Marriott International, Inc Annual Report 2011
Accounting Principles 100
June 16, 2012
Marriott International, Inc., a leader in the hospitality industry, extended their attention to customer comfort to their intended annual report audience, and created a communication instrument that stands apart from most others in the typically dull arena of corporate reporting.
In 2011, note worthy endeavors included Global Growth which caused an increase in revenues and increase in franchises. Marriott opened 210 properties with nearly 32000 new rooms around the world. Their brand portfolio which consists of urban centers to resorts has something for everyone. Each brand has been designed to ...view middle of the document...
Be assured, that Marriott's financial reports are prepared in conformity with U.S. generally accepted accounting principles ("GAAP"). Balance Sheet information indicates the assets are comprised of mainly of hotel real estate managed by Marriott and has a balance of $3,159,000,000 and Liabilities of $2,532,000,000. Revenues show an increase of $6.26 million or 5% over the previous year of $11,691 million.
Management of Marriott International, Inc is responsible for the integrity and objectivity of the consolidated financial statements and any other financial information presented in any reports. Marriott developed and maintained a system of internal controls, policies and procedures including an internal auditing function. It is stated in the 2011 Annual Report, by management that the COSO criteria, as of December 30, 2011, that internal control over financial reporting was effective to provide reasonable assurance of the financial reporting and the preparation of financial statements for external purposes in accordance with the U.S....