midterm examination multinational corporation microsoft

MINISTRY OF EDUCATION AND TRAINING IN HCMC UNIVERSITY OF ECONOMICS AND FINANCE MIDTERM EXAMINATION MULTINATIONAL CORPORATION MICROSOFT Lecturer : Tu Cao Anh Team members: Nguyen Ngoc Hoang Vy - 195082396 Bui Thi Kim Yen - 195080096 Dao Nguyen Huyen Vy – 195080101 Huynh Le My Huyen – 195021112 Nguyen Tan Khoa - 195041735 HO CHI MINH – 2022 TABLE OF CONTENT Company Introduction 1.1 History of the development of Microsoft Corporation .4 1.2 Organizational structure 1.3 Vision, mission 1.4 Business areas .7 Global Report Vietnam Report 13 Corporate Governance (Policy) 18 4.1 Board of Director .18 4.2 Operation of Microsoft 21 4.3 Microsoft assesses and manages risk across the enterprise .22 Financial risk management 24 5.1 Mitigate the risk by derivatives 24 5.2 Monitoring thousands of bank accounts, and providing just-in-time cash manahement on a global basis by The Microsoft Treasury 28 Conclusion 29 Reference 32 Lists of Table Table Financial Highights Table The components of basic and diluted EPS .11 Table ROE & ROA 12 Table Provide Board of Director 19 Table The notional amounts of Microsoft's outstanding derivative instruments measured in U.S dollar equivalents 27 Table Presenting Microsoft’s derivative instruments .27 Table of Figures Figure Board of Director 18 Figure Microsoft 365 risk management program 23 Table of Chart Chart Gross margin Chart EPS 11 Chart ROE ranking (MSFT) 12 Chart ROA ranking (MSFT) 13 midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corpo ration.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multin ational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft Company Introduction Microsoft is an American multinational corporation headquartered in Redmond, Washington; specializes in the development, production, sales of software copyrights and support for a wide range of computer-related products and services The company was founded by Bill Gates and Paul Allen on April 4, 1975 In terms of revenue, Microsoft is the largest software manufacturer in the world It is also called "a of the most valuable companies in the world" In 2000, Steve Ballmer replaced Gates as CEO, reorienting the company to "equipment and service" strategy The change began with the merger of Danger Inc In 2008, the company entered the computer manufacturing market for the first time in 2012 with launched the Microsoft Surface tablet, and then founded Microsoft Mobile after acquiring Nokia's devices and services business But since Satya Nadella took over as CEO in 2014, they've shifted their focus from hard manure to cloud computing services, and that's brought the company's value to its highest level since December 1999 The market share of Microsoft products always accounts for nearly 90% of the world market This has shown the power of this leading software empire.n[CITATION HaN221 \l 1066 ] 1.1 History of the development of Microsoft Corporation • April 4, 1975: Microsoft was founded by Bill Gates and Paul Allen under the name MicroSoft • January 1979: Company moved to Bellevue, Washington • 1980: Company operating system with Unix version, called Xenix • November 1980: Received an agreement to supply the CP/M operating system used in personal computers from IBM • August 1981: Microsoft retains ownership of MS-DOS • 1983: Market expansion with the release of the Microsoft Mouse In that year, co-founder Paul Allen resigned due to health reasons • August 1985: Release of Microsoft Windows, graphical expansion for MS-DOS 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ration.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft 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ational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft • March 13, 1986: The stock price increased sharply, helping the company's management to become billionaires and millionaires • April 2, 1987: Release of OS/2 version to original equipment manufacturers (OEMs) • 1990: Introduced the Microsoft Office suite of office applications • May 22, 1990: Windows 3.0 Released • May 26, 1995: Expanding product line to computer network and World Wide Web • 1996: Released Windows CE • January 13, 2000: Bill gates awarded the CEO position to Steve Ballmer • October 25, 2001: Released Windows XP • January 2007: Released Microsoft Office 2007 and subsequent version Windows – Vista • June 27, 2008: Bill Gates retires and holds the position of technical advisor of the company • February 12, 2009: Opening a retail store under the Microsoft brand • Year 2010: improved mobile operating system Windows Mobile • October 2012: Release of Windows operating system • September 4, 2012: Released Windows Server 2012 • July 2012: Selling 50% stake in MSNBC.com • March 29, 2013: Xbox One console launch • February 4, 2014: Steve Ballmer stopped keeping the word CEO and replaced it with Satya Nadella On the same day John W Thompson took over as Chairman, replacing Bill Gates • April 25, 2015: Microsoft acquires Nokia devices and services for $7.2 billion • January 21, 2015: Announced the release of the Microsoft Surface Hub Interactive whiteboard midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corpo ration.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multin ational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft • July 29, 2015: Windows 10 is released • March 1, 2016: Announced merger of PC and Xbox divisions • February 20, 2019: Microsoft Corp provides network security service AccountGuard [CITATION Tha21 \l 1066 ] 1.2 Organizational structure Microsoft was founded by Bill Gates and Paul Allen on April 4, 1975, when they converted the programming language of the first mainframe computer into a language that could be used on the first personal computers and succeeded beyond imagination The first year profit was $16000 but by the 5th year it jumped to $7.5 million and expanded the business globally, establishing relationships with all the top computer manufacturers in the world, earning to nearly $150 million in 1985 Microsoft then went public while maintaining a staggering profit of 25% on sales Today, Microsoft has more than 115,000 employees and is continuing to make the computer's legacy feature in new ways [CITATION Vie21 \l 1066 ] However, few people know that Bill Gates is no longer the main leader of this famous multinational corporation The current chairman of Microsoft Corporation is Mr John W Thompson and CEO is Satya Nadella Bill Gates' current position at Microsoft is the company's technical advisor 1.3 Vision, mission Vision: “to help people and businesses throughout the world realize their full potential.” Mission: “to empower every person and every organization on the planet to achieve more.” Microsoft’s mission is to enable people and businesses throughout the world to realize their full potential They work to achieve this mission by creating technology that transforms the way people work, play, and communicate They develop and market sofware, services, and hardware that deliver new opportunities, greater convenience, and enhanced value to people 's lives -The tenets central to accomplishing their mission include: midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corpo ration.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multin ational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft well as over-the-counter swap and option contracts, to manage the average maturity of its fixedincome portfolio in order to achieve economic returns that correlate to certain broad-based fixedincome indices These contracts are not designated as hedging instruments and are included in “Other contracts” in the tables 5.1 According to table 5.1, as of June 30, 2021, the total notional amounts of fixed-interest rate contracts refer as “other contract” purchased and sold were $2.4 billion and $763 million, respectively As of June 30, 2020, the total notional amounts of fixedinterest rate contracts purchased and sold were $1.8 billion and $757 million, respectively 5.1.3 Equity Securities held in Microsoft equity investments portfolio are subject to market price risk At times, they may hold options, futures, and swap contracts, none of which are designated as hedging instruments Besides, from time to time, to hedge their price risk, Microsoft may use and designate equity derivatives as hedging instruments, including puts, calls, swaps, and forwards 5.1.4 Credit Microsoft's fixed-income portfolio is diversified and consists primarily of investment-grade securities They use credit default swap contracts to manage credit exposures relative to broadbased indices and to facilitate portfolio diversification These contracts are not designated as hedging instruments and are included in “Other contracts” in the tables 5.1 5.1.5 Credit-Risk-Related Contingent Features Certain Microsoft counterparty agreements for derivative instruments contain provisions that require their issued and outstanding long-term unsecured debt to maintain an investment-grade credit rating and require them to maintain a minimum liquidity of $1.0 billion To the extent they fail to meet these requirements, they will be required to post collateral, similar to the standard convention related to over-the-counter derivatives As of June 30, 2021, Microsoft's long-term unsecured debt rating was AAA, and cash investments were in excess of $1.0 billion As a result, no collateral was required to be posted 26 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June 30, June 2021 2020 $635 6,081 1,247 $635 6,754 1,295 14,223 23,391 2,456 763 11,896 15,595 1,844 757 30, (Source: Microsoft, 2021) Table Presenting Microsoft’s derivative instruments (In millions) Derivativ Derivativ Derivativ Derivativ e e e e Assets Liabilities Assets June 30, Liabilities June 30, Foreign exchange contracts Interest rate contracts $76 40 2021 $(8) $44 93 2020 $(54) Foreign exchange contracts Other contracts Gross amounts of derivatives 227 56 399 (291) (36) (335) 245 18 400 (334) (11) (399) Gross amounts of derivatives (141) 142 (154) 158 offset in the balance sheet Cash collateral received Net amounts of derivatives (42) $(235) $246 (154) $(395) $258 27 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ration.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multin ational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft Short-term investments $78 $0 $35 $0 Other current assets Other long-term assets Other current liabilities Other long-term liabilities Total 137 43 0 $258 0 (182) (53) $(235) 199 12 0 $246 0 (334) (61) $(395) (Source: Microsoft, 2021) Gross derivative assets and liabilities subject to legally enforceable master netting agreements for which we have elected to offset were $395 million and $335 million, respectively, as of June 30, 2021, and $399 million and $399 million, respectively, as of June 30, 2020.[ CITATION Mic21 \l 1066 ] 5.2 Monitoring thousands of bank accounts, and providing just-in-time cash manahement on a global basis by The Microsoft Treasury The Microsoft Treasury department is in charge of the company's assets, which include cash and investments, accounts receivable, stock, and other investments They serve as an in-house bank for 190 countries, monitor thousands of bank accounts, and provide global just-in-time cash management [ CITATION Jes17 \l 1066 ] Microsoft also manages a centralized treasury for approximately 450 subsidiaries in 118 countries In addition, the company has over 1,300 bank accounts more than 85 financial ties around the world [ CITATION Cit19 \l 1066 ] Each dollar maintained in a local subsidiary bank account is particularly vulnerable to counterparty risk, sovereign risk, currency fluctuations, fraud, and environmental issues Furthermore, Microsoft treasury wires about a billion dollars per month to support the operations of its foreign businesses As a result, with tons of unpredictable events in its subsidiaries including the war in Ukraine, the “Arab Spring” in Egypt and Libya, or “Hurricane Maria” in Puerto Rico, the company has been forced to deal with with frozen funds, strict forex controls, and limited banking hours For this reason, reducing risks associated with funds held outside of Microsoft's portfolios and ensuring that local Microsoft employees and partners are paid have become top concerns 28 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ational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft Specifically, to address such risks in the long run, Microsoft's treasury department has expanded its role within the company to develop strategies in order to ensure that partners in accounts payable, payroll, collections, and local finance have a strategic contingency plan in the event of political, economic, or environmental crises According to Jim Scurlock, Microsoft's head of cash management, the company has had a few incidents that have hampered their ability to move money across borders, but after seeing similar issues in other places, they have already focused on reducing their cash around the world and reducing counterparty and sovereign risks that could endanger their liquidity [ CITATION Wat19 \l 1066 ] Consequently, Microsoft Treasury initiated an effort to reduce cash levels while also developing a contingency action plan that various treasury groups could utilize to respond to operational-risk events Furthermore, on 11/2019, according to [ CITATION Aus19 \l 1066 ], Microsoft also chose BNY Mellon as the global custodian for its Treasury Group, which controls $130 billion in assets As its new custodian, BNY Mellon will offer a complex cross-business bundle of services, including custody, collateral management, performance measurement, and liquidity services, all of which will tailored to the company's cash portfolio needs Especially, Microsoft's global custody, collateral management, derivatives processing, institutional accounting, and foreign currency needs will all be served by BNY Mellon's platform By leveraging its selection of APIs, applications, and seamless access to third-party technology providers, BNY Mellon’s platform will allow Microsoft to optimize its resources and continue to leverage industry best practices In addition, BNY Mellon's strong intellectual capital and industry experience with large-scale implementations and aligning technological solutions with clients' business demands would also benefit Microsoft [ CITATION Aus19 \l 1066 ] Conclusion Microsoft Corporation is a technology company that deals with the sale of computer software and services It is publicly traded and is growing significantly since its inception The company has grown its income base over the past few years:  Fiscal 2018: revenue expenses increased steadily by 136%, with $13.827 billion changing 29 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ration.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multin ational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft  Microsoft began to have a higher-than-average gross margin with steady growth of 160% from $72.007 billion to $115.856 billion  Finance 2021: A $6.2 billion or 13% increase driven by growth in the commercial cloud and Gaming, partially offset by a reduction in depreciation costs due to the estimated useful life expectancy change of servers and network equipment  Microsft grew by $18.9 billion or 20% for fiscal year 2021 by growth across each segment and changes in estimated useful life of servers and network equipment  Cash from operations increased by $16.1 billion to $76.7 billion for fiscal year 2021, primarily due to an increase in cash received from customers, partially offset by an increase in cash paid to suppliers and employees  Cash used in finance rose $2.5 billion to $48.5 billion for fiscal year 2021, primarily due to a $4.4 billion increase in common stock buybacks and a $1.4 billion increase in dividends paid, partially offset by a $1.8 billion reduction in repayments and a $1.7 billion reduction in premiums cash paid on debt exchange  Cash used in investments increased by $15.4 billion to $27.6 billion for fiscal year 2021, primarily due to a $6.4 billion increase in cash used to acquire companies, net cash acquisitions and purchases of intangible assets and other assets, increased $5.2 billion in addition to assets and equipment, and reduced $4.1 billion in cash from net investment purchases, sales, and maturities Moreover, they serve as an internal bank for 190 countries, overseeing thousands of bank accounts and providing timely global cash management Microsoft also manages a centralized treasury for about 450 subsidiaries in 118 countries In addition, the company has more than 1,300 bank accounts over 85 financial relationships worldwide Microsoft has operations centers that support operations in their regions, including customer contract and order processing, credit and collections, information processing, and vendor management and logistics The regional center in Ireland supports the European, Middle Eastern, and African region; the center in Singapore supports the Japan, India, Greater China, and Asia-Pacific region; and the centers in Fargo, North Dakota, Fort Lauderdale, Florida, Puerto Rico, Redmond, Washington, and Reno, 30 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ration.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multin ational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft Nevada support Latin America and North America In addition to the operations centers, They also operate data centers throughout the Americas, Europe, Australia, and Asia, as well as in the Middle East and Africa Reference 31 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midterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multin ational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoftmidterm.examination.multinational.corporation.microsoft Austin, C (2019) Microsoft's Treasury Group switches to new global custodian The global treasurer Retrieved 2022, from https://www.theglobaltreasurer.com/2019/05/13/microsofts-treasury-group-switches-tonew-global-custodian/ Citibank (2019) Microsoft reaps rewards from holistic framework for mitigating business risk citibank Retrieved 2022, from https://www.citibank.com/tts/insights/case- studies/microsoft-adam.html 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