Sample Kodak Annual Report Essay
Introduction
Kodak is considered as the world’s most popular imaging in terms of innovation. The sales from realized by the company from continuing operations for three respective years, 2007, 2006 and 2005 were $ 4,631, $4,711 and $5,646 in terms of millions respectively. Company generates income and profits through the sale of products and services to a wide range of consumers. The company was able to achieve its strategic goals in terms of net cash, earnings expansion and revenue development for the financial year 2007 (Kodak, 2007).
Analysis of Eastman Kodak 2007 Annual Report and Form 10-K
The Company derives its income from the sale of products and services to the consumers. Hence, the incremental undeviating costs of a consumer t have an outcome in the process of deferral income and other related income that are acknowledged during the period under review. During the period ended 31st December, 2007 the gross profits in the Kodak Company were considered to have improved as a result of a reduction in the manufacturing costs. Foreign exchange was also regarded as positive backer to the company’s gross profit. Furthermore, the reduction in the costs of manufacturing was attributed to the Company’s cost decrease inventiveness that was undertaken. There was also a change in the annual effective tax level that was as a result of continuing operations and an acknowledged tax advantage (Kodak, 2007).
Other operating expenses within Kodak Company comprised of the gains or profits and losses made on the sales of major capital resources that were available to the company. Hence, the increase in other operating expenses was mainly attributed to the profits that were made as a result of the sale of the Company’s major investment properties within the present year. On the other hand, the lower interest expenditure was majorly as a result of the decline in the debts rates as an outcome of an entire payoff of Kodak Company secured term debt. The trustees of the Kodak Pension plan involve the contributions of the trustees for a particular period of time. Thus, the guarantees expire after the conclusion of the funding period of the trustee.
In regards to the cash flows the company major sources of cash during the period of 2006 involved earnings from the continued company operations in addition to adjusted non-cash items in terms of income and expenses, debt repayments and retiree benefit plan contributions. The inventories of the company are further stated on a declined of market cost. During the period the disposal of long term asset as an accounting principle played an important role in terms of the company’s increase in income rates (Kodak, 2007).
During this period the operating expenses were considered to be lower that the gains made therefore translating into major profits being realized in the company. However, there was a form of depreciation in the sale of long term assets making the company to incur losses during the sale of the long term assets. The auditing process that was conducted was given an allowance of doubtful accounts during the period under review. In relation to the cost of goods sold the Kodak Company engaged in the sale of various types of goods that were being manufactured by the company. The gains or profits made were indicated in terms of the prices in relations to the volume of the manufactured product of the company. Through the gains or profits realized in the company there was a record of both real and nominal types of growth in the company (Sklarsky, 2006).
Asset impairment also plays an important role in the process of assessing the quality of the annual report. This involves the process of acknowledging losses on intangible assets. It therefore involves writing off worthless goodwill while understanding its potentials in the market. Goodwill is valued every year for the purposes of determining if impairment is necessary. The CPI for the year ended 2007 is 207.3 and for 2006 is 201.6 that reflects the gains made in the two financial years. The adjustment of the 2007 net earnings will enable the company to maintain effectiveness and profits in the coming financial years (Kodak, 2007).
Conclusion
The quality of the Kodak Company Annual report is therefore dependent of various aspects. These aspects will determine the quality of the report and ascertain whether losses or gains were made in the company. The quality of the report will also be an effective tool as it will offer effectiveness for future prospects of the company in general. Thus, various factors come into play for the quality of the report to be adopted for future prospects of the company.
References
Eastman Kodak Company 2007 Omnibus Long-Term Compensation Plan, effective January 1,    2007.
Sklarsky, S. (2006). Agreement. (Incorporated by reference to the Eastman Kodak Company Quarterly Report on Form 10-Q for the quarterly period ended      September 30, 2006, Exhibit 10.1.)

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