Accounting Essay Example | Topics and Well Written Essays - 500 words - 23

Accounting - Essay Example The company is in a stiff competitive industry. Some of the Toyota competitors are general motors, Ford motors company, Nissan motors, Honda motor company and Volkswagen AG just to mention but a few. The financial statements in the year 2010 have shown a declining performance in Toyota performance. This has been attributed to the economic conditions in Japan, US, Europe and the other parts of the world. Despite the economic downturn the management of Toyota is still geared at ensuring customer satisfaction by putting first the interest of the customers and at the same time looking at the demands and expectation of the society by remaining socially responsible to all stakeholders. The company has undergone major restructuring in order to correct the disturbing performance. The company has also planned to manufacture reliable and cheap car models that are environmentally compliant to gain market power. According to the financial report of 2010, the company 2010 total asset amount ed to $326196 million while the total liability for this year was $208715million dollars. The net stockholders equity was $117481 million (Toyota 63). These values are adverse compared to the 2009 financial performance. For instance, the total asset in 2009 was 29062037milion yen. The revenue for 2010 as per the income statement was $190507 million and the net profits attributed to the corporation were $2251million (Toyota 62). The basic earnings per share for this particular period was $ 0.72 a value equivalent to the diluted EPS. It must be noted that this profit values are an improvement when compared to the year 2009 where the company incurred a net loss in their income statement. The improved result is attributed to the reduction in cost of manufacturing and operation as championed by the