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The GAP Incorporation is a renowned world’s international fast growing company which was developed with an aim to specialize in retail businesses (Walter and Charles 706). However, it is the company’s priority to connect with as many customers as possible in the whole world for the benefits of the shareholders and directly make some positive contributions to those communities it does business with (Gary and Curtis 69). The company’s main business deals revolves around the production of accessories, clothing and grooming products for the entire family entity including babies, children, adult males and females. It usually operates under the following brand: Old navy, banana republic, Gap and forth & towne. The company operations are limited in Japan, Europe for example France and Ireland, Canada and United States of America through online outlets and retail stores. It operates around 3095 stores and over 134,000 workers in the whole world. Formerly it operated as a small retailer clothing company, and then it was later rebranded to an upscale dealer in clothing retailer. Lately the company has grown even to specialize in women that are 35 years old. They are also involved in the online services footwear retailer and women's athletic clothes. Usually the workers work only on merchandise products that are to be used in any season. For instance, if designing for holiday season, they as well produce samples for summer or sell the available products for spring use.
The processes include five stages where each stage is a prerequisite of the other. The first stage involves designing and merchandising or development of ideas and this is followed by planning and sourcing. The third stage is the actual production and marketing of the products. The fourth stage is distribution of the products through various outlets in order to reach the intended consumers within a specified time. This is followed by the last stage which entails sales and analysis in order to find out whether the set goals have been achieved (Ford 43).
Any given company requires preparing financial statements in order to keep track of its performance after every trading period. These financial statements are formal records of an organization or company showing all its financial activities. Such statement are prepared and released periodically usually after one year. GAP as a company also shows some selected reports on financial reports information which are released in such a manner that comparison among all companies can be done across the world in order for the managers to rate the performance of the company in relation to other companies (Belverd 877). Financial statements include shareholder’s equity, Net income, profits before tax, revenue, earnings as per every share, dividends for each share and total assets.
The years and names of financial statements are as follows:
- Total revenue - year 2009,2008,2007 etc
- Gross profit year - 2009,2008,2007, 2006 etc
- Operating income -year 2009,2008,2007,2007, 2005 etc
- Income before tax -year 2009,2008,2007 etc
- Income after tax -year 2009,2008,2007,2007 etc
- Net income before extra. Items -year 2009,2008,2007,2007 etc
Belverd E. Needles.m, Financial accounting. New York: John Wiley & sons, 1995.
Ford foundation, The finances if the performing art, London; London prism press, 1974.
Gary A. Porter, Curtis L. Financial accounting; The impact on designmakers, Oxford: oxford university press, 2009.
Walter T. Harrison, Charles T. Financial accounting, oxford: oxford university press, 2001.