Company Performance(SB, p. 96–103) Vocabulary Notes Management accounts – отчеты руководства (о работе компании); To provide data – предоставлять данные/информацию; Operational efficiency – производственная эффективность; Financial accounts – финансовая отчетность; Financial performance – финансовые показатели; результаты финансовой деятельности; Revenue, n. – доходы; годовой доход; Cost, n. – издержки; затраты; To make profits – получать прибыль; Losses, pl. – убытки; To suffer losses
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*Accounting records—The records of initial accounting entries and supporting records, such as checks and records of electronic fund transfers; invoices; contracts; the general and subsidiary ledgers, journal entries and other adjustments to the financial statements that are not reflected in formal journal entries; and records such as work sheets and spreadsheets supporting cost allocations, computations, reconciliations and disclosures. Agreed-upon procedures engagement—An engagement in which an auditor
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ordinary audit of financial statements is the expression of an opinion on: | | | Student Answer: | | the fairness of the financial statements | | | | the accuracy of the financial statements | | | | the accuracy of the annual report | | | | the balance sheet and income statement | | Instructor Explanation: | Chapter 6, p. 134. | | | | Points Received: | 5 of 5 | | Comments: | | | | 2. | Question : | (TCO F) If the auditor believes that the financial statements are not fairly
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Financial Statements Paper Phillip Carter ACC/290 November 19, 2012 Michael Olsen Financial Statements Paper There are four basic financial statements involved in the basic accounting process. These reports summaries the financial activity of a company over a specific time period. The first of fore is the balance sheet. The balance sheet reports assets and claims to assets at a particular point in time. Claims to assets are divided into two categories; claims of creditors and of owners. This
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Table of Content Mission Statement of Virginia Winery Ltd……………………………………………………………3 Financial plan ………………………………………………………………………………………….3 Task 1 - Develop financial strategies. 1.1-a Assumptions on which the financial plan has been developed……………………………….5 1.1-b Financial objectives in terms of finance requirements………………………………………..5 1.1-c Funding arrangements………………………………………………………………………...6 1.1-d Financial information requirements…………………………………………………………..9 1.1-e Financial performance targets and
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Situation analysis Important internal controls that were ignored? The auditors of Enron did fail in their task of providing a duty of care to all of the parties. The main reason for this is that they failed to correctly audit the assets and financial position of Enron resulting in all stakeholders having no clue about the forthcoming collapse of Enron. This resulted in the stakeholders facing a very critical condition or a phase where in they were not sure if they would be able to recover their
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UNIVERSITY OF SUNDERLAND SUNDERLAND BUSINESS SCHOOL APC311 INTERNATIONAL FINANCIAL REPORTING Hand in date: - 7th April 2014 Aims: 1. To allow students to explore in greater detail the major learning outcomes of the module and to demonstrate a detailed knowledge and understanding thereof. To assess students’ ability to (i) (ii) (iii) (iv) 3. appropriately summarise and structure information identify relevant information from a given set of literature understand and argue the chosen relevant information
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THE LONDON COLLEGE UCK HND IN BUSINESS HNBS 102 MANAGING FINANCIAL RESOURCES AND DECISION TASK 1) General information about the company: - the full name of the company: the restaurant "Millennium"; - the legal form of the company: general partnership;( being in a partnership the company has more chance to be successful not only cause more capital is injecting to the business but also expertise or specialised skills and knowledge can be
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times, assess whether or not you believe that the current business and regulatory environment is more conducive to ethical behavior. The ethical breaches in recent times, Weygandt, Kimel, Kieso( 2012) researched that “financial press open full articles and documents facts about financial scandals at Enron, WorldCom, HealthSouth, AIG, Adelphia Communication and Cable and more. As the scandal came to light people did not play the stock market if they believe that the stock prices were rigged.” Weygandt
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Kapitel 1 Normative (prescriptive) accounting theory Inte baserad på empiriska tester (som positive teorier är) utan de är baserade på vad researcher tror ska eller borde inträffa vid särskilda omständigheter. Teorier som föreskriver (prescribe) istället för förklarar (describe) särskilda handlingar kallas för normativa teorier eftersom att dom baseras på normer som researchern som lägger fram teorierna har. T.ex. säger hur vi ska ta till oss och använda redovisningsmetoder. Kapitel 2
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