I'm in accounting and I'm reviewing a Financial Statement and determining if I would invest in the company or not. The number for current assets is $1,062,785 and its in thousands. Would that mean the number is $1,062,785,000 or $1,062,785. I'm review Coach Inc, Statements and 1 million in assets seems low. So I'm guessing it changes to billions. PLEASE HELP!!!!! My assignment is due tomorrow!!! :/
In thousands means three zeros are to be added. While studying the financial position and the health of the company, billion is not important. The quality of the Assets, Liabilities, Turnover, profit earned, Retained Earnings, Cash flow etc are important. Thee are to be compared and analyzed with previous years.
1,062,785,000