Chapter First, 15 questions 1. Sole, Partnership and Corporation 2. Advantages of corp: The liabilities of the owners are limited to their investment to the company. It can also raise money easily through stock market. Disadvantages of corp: the establishment of a corp is complicate. There are usually a large amount of shareholders in a corp, and the management may act out of his or her interest instead of everyone’s interests. 3. Advantages of partnership or sole: It is much more simply
Words: 436 - Pages: 2
is doing financially either for the good or the bad or indifferent. I we will use three common ratios to determine how financially stable from how Shimizu International and Lexmark US based company balance sheets with their business information is doing these last three years. Balance sheets from Shimizu International and Lexmark, companies no matter the industry no company wants a current ratio less than one because this suggests that the company has more liabilities than assets meaning that
Words: 851 - Pages: 4
3 Horizontal Analysis There are several methods used by companies and investors to assess a business’s overall financial health. One such method is horizontal analysis, which compares the financials of a company’s balance sheet and their income statements over two or more accounting periods. Comparing these numbers over a defined period of time enables the management and potential investors to see if the financial situation of the company is improving or time or not and
Words: 1080 - Pages: 5
Employees: Employees are generally interested in future salary negotiations and job security – they want to know how much of a pay rise they can expect and is their job secured. They would use the Profit and loss account – profit figures; Balance sheet – net current assets; Cash flow statement – major inflows/outflows; directors report for future plans. Present shareholders: Present shareholders are primary interested in the value of their shares and the return of their investment. They would
Words: 1153 - Pages: 5
FINAL ACCOUNTS FOR COMPANIES 4.1 IAS 1 Presentation of financial statements IAS 1 identifies three fundamental assumptions that must be taken into account when preparing accounts: Going concern Accruals Consistency 'IAS 1 Presentation of financial statements was published in 1997 and revised in 2004. IAS 1 gives details about the general requirements and what it says about accounting policies and fundamental assumptions and on the format and content of financial statements
Words: 2842 - Pages: 12
GAMESTOP CORP. ACCT 280 FINANCIAL PROJECT WORD BOOK Assignment1: Ethical Dilemma (10 points)[1] Before reading this assignment, review pages 8-9 in your text about evaluating ethical dilemmas (or search for ethical dilemmas in the online text). Remember that an ethical dilemma, by its nature, has at least two alternatives – maybe more. GAMESTOP’S Chief Accounting Officer is Robert Lloyd. He is responsible for overseeing the books and records of the company and preparing the company’s
Words: 3050 - Pages: 13
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
Words: 8440 - Pages: 34
Financial Summary Report Kenyatta Maggitt Dr. Lee Meadows BUS 599 March 26, 2012 An income statement is a summary of the income coming and going out in a business over a certain period time. The income statement covers fees earned, revenue, expenses and net income. At Magic Lemonade Stand, the earned income for the first season was $206.75. The operating expenses for inventories $4.77 and equipment $11.50 for a total operating expenses of $79.58. The Net income was $127.17. The statement
Words: 595 - Pages: 3
pro-forma Income Statement and Balance Sheet for the same period. Information: a. Sales are 30% for cash, 70% on open account b. Of the credit Sales, 60% are collected with a one month lag and 40% are collected with a two month lag. c. Gross profit margin on sales averages 25%. Cost of goods sold is strictly materials. d. All inventory purchases are paid one month after they are purchased. e. The store follows the policy of purchasing enough inventory each month to cover the following month’s sales at cost
Words: 322 - Pages: 2
the financial statements, trends, and insights into the business financial decisions and ensures this information is correct. The four financial statements are income statements, retained earnings statement, statement of cash flow, and the balance sheet. The income statement provides information on profit and losses, which gives a summary of the company financial performance, usually for a specific period, a month, quarter, or one year. The summary outlines the company operation and “non” operation
Words: 988 - Pages: 4
