...Financial Statements Paper ACC/290 Income statements chronicle the gains or deficiencies of a company’s operations over a period of time, by reporting all revenues and expenses. These statements are processed each month, and at the end of the fiscal year. Income statements include definite expenses and revenues. Sometimes these statements are also known as P&L statements or profit and loss. The second statement is known as a retained earnings statement. This is for displaying the beginning balance of retained earnings and adjustments during the course of the year. The statement usually includes beginning balance, net income for the current cycle, dividends disclosed in the current period and ending balance. Balance sheets detail assets and claims to assets at a distinct point in time. Claims of creditors and claims of owners are examples of claims to assets. This particular statement provides a clear outline of the financial standing of the company as a whole. The direct function of a statement of cash flow is to present financial information such as cash receipts and payments during a set point in time. This assists investors and creditors to analyze a company’s financial position.. These statements address a company’s financing, investment and operational activities. Financial statements are useful to managers as these statements are utilized to measure the performance of the organization. Sales and expenses are compared to the income statements...
Words: 485 - Pages: 2
...Accounting period: the annual reporting period (or fiscal year) Accounting priciples: are fundamentals theories, truths and propositions that serve as the foundation for financial accounting and reporting Accounting standards: establish the authoritative guidance on how companies should account for and report specific transactions events and arrangments in their financial statements Accrual accounting: measures the reports and economic effect of a companies transactions evente etc in the periods in which those effects occurred, even if the cash recipt and payment occured in a different period Accruals: when economic effects are recognized in the current period, even though the cash flows will occur in a later period they are reffered as accurals Business cycle: is the yearly period from the lowest sales through highest sales and back to lowest sales. Comparability: of accounting information helps identify and explain similarities and differences between two or more sets of economic facts Complete representation: provides users with full disclosure of all the information necessary to understand the information being reported, with all necessary facts, descriptions and explanations Conceptual framework: is a foundation of objectives, concepts, priniciples, and definition that leads to high quality financial accounting standards and the appropriate application in accounting practice. confirmatory value: if it provides feedback to confirm or correct prior prediction and expectations ...
Words: 743 - Pages: 3
...TABLE OF CONTENTS EXECUTIVE SUMMARY 2 PROBLEM STAEMENT 3 SITUATION ANALYSIS 3 Background 3 Objectives and Goals 3 SWOT Analysis 4 MARKET ANALYSIS 4 Marketing Mix 4 COMPETITION ANALAYSIS 5 External Environment (PESTE) 5 CONSUMER ANALYSIS 6 Positioning Map 7 CASE KEYS 7 ALTERNATIVES – need more pros and cons 8 RECOMMENDATIONS 8 ACTION PLAN - TBD 9 CONTINGENCY PLAN -TBD 9 APPENDIX A – Competitor’s strength and weakness 10 APPENDIX B – Segmentation 11 REFERENCES 12 EXECUTIVE SUMMARY Founded 1971, Starbucks started off as a bean roasting company. After a visit to Italy by Howard Schultz, he was determined to open an Italian style espresso bar. For the next 20 years, after the name had been purchased by Howard in 1987, there was a vast growth and expansion. With little competition, Starbucks was able to open a total of 15,011 stores in globally in which two-thirds were in the USA. In 2007, Starbucks was hit with a financial crisis that plunged its shares around $19-$20. With a negative working capital caused by increase financial debt both short and long-term, the sharp expansion due to strategy shift may have caused targets in 2007 not to be met. As shareholders expectations were high, Shultz reclaimed is seat as CEO with intentions to steer the company back to focus on the customers and commitment to its community. During the years of great success for Starbucks, there was little competition globally. Its direct competition in Canada was Second...
Words: 1609 - Pages: 7
...to avoid any further conflict or bloodshed between the colonist and British troops at any cost necessary. The coming forth of many witnesses was quick to accuse Thomas Peterson of initiating his men to fire,though it must be noted whether or not these witnesses were supporters of the Colonist or British. Immediately after the event had taken place Thomas Peterson reprimanded his fellow men for engaging in a unauthorized act. He was aware that his troops were placed in a confusing matter in establishing whether or not or whom said the words leading to the death of colonist. Throughout this evaluation in court,Thomas Peterson remained calm in his demeanor and profoundly took responsibility as a higher authority in command. In his final staements he stuck to his account about what occured that day and steered away from any discrepancies. In conclusion a man with a credible rank of authority,such as Thomas Peterson is outruled to be characterized as decieving. The opportunity of placing all the blame towards his troops was presented and yet Thomas Peterson chose to withold his men from any further scrutiny. As a true leader he accepeted the faults made under his commandment and accepted the outcome of the actions implicated. Unlike many today, Thomas Peterson stayed true to his character with a sense of leadership and honesty. ...
Words: 499 - Pages: 2
...Need Answer Sheet of this Question paper, contact aravind.banakar@gmail.com www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 Cost and Management Accounting 1. X is the manufacture of Mumbai purchased three chemicals A, B and C from U.P.The bill gave the following information: Chemical A: 6000 kgs @ Rs. 4.20 per kg Rs 25,200 Chemical B: 10000 kgs @ Rs. 3.80 per kg 38,000 Chemical C: 4000 kgs @ Rs. 4.75 per kg 19,000 VAT 2,055 Railway Freight 1,000 Total Cost 85,255 A shortage of 100 kgs in chemical A, of 140 Kgs in chemical B and Of 50 kgs in chemical C was noticed due to breakages. At Mumbai, the manufacture paid octroi duty @ 0.20 kg. He also paid hamali, Rs 20 for the chemical a, Rs 58.12 for chemical B and Rs 35.75 for chemical C. Calculate the stock rate that you would suggest for pricing issue of chemicals assuming a provision of 4 % towards further deterioration and also show the quantity (kgs) of chemicals available for issue. 2. ABC Ltd has collected the following data for its two activities. It calculates activity cost rates based on cost driver capacity. Activity Cost driver Capacity Cost Power Kilowatt hours 50000 hrs Kilowatt Rs 200000 Quality Inspection Numbers of inspection 10000 inspection Rs 300000 The Company makes three products, A, B and C.For the year ended March 31, 2004, the following consumption of cost drivers was reported: Product ...
Words: 903 - Pages: 4
...Need Answer Sheet of this Question paper, contact aravind.banakar@gmail.com www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 Cost and Management Accounting 1. X is the manufacture of Mumbai purchased three chemicals A, B and C from U.P.The bill gave the following information: Chemical A: 6000 kgs @ Rs. 4.20 per kg Rs 25,200 Chemical B: 10000 kgs @ Rs. 3.80 per kg 38,000 Chemical C: 4000 kgs @ Rs. 4.75 per kg 19,000 VAT 2,055 Railway Freight 1,000 Total Cost 85,255 A shortage of 100 kgs in chemical A, of 140 Kgs in chemical B and Of 50 kgs in chemical C was noticed due to breakages. At Mumbai, the manufacture paid octroi duty @ 0.20 kg. He also paid hamali, Rs 20 for the chemical a, Rs 58.12 for chemical B and Rs 35.75 for chemical C. Calculate the stock rate that you would suggest for pricing issue of chemicals assuming a provision of 4 % towards further deterioration and also show the quantity (kgs) of chemicals available for issue. 2. ABC Ltd has collected the following data for its two activities. It calculates activity cost rates based on cost driver capacity. Activity Cost driver Capacity Cost Power Kilowatt hours 50000 hrs Kilowatt Rs 200000 Quality Inspection Numbers of inspection 10000 inspection Rs 300000 The Company makes three products, A, B and C.For the year ended March 31, 2004, the following consumption of cost drivers was reported: Product ...
Words: 903 - Pages: 4
...Patrick Killeavy 6/4/2015 ACCT 7116 Lessee Ltd. INTRODUCTION: Lessee Ltd. is a British company that applies IFRS for financial reporting purposes. On January 1, 2013, Lessee Ltd. leased equipment from Lessor Inc. The lease term covers a period of three years and reverts back to the lessor at the end of three years. The lease costs consist of $100,000 annual rental payments as well as $2000 of annual expenses that relate to insurance, maintenance, and taxes. The equipment has a 4 year useful life, $265,000 fair value, $20,000 guaranteed residual value, and $2000 salvage value. According to IFRS IAS 17, a lease can either be classified as a finance lease or as an operating lease. Lessee Ltd. has several concerns about the classification of the lease and whether to use the 10% implicit rate in the lease or the 11% incremental borrowing rate. As a result, both a junior and senior accountant of Lessee Ltd. provided an analysis discussing whether the lease was an operating or capital lease and each prepared the applicable journal entries. Was the junior accountant's analysis correct?: According to the junior accountant, the lease should be classified as an operating lease because the equipment reverts back to the lessor. The accountant believed that the proper annual journal entry consists of debiting legal expense of $100,000, insurance expense of $2000, and crediting cash of $102,000. According to IFRS IAS 17.10 "Whether a lease is a finance lease or...
Words: 1837 - Pages: 8
...HISTORY: JP Morgan Chase & Co is one of the oldest, largest and best known financial institutions in the world. It is a result of a combination of several large US banking companies and over 1200 predecessors. It dates back to 1799. Chase bank is a subsidiary of JpMorgan Chase & Co that specializes in?. The Chase brand is used for credit card services in the United States and Canada, the bank's retail banking activities in the United States, and commercial banking. It is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The history of Chase Bank dates back to September 1st, 1799 when the Manhattan Company was founded by Aaron Burr as a water carrier company. Burr’s goal was to bring clean water to New York City and put a stop to the monopoly that the Bank of New York and the federal bank had on the state. Alexander Hamilton started Bank of New York in 1784. The Mannhattan Company received its charter in an unusual way, through Burrs’ political connections in New York. Being a former congress man and vice president as well as other prominent positions, he sponsored abill through the New York assembly that established the water company which in turn allowed the creation of a bank. A clause in the bill allowed the company to invest surplus capital in any lawful enterprise. The Bank of Mannhattan started paying dividends in June 1800. The water carrier/bank was off and running. In 1804 Burr was...
Words: 1526 - Pages: 7
...FIN 534 Discussion Questions Week 1-11 Solution Follow www.hwmojo.com link below to purchase solution http://www.hwmojo.com/products/fin-534-discussion-questions We have all assignments, homework problems set and exams for FIN 534. Email us support@hwmojo.com FIN 534 Week 1-11 Discussion Questions Solved Week 1 DQ 1 Discussion 1: An Overview of Financial Management. A. In your judgment, what were the principal causes of the recent financial crisis and Great Recession? Would you include Government policies that encouraged housing purchases for those who could not afford them, artificially low interest rates implemented by the Federal Reserve, banks and mortgage brokers who were greedy, the failure of Government regulators to provide proper oversight to the banks and other financial institutions, individuals who borrowed and spent more than they should have, or some other causes? . B. From the e-Activity, examine ethical behavior within firms in relation to financial management. Provide at least two (2) recent (in the last 5 years) examples (other than Enron, WorldCom, and Bernie Madoff) of companies that have been guilty of ethics-based malfeasance related to financial management. What were the specific sanctions that were imposed and explain why the sanctions and penalties were appropriate? . C. From the scenario (Scenario Topic: The primary objective of the corporation is value maximization), what are at least two (2) actions that Trevose Fitness...
Words: 2510 - Pages: 11
...A Report On Audit planning, Strategy and Audit Program Opsonin Pharmaceutical Date of submission 20-02-2014 F-310: Auditing Department of Finance University of Dhaka Submitted To: Md. Salahuddin Chowdhury Assistant Professor Department of Finance University of Dhaka Submitted By: SL No. | Name | ID No. | Remarks | 01. | Md. Shiblur Rahman | 17-025 | | 02. | Md.Saddam Hossen | 17-023 | | 03. | Deloar Hossen | 17-027 | | 04. | Md. Rahatul Islam | 17-109 | | 05. | Subarata Biswas | 17-259 | | Table of contents Sl. No | Topics | Page No. | 1. | Executive summary | | 2. | Letter of transmittal | | 3. | Objectives | | 4. | Limitations of the study | | 5. | Sources and methodology | | 6. | Chapter one:company * Company Description * Mission and Vision * core values * Manufacturing facilities * Product development * Quality assurance\ * International marketing | | 7. | Chapter two: Financial position * Analysis of financial position * Value Added Statement * Total sales growth * Export sales * Profit before tax * Shareholder’s equity | | 8. | Chapter three: audit Task * Our Audit Planning * Sufficient Appropriate Audit Evidence * Financial Statement Assertions * Test of Control * Test of control done by us * Substantive procedures * Independent Auditor’s Report | | Executive summary Auditing is an essential field in the modern business sector...
Words: 3733 - Pages: 15
...Computer Science Chapter 1: Introduction to Computer Hardware Different Categories of Computer and Computing Devices Tablets The lightest and most portable Touch interface, good for “light” work Laptops/Notebooks Larger display area; adds CD or DVD as well as physical keyboard They are portable; price for performance is not as good as desktop, choice of hardware is limited Specialized Variant Laptops Ultrabooks Thinner, and lighter than laptops Cost is higher than laptop (all hardware being equal) Netbooks Cheaper more portable laptop that is smaller and has a lower quality display and overall less powerful hardware Much less common than tablets today Desktop Computers Everything is separate (monitor, computer, keyboard, etc); this allows you to mix and match and customize your desktop computer, at the cost of increased complexity (some compatibility issues may arise – not everything works together) and decreased portability. Larger ‘footprint’ (More space is required, but this allows for increase expandability) ------------------------------------------------- Reduced costs/more options (compared to laptops) ------------------------------------------------- The purpose of an operating system is to run the computer. The operating system determines the interface of a computer, its configurability, and its security. In general, due to popularity and tweak-ability, the MS-WINDOWS (PC) OS has more viruses than the MAC OS. In general, the MAC OS...
Words: 3669 - Pages: 15
...SUMMER INTERNSHIP PROJECT REPORT ON Business development and market research on Kotak life insurance products and services suitable for different market segmentation. Submitted to: Department of management in the partial fulfillment for the MBA SUBMITTED BY: VICTOR MONDAL REG NO: 1420233 Under the guidance of Dr. Kamal Kishore Assistant Professor Institute of Management Christ University, Bangalore MBA 2014-2016 CERTIFICATE This is to certify that the Summer Internship Project submitted by Mr. Victor Mondal on the title Business development and market research on Kotak life insurance products and services suitable for different market segmentation, Kolkata is a record of project work done by him during the academic year 2015–16 under my guidance and supervision in partial fulfillment of Master of Business Administration. This Summer Internship Project has not been submitted for the award of any degree, diploma, associate ship or fellowship or any other title in this University or any other University. Place: Bangalore (Name & Signature of the Guide) Date: Dr. Kamal Kishore ...
Words: 9430 - Pages: 38
...MARKING GUIDE TOPIC: NURS 3005/NURS3005A Child and Family Health Stream ASSESSMENT 2: Essay – Exploring a Child and Family health Issue: Topic 1 2 3 Performance standard Assessment criteria Good Satisfactory Evidence of core work, at a high level through: Evidence of core work of the assignment through: - current literature and/or policy documents related to the topic & statement - current literature and/or policy documents related to the topic & statement - current literature and/or policy documents related to the topic & statement - the significance of lifespan development.. - the significance of lifespan development. - the significance of lifespan development. - current literature and/or policy documents related to the topic & statement Limited rationale -incorporating the elements/principles of family-centred care. -incorporating the elements/principles of family-centred care. -addressing support services or health promotion information. 65% Excellent Evidence of core work, at an advanced level through: Written content Weighting -addressing support services or health promotion information. -incorporating the elements/principles of family-centred care. - the significance of lifespan development. Not addressed -addressing support services or health promotion information. -incorporating the elements/principles of family-centred care. Not addressed ...
Words: 3970 - Pages: 16
...Submitted by Supervisor Registrar Hooria Ijaz Butt Roll No :1818 IN THE NAME OF ALLAH, THE MOST MERCIFUL, THE MOST BENIFICIENT DECLARATION Internship report submitted to the Department of Management Sciences, Lahore College for Women University, Lahore in partial fulfillment of the requirement for the degree of B.com DEDICATION I dedicate this internship report to my parents and teachers without their help and guidance I would not have been possible to complete this report. ACKNOWLEDGEMENT This report could not have been complete without the passion I had given by Allah and does not require any thanks on paper, as He knows all I have to say……….. “Praise to Allah, lord of the world, most beneficent, lord of the Day of judgment, we only we worship, and the only we asked for help, show us the straight path, the path of those whom thou hast favored. Not the path of those who earn thin wrath nor of those who go astray” Table of Content Content Page No Chapter 1 Executive Summary Historical Background Economic Landscape Vision Statement Mission Statement Vales Culture Goals Objectives Future Outlooks Chapter...
Words: 14182 - Pages: 57
...Sara Lee Equity Analysis and Valuation Valued at 1 April 1, 2007 Analysts: Todd L. Ehlers: todd.ehlers@ttu.edu Michael D. Estes: mikestes@sbcglobal.net Daniel W. Taylor: dtaylor1184@yahoo.com Joseph R. Torres: rhyno1112@sbcglobal.net Table of Contents Page Number Executive Summary……………………………………………………………………………………………… 2 Analysis Snapshot............................................................................................ 2 Company and Industry Overview…………………………………………………………………… 3 Accounting Analysis………………………………………………………………………………………. 3 Financial Ratio Analysis…………………………………………………………………………………. 4 Analysts Evaluations……………………………………………………………………………………… 4 Overview of Firm and Industry............................................................................... 5 Industry Overview and Analysis………………………………………………………………………….. 8 Rivalry Among Existing Firms………………………………………………………………………….8 Threat of New Entrants…………………………………………………………………………………. 15 Threat of Substitute Products………………………………………………………………………… 17 Bargaining Power of Buyers…………………………………………………………………………… 18 Bargaining Power of Suppliers……………………………………………………………………….. 20 Characterization of Industry……………………………………………………………………………20 Value Chain Analysis: Key Success Factors…………………………………………………………. 21 Competitive Advantage Analysis…………………………………………………………………………. 23 Cost Leadership……………………………………………………………………………………………. 24 Differentiation……………………………………………………………………………………………….27 Accounting Analysis………………………………………………………………………………………………...
Words: 34911 - Pages: 140
