Acc 280 Executive Summary

History of AT&T

The original American Telegraph and Telephone Company (AT&T) was founded on March 3, 1885, stemming from the Bell Telephone Company started by Alexander Graham Bell and his two financiers, Gardiner Greene Hubbard and Thomas Sanders. AT&T grew into a monopoly of the telephone business very rapidly. By 1907, the corporation had attracted the attention of antitrust regulators. So in an effort to avoid any antitrust action, AT&T made a deal to not acquire any additional independent phone companies.

The modern AT&T, which is headquartered in Dallas, Texas, became a corporation in 1984, as a result of an antitrust suit. It had changed its name and in 2005 changed back to AT&T using the iconic logo. The current AT&T, Inc. is traded on the New York Stock Exchange (NYSE) using the ticker symbol T, for “telephone”. AT&T is one of the 30 stocks that make up the Dow Jones Industrial Average. To date, AT&T, Inc. has approximately 258,870 employees worldwide.

Corporate Accounting

The Audit Committee of the Board of Directors of AT&T, Inc. is a committee appointed by the Board of Directors, and the Committee’s purpose is to assist the Board in oversight of:

1. The integrity of financial statements of the Company.

2. The independent auditor’s qualifications and independence.

3. The performance of the Company’s internal audit functions and independent auditors.

4. The compliance by the Company, with legal and regulatory requirements.

At the end of the 2010 annual reporting period, AT&T had approximately $1.98 billion in cash and cash equivalents and at the end of the 2009 annual reporting period AT&T had $1.21 billion.

References

AT&T.com. (2011). AT&T Company Information. Retrieved from http://www.att.com/gen/investor-relations?pid=5711

Stock Analysis on Net. (2011). AT&T, Inc. Liabilities and Stockholders' Equity. Retrieved from...