Viewer. Retrieved November 3, 2022, from https://www.sec.gov/ix?doc=%2FArchives %2Fedgar%2Fdata%2F1090727%2F000109072722000034%2Fups- 20220630.htm#idf962fbb8de4442ca7e7241710d28b36_22 FASB. (n.d.). Summary of statement no. 130. FASB. Retrieved November 11, 2022, from https://www.fasb.org/page/PageContent? pageId=%2Freference-library%2Fsuperseded-standards%2Fsummary- of-statement-no-130.html&bcpath=tff REFERENCES