Annual Report

Assignment 1: Annual Report Project

Accounting 100

August 21, 2011

Wynn Resorts, Limited, Fiscal Year 2010

An annual report is a company's method of communicating to its stockholders and other interested parties its financial state for the fiscal year. It consists of a complete set of audited financial statements which summarize the financial results of the company as well as communicates the company's plans for the future. The 2010 annual report released by Wynn Resorts, Limited provides financial information for its four resorts, Wynn Las Vegas, Encore at Wynn Las Vegas, Wynn Macau and Encore at Wynn Macau. The annual report is broken into segments which allows separate reporting for its resorts in Nevada and China. This is important because the different geographic locations of the resorts mean different customer bases and different competition which can create significant financial discrepancies.

The annual report for any company is generally broken into standard portions. It includes the financial highlights, the letter to the stockholders, management's discussion and analysis, the financial statements, notes to the financial statements, management's report on internal control, management certification of financial statements, the auditor's report and supplementary financial information. Wynn Resorts, Limited has modified this traditional format slightly in that they did not include a letter to the stockholders, but opted to include a detailed description of the company which summarizes each of the resorts geographical location, amenities (casino, golf course, spa, etc.), awards and recognitions and market competition.

The financial highlights of the Wynn Resorts, Limited annual report and is titled “Selected Financial Data.” This portion of the report lists the major events that contributed the the financial data and of course the data itself. In the case of Wynn Resorts, Limited, the major events were resort openings,...