CHAPTER 1 THE PROBLEM AND ITS SETTING I. Introduction As professionals, CPAs perform an essential role in society. They are responsible to all those who use their professional services. They also have a continuing responsibility to improve the art of accounting, maintain the public’s confidence, and carry out the profession’s special responsibilities for self-governance. However, the role of a CPA in helping businesses come up with a good and effective decision-making is said to be one
Words: 8424 - Pages: 34
Name____Morenike Onibon___________________________ Individual Learning 55 Question Form General Information ORACLE CORPORATION’S 2014 FINANCIAL STATEMENT WAS UNAVAILABLE AT THE TIME I WORKED ON THIS PROJECT: I THUS USED THE 2013-2012 FINANCIAL STATEMENT. 1. What is the name of your corporation? The name of my corporation is Oracle Corporation. 2. Where are the corporate headquarters? The headquarters of Oracle is in Redwood City California. 3. What is the corporation’s fiscal
Words: 2308 - Pages: 10
1-3 1. Revenue Recognition: General: 25-1 The recognition of revenue and gains of an entity during a period involves consideration of the following two factors, with sometimes one and sometimes the other being the more important consideration: ← a. Being realized or realizable. Revenue and gains generally are not recognized until realized or realizable. Paragraph 83(a) of FASB Concepts Statement No. 5, Recognition and Measurement in Financial Statements of Business Enterprises , states
Words: 1877 - Pages: 8
|[pic] |Syllabus | | |School of Business | | |ACC/290 Version 3 | |
Words: 2436 - Pages: 10
and Loss Account, Statement of Changes in Equity and Statement of Cash Flows for the year then ended. These financial statements are the responsibility of the company’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing (ISA). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material
Words: 9497 - Pages: 38
Financial Ratio Quarterly Trend Analysis of AMAZON, Inc. Stock symbol: AMZN Listed on the New York Stock Exchange 1.0 Introduction 2.0 Financial Ratio Calculation and Analysis 2.1 Methodology Our team obtained income statements, balance sheets, cash flow statements and trading information for AMZN for the four most recent quarters (XXX>>>>>) 2.2 Ratio Computations The following table summarizes the results of the ratio computations for AMZ: KEY FINANCIAL RATIOS Amazon
Words: 2547 - Pages: 11
company issues securities to the general public, it usually uses the services of an investment banker who underwrites (purchases at a fixed price on a fixed date) new securities for resale. For this service, investment bankers receive the difference, or underwriting spread, between the price they pay for the security and the price at which the security is resold to the public. There are three primary means by which companies offer securities to the general public: 1) Traditional (or firm
Words: 7600 - Pages: 31
--Bonds: Dr. Cash, Cr. Discount, Cr. Bonds Payable (par value) First entry for first payment of interest: Dr. Interest Expense, Cr. Cash, Cr. Discount on bonds payable --Cash: coin, currency, available funds on deposit at bank, money order, certified checks, cashier’s checks, personal checks, bank drafts, and saving accounts. Inclunding Cash equivalents: T-bill, commercial paper, money mkt funds. Restricted: plant expansion, retirement of long term debt, compensating balances. Cash equivalents are
Words: 2179 - Pages: 9
Business Math September 3, 2015 Abstract This paper is an analysis of the financial statement of Phillips 66. The researcher will present horizontal and vertical analysis of the income statement and balance sheet among other things. Introduction This paper presents an analysis of Phillips 66 financial statement. Specifically discussed in this document will be the following: Preparation of Financial Statement, Business Problem Solving, Recovery Methods, Indebtedness, Horizontal Analysis, Vertical
Words: 1188 - Pages: 5
Chapter 12 Cash debt coverage ratio A cash-basis ratio used to evaluate solvency, calculated as cash provided by operating activities divided by average total liabilities. (p. 000) Current cash debt coverage ratio A cash-basis ratio used to evaluate liquidity, calculated as cash provided by operations divided by average current liabilities. (p. 000) Direct method A method of determining net cash provided by operating activities by adjusting each item in the income statement from the accrual basis
Words: 6223 - Pages: 25
