Executive Summary for Amazon

Team B’s goal is to write an Executive Summary on Amazon.com using the Internet and other resources including their annual report to show a concise and complete history of finances over the past three years. This summary will include a brief history of the company, along with information on their audit firm, stocks, current assets, total assets, liabilities, revenues, and incomes. Along with this summary Team B will provide the statement of cash flow, income statement, and balance sheet.

Amazon.com is a fortune 500 company founded in 1995 by Jeff Bezos; it started as a place where shoppers could go online to purchase books. During its first 30 days, Amazon.com had shipped packages to customers in 50 states and 45 additional countries from the founders Seattle garage. Jeff’s innovative idea and the technology developed have allowed Amazon.com to grow rapidly. Amazon offers a variety of products to go along with the books they sell. Amazon owns and operates many webpage’s and has additional programs that permit third parties to sell products on these sites. In 2000, Amazon.com decided to open its sites to individuals and other retailers (Amazon, 2011). In 2007 they introduced the Kindle, which revolutionized the portable reader industry, and gave people the option of downloading books, magazines, newspapers, blogs, and personal documents. Most recently Amazon.com has been providing developing customer access to his or her in-the-cloud infrastructure services, based on their own technological platforms (Amazon, 2011). Amazon.com has evolved from a website to an e-commerce site to a development platform. Today some of the brightest minds in the industry work for Amazon.com (Amazon, 2011).

Amazon.com has its financial statements and supplementary data prepared by Ernst & Young LLP. Amazon is listed on the Nasdaq Global Select Market under the symbol “AMZN” (Amazon, 2011, p.4). At the end of its two most recent annual reports Amazon.com shows to have $2.5M in 2010 and $2.9M in 2009 of free cash flow. Annual reports are for the years ending December 31st.

The total current assets for Amazon.com for 2010