Accounting%20 Powerpoint[1]

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ACCOUNTANT Johnson Controls

description

Overview of accountant resposibilties at Johnson Controls for Communications 105

Transcript of Accounting%20 Powerpoint[1]

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ACCOUNTANT

Johnson Controls

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History

Founded By Warren S. Johnson in 1883 Invention of the 1st room thermostat

Company renamed Johnson Controls in 1974

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Company Info.

Headquarted in Glendale, Wisconsin

140,000 employees in 75 countries

(2,500 employeed in Milwaukee)

Vision: A more comfortable, safe and sustainable world

(Company profile, 2008).

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Company Info. Continued

Provides automotive interiors *GM, Daimler Chrysler, and Ford

Provides batteries for automobiles and hybrids * Advanced Auto, Auto Zone, Pep Boys, Wal-Mart

Building energy and security solutions

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Accountant Responsiblities

Coordinate company’s monthly financial statements

Ensure financial statements accord with GAAP

Prepare annual/quarterly report disclosures to auditors

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JOHNSON CONTROLS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(in millions; unaudited)

June 30, September 30,

2008 2007

ASSETS

Cash and cash equivalents $255 $674

Accounts receivable - net 6,647 6,600

Inventories 2,291 1,968

Other current assets 1,899 1,630

Current assets 11,092 10,872

Property, plant and equipment - net 4,385 4,208

Goodwill 6,425 6,131

Other intangible assets - net 779 773

Investments in partially-owned affiliates 859 795

Other noncurrent assets 1,701 1,326

Total assets $25,241 $24,105

LIABILITIES AND SHAREHOLDERS' EQUITY

Short-term debt and current portion

of long-term debt $882 $1,163

Accounts payable and accrued expenses 6,419 6,440

Other current liabilities 2,434 2,317

Current liabilities 9,735 9,920

Long-term debt 3,247 3,255

Minority interests in equity of subsidiaries 156 128

Other noncurrent liabilities 2,106 1,895

Shareholders' equity 9,997 8,907

Total liabilities and

shareholders' equity $25,241 $24,105

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Salary Compensation

1-3 years of experience $36,000-$60,000

3 years + $60,000-$200,000+

(Bureau of Labor Statistics: U.S. Department of Labor, 2007).

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Qualifications to apply

Bachelor’s degree in accounting

CPA certification (150 credit hours) Undergrad + Master’s degree

A min. of 5 years experience Public or private accounting industry