Financial Statements Paper The 4 fundamental monetary reports are the balance sheet, income Statement, retained earnings statement, as well as statement of cash flow (Kimmel, Weygandt, Kieso, 2011). The balance sheet is used to show an idea of what a business has (Kimmel, Weygandt, Kieso, 2011). The balance sheet reports the quantity of assets and claims to assets for a time period (Kimmel, Weygandt, Kieso, 2011). Assets are products the business has that might be used if required to get money
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Financial Statements Acc 561 David Kochevar October 27, 2012 Knowing a business and what they go through to keep it up and running is a lot of work to do and a lot to deal with. I was always told that being a consumer is the easiest part
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The purpose of this paper is to discuss the four types of financial statements and show their importance to investors, creditors and management of the company. I will be using the example of Amazon’s annual report for the year 2010 to demonstrate the financial data for this assignment. Below is the link to the report: http://phx.corporateir.net/External.File?item=UGFyZW50SUQ9OTA4OTN8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1 When analyzing the company’s financial information of an organization, investors
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The Five potential users 5 4.0 How useful are companies’ annual reports in addressing the needs of users of accounts? 6 5.0 Company’s Corporate Social Responsibility (CSR) 8 6.0 To what extent does the regulatory framework govern the preparation of an Annual Report? 9 7.0 To what extent reported profit figures can mislead users of accounts? 10 8.0 Cash flow statements 11 9.0 Accounting Ratios and Cash Flow Statement Analysis 11 10. Cash Flow Statement Analysis 14 11. Criticism of traditional
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accounting information should be useful to the users of financial Statements. (a) Explain who the users of financial statements are, and explain whether you believe that different user groups have different information needs. Accounting is the process of recording, classifying, summarizing, reporting business transactions and interpreting their effects on the affairs of a company. It serves as the language of the business, to communicate the affairs with the users. Doing proper accounts
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Analyzing the Four Financial Statements N'Gia K. Conyers ACC 561 October 8th, 2012 Charles Royes Jr. Analyzing the Four Financial Statements In the study of accounting there are four different types of financial statements. These financial statements have an important role in the daily functions of many businesses and corporations. Accounting is defined as “the information system that identifies, records, and communicates the economic events of an organization to interested users” (John
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Financial Statements Your name here ACC/220 Date Instructor Information about a company is reported on financial statements that show the company’s financial state of being. Reports made on a balance sheet, an income statement, a retained earnings statement, and a statement of cash flows show different aspects of a company’s financial situation. Lenders, creditors, and investors use these documents for determining the future prospects of the company. Managers within the company also use these
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Activities of a firm which require the spending of cash Q 2 : The sources and uses of cash over a stated period of time are reflected on the 3: Common-size income statement is an accounting statement that expresses all of a firm's expenses as a percentage of 4: Standardizes items on the income statement and balance sheet relative to their values as of a common point in time 5: Relationships determined from a firm's financial information and used for comparison purposes 6: Formula which
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Answer the following questions based on the report of LTT Aquaculture SdnBhd.. 1. Describe the nature of the business of LTT Aquaculture SdnBhd.. Answer: The nature of business for LTT Aquaculture SdnBhd is rearing fresh water fish. 2. Identify 6 resources of the business considered as assets from an accounting point of view. Explain why these resources are considered as assets of the business. Answer: a) Empurau fish (1.5kg and above) - This is considered as current asset as they are selling this
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Business Analysis II MGT 521 October 10, 2011 Hoda Bagdady-Asal PhD Abstract The following is a business analysis of the Apple Company. This analysis has been used to determine the financial health of the Apple Company through review of its financial statements. Also, I have included a summary of Apple’s technological advantages over other companies in the same industry, as well as, a benchmarking analysis also comparing Apple to other companies
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