...international capital market. Relevant and reliable financial information aids in making economic decisions relating to the reporting entity. Also enables its users to measure and quantify the economic and financial aspects of an enterprise. Kothari and Barone (2006:23) believe that 'accounting is becoming increasingly globalized'. However, ‘current accounting practice does not meet the information needs of capital market in the 21st century ’(View Point, 2007:1). To meet the diversified needs and expectations of the users a single framework of financial reporting is essential. Payne and Raagan (2008:15) also consider that 'A universal financial reporting standard would help participants in the world's capital markets and other users make economic decisions'. CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS Barth (2006) explains that the definitions of financial statement elements along with the objective and the qualitative characteristics of financial reporting are set by the conceptual framework. It is aimed at the current and prospective equity and debt capital providers to help them in their capital allocation decision. Consequently, the conceptual framework ensures relevant and reliable financial reporting and thus meets the need of shareholders and other users. It is an important element, which forms the frame of reference for financial reporting. It also establishes a theoretical basis for providing and evaluating new accounting standards. Stowley and Lebas (2002)...
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...Financial Reporting and Analysis DE5G 35 Assessment Exemplar for Higher National Unit DE5G 35: Financial Reporting and Analysis 1st edition: May 2004 Price: £20.00 Publication code: CB 1989 Published by the Scottish Qualifications Authority, Hanover House, 24 Douglas Street, Glasgow, G2 7NQ, and Ironmills Road, Dalkeith, Midlothian, EH22 1LE The information in this publication may be reproduced to support SQA qualifications. If it is reproduced, SQA should be clearly acknowledged as the source. If it is to be used for any other purpose, then written permission must be obtained from the Support Materials Development Officer at SQA. It must not be reproduced for trade or commercial purposes. © Scottish Qualifications Authority 2004 DE5G 35: Financial Reporting and Analysis Contents 1 2 3 Introduction How to generate evidence Assessment exemplar Scottish Qualifications Authority Assessment Exemplars for Higher National Units DE5G 35: Financial Reporting and Analysis 1 Introduction This pack must be used in conjunction with a copy of the Unit specification which details the standard of performance expected of the candidate. A copy of the Unit specification can be obtained from SQA. This pack supplements the assessment guidelines and support notes of the Unit specification. It aims to provide an example of assessment that is valid, reliable and practicable. The assessment task(s) detailed in this pack correspond to the assessment guidelines outlined...
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...Is Coach, Inc. The Next Investment? Table of Contents Section Page Number Executive Summary 3 Introduction 4 Background 4-5 Financial Analysis Results 5-6 Discussion of Results 7-14 Conclusions and Recommendations 14-15 References 16 Executive Summary This paper presents a recommendation to an investor as to whether or not he / she should invest in Coach, Inc. (Coach), a publicly traded company on the New York Stock Exchange (COH). Coach is a retail company specializing in luxury goods and accessories for both women and men. Although Coach has been a major player in the leather handbag industry for several years, it’s most recent shortfall against expectations could serve as an indicator of competitors gaining considerable market share and potentially introducing undesirable risk to an investor. The analysis in this paper will provide investment guidance by evaluating Coach’s financials statements and financial performance against its competition and industry. It will express how Coach’s most recent annual report in comparison to prior performance signifies investors should hold off from moving on Coach’s stock in the near future. Should You Invest in Coach? Introduction As an aficionada of women’s luxury accessories, I found myself turning to some more affordable luxury brands such as Coach in my early 20s. More than a decade later, I am still a major fan and consumer...
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...A bedside reporting can increase patient and family satisfaction, increase institutional value, and reduce health care costs. An actively involved patient and family are more likely to give high ratings on patient satisfaction survey with high regards to the patient care provided. Therefore, an institution’s values become standards of patient care that must be led by excellence, aim, and success in obtaining goals. On the other hand, nurse satisfaction is as much as important as the patient and family satisfaction. A highly satisfied nursing staff may not easily get burned out to high stresses and enhance nursing staff retention. A retrospective analysis before the implementation of bedside reporting showed that nurses stayed a total of 1,421 hours, or 100 hours per month (range = 67-137 hours), past their clock-out times between the months of October 2006 and April 2007 (Tidwell, Edwards, Snider, Lindsey, Reed, Scroggins, & Brigance, 2011). Tidwell et al., (2011), and colleagues concluded that nurses were less likely to work overtime once the bedside reporting was implemented and this in return, reduced an institution’s cost tremendously. After the implementation of the bedside reporting, nurses worked 923.5 hours that saved US$12000 for a year (Tidwell et al., 2011). A bed side...
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...Financial Reporting and Analysis Course Objectives: The course focuses on basic techniques of Financial Accounting. It has been designed to enable the students to prepare, comprehend and analyze corporate financial statements. The course is designed to provide an understanding of the role and relevance of accounting function in an organization and also the basic concepts, techniques and methodologies relevant to accounting function. Course coverage includes: Preparation, understanding of financial statements including Cash Flow statements of Corporate Organizations, Accounting of Property Plant and Equipment, and Analysis of Published Annual Reports with respect to various financial ratios. Current Developments like New Schedule VI has been incorporated in the course structure. This course, therefore, endeavors to develop students with the following specific objectives 1. To develop an understanding of the nature of accounting and its role in business decision-making. 2. To prepare, comprehend and analyze financial statements demonstrating both technical and analytical capabilities. 3. To develop a working knowledge of using Annual Reports. 4. To demonstrate techno-savvy capabilities to manage integrated environments. Pedagogy The course shall be delivered essentially through a fusion of lectures, exercises, and by discussing real life financial statements to develop student’s ability to read and analyze them. Total 20 sessions of 1 hr 15 minutes each would be conducted...
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...Financial Reporting and Analysis ChapterÊ12ÊSolutions Income Tax Reporting Exercises Exercises 1. Determining current taxes payable (AICPA adapted) The amount of current income tax liability that would be reported on Ross Co.’s December 31, 1998, balance sheet is determined as follows: Net income before depreciation expense and income taxes $100,000 Depreciation expense (for tax purposes) (20,000) Taxable income 80,000 Tax rate 30% Current income tax liability $24,000 2. Determining deferred tax liability (AICPA adapted) To determine the deferred income tax liability reported on the December 31, 1999, balance sheet requires a calculation of the cumulative temporary (timing) differences that give rise to future taxable amounts as of that date. Gross margin temporary differences are as follows: (Book purposes) (Tax purposes) Temporary Differences Year Accrual Method Installment Method (Future Taxable Amount) 1998 $800,000 $300,000 $500,000 1999 1,300,000 700,000 600,000 Total temporary differences as of 12/31/99 $1,100,000 Tax rate in effect when differences will reverse 25% Deferred tax liability on 12/31/99 $275,000 3. Determining deferred tax liability (AICPA adapted) Tow’s deferred tax liability for December 31, 1998, is computed as follows: | |Reversal of | ...
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...1.1 Describe the different users of financial statement and their needs. Financial Statements represent a formal record of the financial activities of an entity. These are written reports that quantify the financial strength, performance and liquidity of a company. Financial Statements reflect the financial effects of business transactions and events on the entity. Types of Financial Statements They are three (3) types of financial statements, this are; 1) Statement of Financial Position Statement of Financial Position, also known as the Balance Sheet, presents the financial position of an entity at a given date. It is comprised of the following three elements: Assets: Something a business owns or controls (e.g. cash, inventory, plant and machinery, etc.) Liabilities: Something a business owes to someone (e.g. creditors, bank loans, etc.) Equity: What the business owes to its owners. This represents the amount of capital that remains in the business after its assets are used to pay off its outstanding liabilities. Equity therefore represents the difference between the assets and liabilities. 2) Income Statement Income Statement, also known as the Profit and Loss Statement, reports the company's financial performance in terms of net profit or loss over a specified period. Income Statement is composed of the following two elements: Income: What the business has earned over a period (e.g. sales revenue, dividend income, etc.) Expense: The cost incurred by the business...
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...Assess the financial performance and position of Venice Ltd for the year ended 30 September 2011 compared to the previous year. Your answer should also refer to the information in the Chief Executive’s report and the impact of the purchase of the net assets of Roma Company. Chief Executive’s report To: Management From: Accountant Date: 7 December 2011 Subject: Financial Appraisal of Roma Company using Accounting Ratios Introduction The purpose of this report is to analyze the financial performance of Venice Ltd for the year ended 30 September 2011 compared to the previous year using the accounting ratios, and impact of the purchase of the net assets of Roma Company. The report specifically comments on the following ratios. 1) Return on year-end capital employed 2) Net assets turnover 3) Net profit margin 4) Current ratio 5) Closing inventory holding period 6) Trade receivables’ collection period 7) Trade payables’ payment period 8) Gearing The report also highlights of Venice’s performance for the year ended 30 September 2011: Return on capital employed Capital employed and operating profits are the main items. Capital employed may be defined in a number of ways. However, two widely accepted definitions are "gross capital employed" and "net capital employed". Gross capital employed usually means the total assets, fixed as well as current, used in business, while net capital employed refers to total assets minus liabilities. On the other hand, it refers...
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...Analysis of Unilever Financial Reporting Introduction Annual report is an exhaustive report which has involved a firm’s activities throughout the last year. It purposes to show the corporate activities and financial performance to both the shareholder and those people who are interesting in their corporation. However, it is crucial for the stock watcher doing their due diligence every year from the analysis of a corporate annual report. Not only the growth rate they concerned, but also the prospect of their stocks, the investor need to consider it carefully before doing their decisions. The following content would give the analysis of Unilever’s annual report in 2009. It would give detailed information in relevant with the companies activities, financial performance and future prospects. The company’s activity Types of product & service Unilever is an Anglo-Dutch multinational corporation that owns many of the world's consumer product brands in foods, beverages, cleaning agents and personal care products. (Wikipedia) It provides fast-moving consumer goods in the world, mainly focus on three categories of products: nutritional foods, household and personal care. With a slogan “creating a better future every day”, this company always pays attention to innovation as well as effects of brands for their products. Unilever owns more than 400 brands as a result of acquisitions, however, the company focuses on what are called the "billion-dollar brands", 13 brands, each...
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...SFAS No. 131 (ASC 280) allows companies to report segment information by line of business, geographic location, or a combination of the two. Which of these does Pepsi do? What does Coca-Cola do? Pepsi reports segment information by a combination of line of business and geographic location, and so does Coca-Cola. The company has identified six reportable segments, which are Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), Latin America Foods (LAF), PepsiCo Americas Beverages (PAB), Europe, and Asia, Middle East & Africa (AMEA). Its best-known competitor, Coca-Cola, identified seven reportable segments: Eurasia and Africa; Europe; Latin America; North America; Pacific; Bottling Investments; and Corporate. Why does FASB require companies to disclose information by geographic area? In other words, how is geographic information valuable for financial statement users? For what geographic areas must a company provide disclosure? What geographic disclosures does Pepsi provide? What can you learn about PepsiCo from studying this information? The FASB requires companies to disclose information by geographic areas because financial information about the operations of the company’s divisions in different geographic areas assists stakeholders in understanding concentrations of risks and prospects for growth due to changes in economic conditions. Disclosure by geographic area assists stakeholders in understanding concentrations of risk due to all type of changes specific...
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...An Internship Report On Audit Procedure of UHY Syful Shamsul Alam & Co. and A Comparative Analysis on IFRS (IAS) and AAOIFI on Financial Reporting Issues Department of Finance Faculty of Business Studies University of Dhaka An Internship Report On Audit Procedure of UHY Syful Shamsul Alam & Co. and A Comparative Analysis on IFRS (IAS) and AAOIFI on Financial Reporting Issues (As partial fulfillment of BBA Program) Submitted To Department of Finance University of Dhaka Supervised By Taher Jamil Lecturer Department of Finance University of Dhaka Submitted By Md. Rased Mosarraf ID: 16-062 Department of Finance University of Dhaka Date of Submission: May 22, 2014. Letter of Transmittal May 22, 2014. Taher Jamil Lecturer Department of Finance University of Dhaka Subject: Submission of internship report. Dear Sir, I have the pleasure to submit an Internship Report after completing a successful three month Internship attachment at a CA firm named “UHY Syful Shamsul Alam & Co.” on “Audit Procedure of UHY Syful Shamsul Alam& Co. and A Comparative Analysis on IFRS (IAS) and AAOIFI on Financial Reporting Issues”. I have concentrated my best effort to achieve the objectives of the report and hope that my endeavor will serve the purpose. The practical knowledge and experience gathered during report preparation will immeasurably help in my future professional life. I will be obliged if you kindly approved this endeavor...
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...A Comparison and Contrast Analysis of United States Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) This paper examined the relationship between United States Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) and found merging both accounting standards into a worldwide standard is ideal for investors. Corporate financial statement requirements depend on location. The two accepted accounting standard systems are GAAP and IFRS. The differences between GAAP and IFRS are GAAP is rules-based and IFRS is principle-based. How can a worldwide accounting standard benefit the world economy? The answer depends on political will, culture, countries history, and business structure. Research indicated there are only slight differences between GAAP and IFRS. These slight differences must be explored further to predict the impact on companies, economic, and financial markets. GAAP and IFRS have to be reconciled as a worldwide accounting standard to efficiently allow investors to compare foreign companies. GAAP set the accounting standard for the United States since its inception in 1929. GAAP evolved over the last 60 years (Măciucă, Ursache, Moroşan, & Apetri, 2014). IFRS was established in 1973 (Smith, 2012). IFRS used GAAP as a source document for its standards, either to imitate, modify, or omit (Chevis, 2014). The European Union established IFRS as the standard in 2005 (Smith...
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...万科企业股份有限公司 CHINA VANKE CO.LTDS 090980122 朱雨嘉 090980123 张维璟 090980124 查玥琪 090980125 杨青钰 090980127 夏冰倩 090930116 缪苗 090960101 陈钰琳 090960105 陆旋 090980103 袁燕虹 090980104 林珊珊 090980118 周淑彦 目录 第一部分：公司简介………………………………………………………………………………………………4 第二部分：盈利能力分…………………………………………………………………………………………7 一、杜邦财务分析……………………………………………………………………………………………………7 1、万科杜邦分析图………………………………………………………………………………………………7 2、三大地产行业净资产收益率比较……………………………………………………………………………8 3、万科地产经营可持续性分析…………………………………………………………………………………8 二、每股收益与股利政策分析………………………………………………………………………………………9 1、万科2011年每股收益分析…………………………………………………………………………………9 2、万科股利政策…………………………………………………………………………………………………10 三、盈利稳定性分析………………………………………………………………………………………………………11 四、盈利含金量分析………………………………………………………………………………………………………12 五、盈利趋势分析…………………………………………………………………………………………………………13 第三部分：现金流量分析…………………………………………………………………………………………15 一、现金流量变动趋势……………………………………………………………………………………………………15 二、现金流量表的一般分析………………………………………………………………………………………………15 三、现金流量均衡状况分析………………………………………………………………………………………………16 四、经营活动现金分析……………………………………………………………………………………………………16 第四部分：偿债能力分析…………………………………………………………………………………………17 （1）短期财务安全性………………………………………………………………………………………………………17 （2）长期财务安全性………………………………………………………………………………………………………17 （3）短期流动性……………………………………………………………………………………………………………18 （4）综合分析………………………………………………………………………………………………………………18 第五部分：资产负债管理能力分析……………………………………………………………………………21 （1）资产经营效率…………………………………………………………………………………………………………21 （2）负债管理能力…………………………………………………………………………………………………………21 （3）财务灵活性……………………………………………………………………………………………………………22...
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...Chapter 2 Financial Reporting and Analysis REVIEW Financial statements are the most visible products of a company’s financial reporting process. The financial reporting process is governed by accounting rules and standards, managerial incentives, and enforcement and monitoring mechanisms. It is important for a user of financial information to understand the financial reporting environment along with the accounting information presented in financial statements. In this chapter, the concepts underlying financial reporting are discussed with special emphasis on accounting rules. Next the purpose of financial reporting is discussed – its objectives and how these objectives determine both the quality of the accounting information and the principles that underlie the accounting rules. The relevance of accounting information for business analysis and valuation is also discussed and limitations of accounting information are identified. Last, accrual accounting is discussed including the strengths and limitation of accruals, and the implications of accruals for financial statement analysis. OUTLINE | | |Financial Reporting Environment | |Statutory Financial Reports ...
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...Financial Statement Reporting and Analysis ACC-3303 Click Link Below To Buy: http://hwaid.com/shop/financial-statement-reporting-and-analysis/ Financial Statement Analysis Project You have done an excellent job for your company. The executives have been considering to promote you to a position with more responsibilities and higher pay. Whether you will have this promotion depends on your performance for this project the executives assign you to do. The specific tasks are: 1. Collect the most recent 10-K, including financial statements, their footnotes, and management discussion for one of the following primary firms: (Note: DON’T print out 10-K.) a. Merck & Co. Inc. (ticker: MRK) b. General Electric Co. (ticker: GE) Then, you need to find one major competitor of the firm you select above, and also download its most recent 10-K. You need to explain why you select this firmas the competitorfor your project study. In addition, you need to collect industrial benchmarks or ratios for the ratios you need to calculate (See 3 below), and to investigate what formulas from which these benchmarks are calculated. (5 points) 2. Summarize the management discussion and analysis. Pay close attention to the adjective terms in the description they use to excuse themselves from unsatisfactory performance. Do you think that the firm discloses its financial situation sufficiently? (15 points) 3. For the two companies (the primary and the competitor), do numerical...
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