cialTrading Business A trading business is an entity that purchases products called goods and resale it to customers with the intention of earning a profit. -Retailers (grocery stores, book shops, restaurants) -Wholesalers (beverage distributors, electrical suppliers, petrol importers) Financial Statements The Profit & Loss Account Revenues – total goods sold Expenses – operating expenses, cost of purchasing, advertisement, tax….. Trading Business – Key Features Primary functions –
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1611—PERFORM PRELIMINARY ANALYTICAL PROCEDURES PROFIT AND LOSS ACCOUNT | | | | | | | | Objective: To perform a high level analytical review of the P&L numbers to identify risk and highlight areas of audit focus. The figures have been taken from the TB Module. | | | | | | | | | | Conclusion: O/S. | | | | | | | | | | PROFIT AND LOSS ACCOUNT | Current Year | Prior Year | Difference | Difference | | | | 200X | 200Y | % | £ | |
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Phase 1 Individual Project Coca Cola Company Annual Report Introduction In this assignment, I was to choose a company and analyze their annual report to calculate the following: * Return on assets * Return on equity * Gross profit Margin * Debt to equity ratio * Debt ratio * Current ratio * Quick ratio * Inventory turnover * Total asset turnover * Price earnings ratio I have chosen to analyze the Coca Cola Company. I will analyze their financial performance
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Chapter 1: Analytical Problem Step 1: * Industry: Apparel Stores * 1. Buckle (BKE) * 2. Express (EXPR) * 3. American Eagle Outfitters (AEO) Step 2: * Buckle (BKE) * Employees: 8,600 * Income per employee: $19,075.35 * Revenue per employee: $131,390.35 * Receivable turnover: 278.01 * Inventory turnover: 6.19 * Asset Turnover: 2.18 * Express (EXPR) * Employees: 17,000 * Income per employee: $7,625.35 * Revenue per
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Comprehensive Annual Financial Report Briefing: Each year the Los Angeles County Office of Education issues a Comprehensive Annual Financial Report (CAFR). The most recent report as the 2012 that was created by Alexander Cherniss, Ed.D., Chief Business Officer, fiscal year ending June 30, 2012. Presently no boundary changes during the fiscal year. The purpose of this paper is to provide an overview of government accounting and reporting. Governmental Accounting and Reporting Budgeting and
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Name: _______________________________________________ Score: ____________________ Course: _______________________________________________ Date: ____________________ Accounting Quiz Test 1 Direction: The Accounting Equation is Assets = Liabilities + Capital. The equation remains equal after every transaction. Having this in mind, fill up the following blanks. The first number is answered as an example. 1. If assets increase by P 1, 000 and liabilities remain unchanged, then capital increases
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| | | | | | | | | | | FINANCIAL STATEMENT ANALYSIS FOR HINOPAK MOTORS (2010) | | | | | | | | | | Financial statement analysis (or financial analysis) the process of understanding the risk and profitability of a firm (business, sub-business or project) through analysis of reported financial information, particularly annual and quarterly reports. Financial statement ratio analysis focuses on three key aspects of a business: liquidity, profitability, and solvency. | |
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CONSERVATIVE RECOGNITION OR COOKIE JAR RESERVES Robin Turner Summary Two months after graduating from college Nick O'Brien started to work in the accounting department at his aunt's software company. While going over some financial statements Nick notices what he believes are revenue recognition issues. Since Nick believes that Lee Marchetti the Chief Financial Officer (CFO) of O'Brien Software is an honest man, he decides to have a discussion with him about what he believes are revenue
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Conservative Recognition or Cookie Jar Reserves? A Case Study Analysis July 5, 2013 Case Summary: Nick O’Brian has just finished his college degree and has started working for his aunt’s software company, O’Brian Software. Nick was hired as a junior auditor and has only been on the job for a couple of months. His aunt Amelia started the company as a small firm many years ago and finally went public after the company had grown tremendously. She holds the CEO position and runs the bulk of
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subsidiaries. into US GAAP over an extended US companies are also becoming period of time (the “endorsement” increasingly aware of IFRS, as key method). Under this method, the aspects of US generally accepted FASB would remain the US stanaccounting principles (US GAAP) dard setter and potentially endorse and IFRS continue to be the focus of new IFRS into the US financial ongoing joint projects. reporting system. Additionally, the FASB would also consider existing IFRS has also been a subject of focus
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