can pursue are a financial analyst and an auditor. A financial analyst should have a bachelor’s degree and is responsible in assisting businesses and individuals to make sound investment decisions. They would provide several different types of services such as recommend individual investments and collections of investments, study economic and business trends, study a company’s financial statements to determine its value and meet with investors to explain recommendations. (Financial Analysts, 2014)
Words: 614 - Pages: 3
of History The International Accounting Standard number 7 – Statement of Cash Flows (IAS7 or the standard) is the current authority issued by the International Accounting Standards Board (IASB) requiring the preparation and presentation of a Statement of Cash Flows, providing through it the historical changes in cash and cash equivalents of an entity. The standard was first issued in 1977 as IAS 7 – Statement of Changes in Financial Position by the International Accounting Standards Committee
Words: 1819 - Pages: 8
Annual reports are intended to give shareholders and other interested people information about the company's activities and financial performance. The annual report is a report issued to a company's shareholders, creditors, and regulatory organizations following the end of its fiscal year. The report typically contains at least an income statement, balance sheet, statement of cash flows, and accompanying footnotes. It may also contain management comments, an audit report, and various supporting schedules
Words: 376 - Pages: 2
You have been named the Chief Financial Officer (CFO) of a two year old company, CUNY Analytics. Financials have been prepared by a bookkeeper. As CFO, you responsible for the preparation of accurate financials, analysis and review of the financials before they are released and communication of the results of your company to banks, investors, creditors and the government, as necessary. Please complete the following: a. What are the four major financial statements and, in depth, discuss their
Words: 2655 - Pages: 11
TRUE-FALSE STATEMENTS 1. Analysts are interested in sustainable income, which is equal to the past year’s net income. Ans: F, SO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Performance Measurement 2. One objective of the income statement is to separate the results of continuing operations from those of discontinued operations. Ans: T, SO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA
Words: 1028 - Pages: 5
5/8/2013 | Minti Spock, Galactic Marketing Agency | Executive summary This report provides the analysis and evaluation of the financial performance of Galactic Marketing Agency for October 2013. The information provided in this report will be based on the data presented in the two primary financial statements: * balance sheet * income statement The results of data presented show that Galactic Marketing Agency is operating at a satisfactory level. In particular, the profit generated
Words: 680 - Pages: 3
materials which will be consumed in the production process or in giving out of services. This standard does not apply to financial instruments and it gives out a guideline on how to measure an asset which is categorized as an inventory, which concept constitute of the cost and at what time an expense occurs and the information that should be disclosed while preparing the financial statements (International Accounting Standards Board, 2008, p.977). History In the year 1974 during the draft of standard,
Words: 1010 - Pages: 5
0056472420730 Dr. Kathleen Dunne March 1, 2015 Since 1998, Statement of Financial Accounting Standards (SFAS) 130 established that companies have to report comprehensive income in a financial statement. SFAS 130 provides two methods of how to report comprehensive income: by a continuous statement format where it starts with income statement and then continues with OCI entries or by presenting OCI as an independent statement, starting with net income. However, in 2011 FASB issued Accounting
Words: 525 - Pages: 3
Principles of Accounting 1 Topic Learning Outcomes 2.1 2.2 2.3 2.4 2.5 Discuss the nature and purpose of accounting. Explain the five basic financial elements of a business. Explain the underlying concepts of recognising and measuring the financial elements. List the four basic financial statements used in business decision making. List the basic tools for analysing financial statements. BUS5AFS: Topic 2 – Principles of Accounting 2 La Trobe Business School Prescribed reading Hill, G. and Martin, T.
Words: 1247 - Pages: 5
its obligations? Creditors 7. Which of the following financial statements is divided into major categories of operating, investing, and financing activities? The Statement of cash flows 8. Ending retained earnings for a period is equal to: Beginning retained earnings + Net income – Dividends 9. The financial statement that summarizes the changes in retained earnings for a specific period of time is the retained earnings statement. 10. To show how successfully your business performed
Words: 595 - Pages: 3
