...Financial Accounting SUMMER SCHOOL 2015 BUSINESS REPORT Content Executive summary Introduction Background and achievement Recent trends and approach taken by South Africa Analysis of implication and impediments of <IR> and a position statement Executive Summary The purpose of this report is to provide a concise background on the objective and technical development of Integrated Reporting and key achievement to date, a summary of recent trends in adoption of Integrated Reporting which including the approach taken by South Africa, an analysis of any implications and impediments of Integrated Reporting and a positon statement of how these might affect adoption in Australia. Introduction Integrated Reporting is a process in which the value creation of a periodic integrated thinking, in a periodic report, is created by the value creation of the periodic report of the value creation (Adams & Simnett, 2011). The organization uses the integrated report to convey a clear, concise, and complete story, stating that all of their resources are of value creation. Integrated Reporting is to help companies carefully consider their strategies and plans to make informed decisions and management of key risks, to establish the confidence of investors and stakeholders and improve future performance (INTEGRATED REPORTING<IR>, 2015). This is a diverse alliance, including the evolution of business leaders and investors to promote the global business report. Background...
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...ACCOUNTING REPORT PREPARED BY BENJAMIN ARNOLD STUDENT ID: 1209002 MODULE NAME: INTRODUCTION TO ACCOUNTING MODULE CODE: AC4002 CONTENTS Introduction …………………………………………………………………………………………………………………………..03 The Income Statement of King Charles Fittings ……………………………………………………………………… 03 The Statement of Financial Position of King Charles Fittings …………………………………………………..04 Analysis of financial position ………………………………………………………………………………………05 A short report of accounting ………………………………………………………………………………………………….06 Accounting concepts ……………………………………………………………………………………………………………..08 The main accounting professional bodies ………………………………………………………………………………08 Comparison and contrast ……………………………………………………………………………………………………….09 Similarities and differences of the accounting professional bodies ………………………………………..09 References ……………………………………………………………………………………………………………………………..10 INTRODUCTION This is a report of about accounting that will look at two financial statements of King Charles Fittings, income statement and the statement of the financial position, a short report and commentary of accounting bodies listing their similarities and differences . King Charles Fittings Income Statement for the year ended 31 December 2013 £ £ 000 000 Income (Sales) ...
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...Accounting Report Josephine Speigner BCOM/230 May 8, 2014 Professor Fran Carter Accounting Report To: Marketing Manager From: Account Manager Attention: John, Marketing Manager; report of the Accounting Manager I have performed the duties of Accounting Manager to ABC Company for the year ended 31 December 2013 as requested by you. The annual financial statements listed below are the responsibility of the members. No audit is required and no audit was conducted. Accordingly, I do not imply or express an opinion or any other form of assurance on the annual financial statements. I have determined that annual financial statements are in agreement with the accounting records, summarized in the manner requested, and have done so by performing such procedures and conducting enquiries in relation to the accounting records as I considered necessary in the circumstances. I have also reviewed the accounting policies, which have been presented to me as having been applied in the preparation of the annual financial statements and I consider that they are appropriate to the business. In addition to the duties of Accounting Manager as required by the ABC Company, I have performed the procedures agreed with you and described below. The procedures were undertaken in accordance with the International Standards on Related Services applicable to the Engagement to perform agreed upon procedures regarding financial information. The responsibility for determining the adequacy or otherwise...
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...A set of financial statements for a company includes three related accounting reports. These reports are called; Statement of Financial Position, Income Statement, and Statement of Cash Flows. A statement of financial position, also known as a balance sheet, displays the financial position of a company at any given date/time. It consists of three key categories: assets, equity, and liabilities. Statement of financial position aids the users of these statements in evaluating the financial reliability of a company in terms of its risk; financial, credit, and business risk. These statements can help identify underlying trends in the financial position of the company which would assist the manager. The investor would be interested in determining the company’s financial risk. An income statement is a summary of performance as reflected in its profitability (or lack thereof) of a company over a certain time. The income statement accounts all profits for a business during this given period (monthly, quarterly or annually), as well as the operating overhead cost for the business. This would assist a manager because he/she would be able to determine the operating performance of the business over a period of time. The investor would likely be looking at the same information as a manager, but using it to determine if the company is making money or losing money. Statement of cash flows describes the cash flow into and out of the business. Its specific emphasis is on the types of activities...
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...Accounting Summary Report Angelique Gares BUS599 Introduction to Quantitative Principles Dr. Raju Singh April 12, 2010 . This report is the study of a six day season of a company Tropical Thirst’s lemonade stand and to create a journal of its transactions and produce an income statement and balance sheet into the operation of the business. The summary report will explain the nature of the business based on the number as it relates to the health of the operation. Based on the findings of the report, there are some recommendations as to how to best improve the operations of the business that is can be more successful. Tropical Thirst is a two person partnership with an initial capital of $20.00 each primarily for the sale of lemonade refreshing drinks. The transaction in the journal tells whether it’s an income statement account or a balance sheet amount. For example anything that is cash inventory, purchase of an asset, example equipment, are permanent account that goes into the balance sheet. The transactions then include revenue and expenses, example supplies used are temporary accounts that form the income statement. The income statement reports a company’s revenues and expenses along with the resulting net income or loss ( cited in ROSS. Custom book for Ashford: BUS599: MBA Essentials. McGraw-Hill. pg. 27). From the company income statement, they generated revenues of $185.90 from a six day period from a total expense and supplies of $59.95 and produce a total net...
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...Comparing Financial Reports Using the Form 20F Reconciliation Annie has been hired as an analyst for a relatively small investment company and has had several discussions with her new employer who is interested in expanding its investment options to include more international firms. One issue that Annie has brought up with her boss in their discussions is many investors’ unfamiliarity with financial reports prepared based on accounting standards other than US GAAP. While Annie’s employer seems to appreciate her concerns, Annie has asked you to help her prepare a report for her boss to examine and to use when he needs to explain the issues to the company’s clients. Annie has already located a number of popular press items that she will use to gain a general sense of where US GAAP and IFRS differ. However, she is concerned that she will need more direct information to provide to her employer in order to help him understand the issues at hand. She has examined a number of companies that report using IFRS, but is not sure how to use those reports to help her illustrate her concerns. She has asked you to help her prepare some information that she might use to help her boss better understand the impact on financial reports of using IFRS versus US GAAP. Given the importance of various ratios in financial ratios, you have decided to calculate several commonly used financial ratios using values taken from a company that prepares it financial reports using US GAAP and one...
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...Business Report | An Analysis of Business Performance of Galactic Marketing Agency | | | | 5/8/2013 | Minti Spock, Galactic Marketing Agency | Executive summary This report provides the analysis and evaluation of the financial performance of Galactic Marketing Agency for October 2013. The information provided in this report will be based on the data presented in the two primary financial statements: * balance sheet * income statement The results of data presented show that Galactic Marketing Agency is operating at a satisfactory level. In particular, the profit generated by the business for the month is very favorable, as is the changes in owner’s equity. Recommendations have also been made to address the issues that have arisen. Table of contents Executive Summary……………………………………………………………………………………………………………….2 1.0 Introduction……………………………………………………………………………………………………………………..4 2.0 Financial Analysis...…………………………………………………………………………………………………………..4 3.0 Conclusion……………………………………………………………………………………………………………………….5 4.0 Recommendations…………………………………………………………………...………………………………………5 1.0 Introduction After analysing the October financial statements of Galactic marketing Agency, this report has been prepared for the business regarding the business performance analysis for October 2013. The aim of this report is to provide the owner of Galactic Marketing Agency an overview of the business performance for October in order to facilitate the decision...
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...profitability of Thorntons plc at the operational level in 2011 Executive Summary 2011 proved to be a difficult year for Thornton’s PLC. Despite a slight increase in overall revenues, both the gross profit margin and operating profit margin decreased considerably compared to 2010, due to rises in both fixed and variable costs. Return on Capital Employed also fell, compounding doubts about the group’s profitability, although Asset Turnover did improve, consistent with strong top-line performance driven by efficiency gains in manufacturing operations. Analysis of operational profitability This report seeks to examine the profitability of Thornton’s PLC, at the operational level, in 2011. Four performance indicators are considered: Gross Profit Margin, Operating Profit Margin, Return on Capital Employed and Asset Turnover. These measures, considered together, serve to highlight different aspects of the company’s performance. Gross profit margin The gross profit margin decreased from 49.66% in 2010 to 46.16% in 2011; this was due to a higher percentage increase in COGS (the cost of goods sold) than in sales revenue. Thornton’s management has attributed the decline to the following five factors: (i) A significant rise in commercial sales as a proportion of total sales - because these sales are made at wholesale prices, less profit is made after deducting COGS; (ii) A drive towards lower-margin products in both own-store and commercial...
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...Profits: Accounting Report: Mr. Alan Longer’s “Revive Marketing” Submission Date: May 6th, 2014 Submitted to: Mr. Alan Longer Owner of Revive Marketing Submitted to: Mr. Alan Longer Owner of Revive Marketing Submitted by: Diogo De Sousa Silvério 08735093 Chris Lam 08696055 Submitted by: Diogo De Sousa Silvério 08735093 Chris Lam 08696055 Executive Summary: The purpose of this report is to provide documented evidence for the business owner, Mr. Alan Longer of how his company Revive Marketing has performed during the month of April. Subsequent to the report, recommendations will be established in order for Revive Marketing to reach greater heights of success in the future. Furthermore, conclusions and discussions will also be examined to identify the company’s prosperity. Table of Contents 1.0 Introduction1 1.1 Purpose of the Report1 1.2 Issues to be discussed and their significance1 1.3 Limitations and assumptions..………………………………………………..1 2.0 Discussion1 2.1 General1 2.2 Income Statement2 2.3 Balance Sheet………………………………………………………………......……2 2.4 Future of the Business…..……………………………………………………….2 3.0 Conclusion…………………………………………………………………..……....2 4.0 Recommendations………….………………………………………………......2 5.0 Reference…………….……………………………………………………………...3 6.0 Data………………………………………………………………………………….4-6 1.0 Introduction 2.1 Purpose of the Report This...
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...REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholders of Apollo Shoes, Inc. We have audited the accompanying balance sheets of Apollo Shoes, Inc., as of December 31, 2006 and 2005, and related statements for each of the years in the two-year period ended December 31, 2005. We have also audited management’s assessment including the Management’s Report on Internal Control over Financial Reporting, maintained by Apollo over the Financial reporting as of December 31, 2006, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. The management of Apollo shoes is responsible for maintaining effecting internal control over financial reporting, its assessment of internal controls and for the financial statement. The responsibility of our firm is to express an opinion on the financial statements, an opinion on management’s assessment, and an opinion on the effectiveness of Apollo Shoe’s, Inc. internal controls over financial reporting based on our audit. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (PCAOB). These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether there are effective internal controls in place over financial reporting. The audit of the financial statements...
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...Tax invoice Account number Invoice number Date of issue 805477794 1099864915 8 Apr 2014 Vodafone Pty Ltd ABN 76 062 954 554 1320021212120122100122222222222312011311002311011302323122110300113 MISS ABEGAIL RAVAGO 43 SPRING STREET TULLAMARINE VIC 3043 Your account Last bill Previous balance You paid Balance $106.09 $106.09 CR $0.00 This bill Billing period New charges Includes GST of $10.98 07 Mar - 06 Apr 2014 $144.79 Direct debit on 30 Apr 2014 Total due $144.79 Payments received after 6 Apr 2014 will show on your next bill. How you're spending $144 $111 $106 Thanks for paying by direct debit. Please make sure you have enough funds in your account by the due date to avoid a dishonour fee of $15.00 (plus GST) and late payment fee of $10.00 (No GST) Feb Mar Apr Need a little help? Go to vodafone.com.au/billexplainer or support.vodafone.com.au Call us on 1555 free from your Vodafone mobile, or 1300 650 410 (at local rates from a landline service) Your bill includes your minimum monthly spend in advance. It may show extra charges if you go over your plan allowances or use services that aren't included in your plan. If this is your first bill on this plan, the total amount due will include your minimum monthly spend adjusted for the part month you've already been connected, plus your usual minimum monthly charge in advance. page 1 of 12 })@Ç!!/PÂ!!!qWnpIr~ Account no: 805477794 Invoice no: 1099864915 Direct debit on 30 Apr 2014...
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...Ford Annual Report 2013 Financial Accounting 1. Alan R. Mulally wrote to the stockholders from Ford. He is the President and Chief Executive Officer of the Company. 2. Ford is excepting 2014 to be another solid year. In 2014 Ford has a record number of new product launches. Ford is providing quality cars and trucks worldwide and is ready for the payoff to be higher in 2015 and the years to come after that. Fords sales will improve worldwide. Ford is projected to make anywhere between $7 billion to $8 billion pre-taxed profit. The ford plan is driving solid results and profitable growth for all, and we are confident it will continue to do so in the future. 3. During this past year Ford is showing some financial highlights. 4. Ford’s Eco Boost Engine was the reason for the Companies growth and was a major part of the financial highlights. Ford vehicles had an average contribution margin of about 130% total average contribution margin across all vehicles. 5. The highlighted items show the company in a growing positive light. Ford is building more fuel efficient vehicles and that’s a strong selling point. 6. Ford’s Fiscal year extends from January 1, 2013- December 31, 2013. This information can be found on their balance sheet. 7. The reason that Ford chose this as their fiscal year is because Ford files its 10-ks for the end of December every year. 8. Ford reports dates on its balance sheet for March 31, 2013, June 30, 2013, September 30, 2013, and December 31, 2013...
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...Contents 1. Introduction 3 2.0 The effect that each proposed price might have on the attitude of Reading’s management toward intracompany business 3 2.1 Assessment of pricing methods 4 2.2 Should corporate management become involved in this transfer pricing controversy? 6 3.0 Conclusion 7 4.0 References 8 Introduction This report entails the issues faced by Reading and Millwall in their negotiations with particular focus in how they can come to an agreement on a price that is satisfactory to both divisions. It addresses the effects of each proposed price on Reading’s attitude towards intra-company business; whether the negotiation of a price approach is satisfactory and also advises on whether the corporate management should get involved in this transfer pricing controversy and help to bring about a reasonable settlement. 10 The effect that each proposed price might have on the attitude of Reading’s management toward intracompany business Each one of the three prices involved in this case will have an effect on the attitude of Reading’s management towards intracompany business. The prices involved are the buying management’s (Millwall), the selling management’s (Reading) and the corporate management’s. Reading management’s price proposal is the regular selling price less variable selling and distribution expenses. This means that...
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...A business report on accounting Many companies across the world have introduced the business literacy program in their organisation in order to ensure to improve the performance within the organisation by means of pay per performance programs and it is very clear that the success of this program or even any other program is possible only once the employees are aware about the program and can work accordingly. Many big concerns like the Soft Drink Giant PepsiCo has been making use of Visual to conduct the learning program for their employees in order to initiate the success of the new ideas within the context of the company. Many leaders and managers in the company prefer to align the educational system and its offerings with the goals and objectives of the organisation which is not an easy task to do, so it is a must that communication initiates are reinforced along with proper training and education so that this will help the employee to understand the goals of the organisation very clearly and also develop their skills and motivate them to contribute and perform at their best. The leaders have to draw a clear picture by means of literacy programs in order to ensure that the employees are very clear and work form heart and soul and also for rewards obviously. Learning and its relationship to the Organisation Even if an organisation concludes that learning provides the answer to its further development it has to consider, not only the approach, but also how people learn in...
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... UNCLASSIFIED SECURITY CLASSIFICATION OF THIS PAGE REPORT DOCUMENTATION PAGE lb RESTRICTIVE MARKINGS Ia.REPORT SECURITY CLASSIFICATION Unclassif led 2a. SECURITY CLASSIFICATION AUTHORITY 3. DISTRIBUTION /AVAILABILITY OF REPORT 2b. DECLASSIFICATIONiDOWNGRADING Approved for public release; distribution is SCHEDULE unlimited. 5. MONITORING ORGANIZATION REPORT NUMBER(S) 4. PERFORMING ORGANIZATION REPORT NUMBER(S) 6a. NAME OF PERFORMING ORGANIZATION 6b. OFFICE SYMBOL 7a. NAME OF MONITORING ORGANIZATION (If applicable) I Code 37 Naval Postgraduate School Naval Postgraduate School 7b. ADDRESS (City, State, and ZIP Code) 6c. ADDRESS (City, State, and ZIPCode) Monterey, Ca. Monterey, Ca. 94943-5000 9. PROCUREMENT INSTRUMENT IDENTIFICATION NUMBER A 8b. OFFICE SYMBOL (If applicable) 8a. NAME OF FUNDING/SPONSORING ORGANIZATION 93943-5000 10. SOURCE OF FUNDING NUMBERS 8c. ADDRESS (City, State, and ZIP Code) PROGRAM ELEMENT NO. WORK UNIT ACCESSION NO. TASK NO. PROJECT NO. II. TITLE (Include Security Classification) * Automated Financial Management Information System for Navy Field Activity Comptrollers 12. PERSONAL AUTHOR(S) Tar Taylor, Shaun Kevin ShaunE OFKevineoDa)IS 13b. TIME COVERED TO FROM 16. SUPPLEMENTARY NOTATION The views expressed in Master s Thesis ([fonthDay) ,4 DATE OF 13a. TYPE OF REPORT AE ON ,s PAGE COUNT i 110 this thesis...
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