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Hassan Afs Final

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Its about the analysis of financial statements of two differnt companies.
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    PROCTER & GAMBLE Procter & Gamble Co. (P&G, NYSE: PG) is a Fortune 500, American global corporation based in Cincinnati, Ohio, that manufactures a wide range of consumer goods. As of 2008, P&G is the 23rd largest US Company by revenue and 14thlargest by profit. It is 10th in Fortune's Most Admired Companies list (as of 2007). P&G is credited with many business innovations including  brand management, the soap opera, and Connect & Develop innovation. According to the  Nielsen Company, in 2007 P&G spent more on U.S. advertising than any other company; the $2.62 billion it spent is almost twice as much as General Motors, the next company on the Nielsen list. P &G was named 2008 Advertiser of the Year by Cannes InternationalAdvertising Festival. Procter & Gamble has expanded dramaticallythroughout its history, but its headquarters still remains in Cincinnati. P&G's dominance in many categories of products makes its brand management decisions worthy of study. For example, P&G'scorporate strategists must account for the likelihood of one of theirproducts cannibalizing the sales of another. MISSION To provide branded products and services of superior quality and value that improves the lives of the world's consumers, now and for generations to come. VALUES P&G is its people and the values by which live. We attract and recruit the finest people in the world. We build ourorganization from within,  promoting and rewarding people without regard to any difference unrelated to performance. We act on the conviction thatthe men and women of Procter & Gamble will always be our most important asset. LEADERSHIP    We are all leaders in our area of responsibility, with a deep commitment to deliver leadership results    We have a clear vision of where we are going.    We focus our resources to achieve leadership objectives and strategies.    We develop the capability to deliver our strategies and eliminate organizational barriers. OWNERSHIP    We accept personal accountability to meet our business needs,improve our systems, and help others improve their effectiveness.     We all act like owners, treating the Company's assets as our own and behaving with the Company's long-term success in mind. INTEGRITY    We always try to do the right thing.    We are honest and straightforward with each other.    We operate within the letter and spirit of the law.    We uphold the values and principles of P&G in every action and decision.    We are data based and intellectually honest in advocating proposals, including recognizing risks. PASSION FOR WINNING    We are determined to be the best at doing what matters most.    We have a healthy dissatisfaction with the status quo.    We have a compelling desire to improve and to win in themarketplace. TRUST    We respect our P&G colleagues, customers, and consumers, andtreat them as we want to  be treated.    We have confidence in each other's capabilities and intentions.    We believe that people work best when there is a foundation of trust.   CASH FLOW STATEMENTS OF “ P & G ”  FROM 2006-2010    Cash and cash equivalents ,beginning of the year 4,781 3,313 5,354 6,693 6,389 Operating activities  Net earnings 12,736 13,436 12,075 10,340 8,684 Depreciation & amortization 3,108 3,082 3,166 3,130 2,627 Share-based compensation expenses 453 516 555 668 585 Deferred income taxes 36 596 1,214 253 Gain on sale of businesses (2,670) (2,377) (284) - - Change in A/R (14) 415 432 (729) (524) Change in inventories 86 721 (1,050) (389) 383 Change in A/P, accrued and other liabilities 2,446 (742) 297 (273) 230 Change in other operating assets and liabilities (305) (758) (1,270) (157) (508) Other 196 30 (127) 592 10 Total operating activities 16,072 14,919 15,008 13,435 11,375 Investing activities Capital expenditure (3,067) (3,238) (3,046) (2,945) (2,667) Proceeds from assets sales 3,068 1,087 928 281 882 Acquisitions, net of cash required (425) (368) (381) (492) 171 Change in investments (173) 166 (50) 673 884 Total investing activities (597) (2,353) (2,549) (2,483) (730) Financing activities Dividends to shareholders (5,458) (5,044) (4,655) (4,209) (3,703) Change in STD (1,798) (2,420) 2,650 8,981 (8,627) Additions in LTD 3,830 4,926 7,088 4,758 22,545 Reductions of long term debt (8,546) (2,578) (11,747) (17,929) (5,282) Treasury stock purchase (6,004) (6,370) (10,047) 1,499 1,319 Impact of stock options and other 721 681 1,867 (5,578) (16,830) Total financing activities (17,255) (10,814) (14,844) (12,478) (10,578) Effect of exchange rate changes on cash and cash equivalents (122) (284) 344 187 237 Change in cash and cash equivalents (1,902) 1,468 (2,041) (1,339) 304 Cash and cash equivalents , end of the year 2,879 4,781 3,313 5,354 6,693 2010 $ 2009 $ 2008 $ 2007 $ 2006 $
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