Review of Financial Statements University of Phoenix FIN324 Financial Analysis for Managers Joseph Brennan Introduction It is said that companies will come and go, and those that survive and left standing will teach other companies, how their survived. We will take two companies; UPS and Ebay, Inc break them down and show you how they got their start. In our paper, it will also be discussed and show a review of their financial statements from each one. The point is to get a better picture
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Financial Statements Paper Angela Carson Acc/280 Principles of Accounting Stephen Willden October 4, 2010 The purpose of accounting is to help users of financial information to understand how a company or individual is functioning in the economy. Accounting takes the financial information of an organization and it identifies records and communicates its economics to the interested parties. There are four basic financial statements. The income statement shows the revenues, expenses and income
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Reporting and Analysis REVIEW Financial statements are the most visible products of a company’s financial reporting process. The financial reporting process is governed by accounting rules and standards, managerial incentives, and enforcement and monitoring mechanisms. It is important for a user of financial information to understand the financial reporting environment along with the accounting information presented in financial statements. In this chapter, the concepts underlying financial
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term loans or income tax owed to the government within a year. * d.What is the difference between long-term debt and notes payable? The main difference between long term debt and notes payable is the amount of time available for repayment. 4.9’ * a.What is the statement of cash flows, and how does it differ from the income statement? The cash flow reflects more of an at-a-glance income statement that shows a snapshot of money spent and received. The income statement on the other hand
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Review Of Financial Statements Category: Miscellaneous Autor: anton 26 June 2011 Words: 1546 | Pages: 7 Introduction It is said that companies will come and go, and those that survive and left standing will teach other companies, how their survived. We will take two companies; UPS and Ebay, Inc break them down and show you how they got their start. In our paper, it will also be discussed and show a review of their financial statements from each one. The point is to get a better picture of where
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is helpful to further secure business decisions. Careful consideration must be taken, and a closer review of historical financial statements is suggested to determine the company’s financial health. One way to determine a company’s health is by reviewing a company’s business environment, analyzing a company’s income statement, balance sheet, and statement of cash flows. Chevron is known to be one of the top profitable Fortune 500 Company. A recent SWOT analysis was completed determining Chevron as
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collected in cash and costs other than depreciation must be paid for during the year. Berndt’s federal-plus-state tax rate is 40%. Berndt has no debt. a. Construct an income statement. What is Berndts expected net cash flow? Solution: computation of the following The income statement is expected net cash flow Sales 12,000,000 Costs other then depreciation 9,000,000 75% of sales Depreciation 1,500,000 Income before tax 1,500,000 Tax (40%) 600,000 Net Income 900
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Accounting standards are the product of modernization which initially becomes the rules and regulations to govern the way in preparing financial statements. In these days, International Financial Reporting Standards (IFRS) are widely implemented, yet the underlying accounting practices are still unstandardized due to various factors of economic and cultural differences, just to name a few. In 2010, proposals were issued in Australia and New Zealand which aim to harmonize the standards as adopted
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Financial Statements Author Axia College of University of Phoenix Financial Statements Through the use of financial statements businesses can efficiently provide internal and external users with information regarding the business assets, liabilities, expenses, and revenue. The financial statements include four important reports: the balance sheet, the income statement, the retained earnings statement, and the statement of cash flow (Kieso, Kimmel, & Weygandt, 2003). The
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tax rate is 35 percent, what is the operating cash flow, or OCF? a. Operating cash flow $ 17283 Sales - Cost - Dep = EBIT 34630 - 10340 - 2520 = 21770 EBIT - Interest = Taxable Income 21770 - 1750 = 20020 Taxes (35%) = 20020 x .35 = 7007 Net income: 20020 - 7007 = 13013 EBIT + dep - less taxes = OCF 21770 + 2520 - 7007 = 17283 2. Calculating Cash Flows. Weiland Co. shows the following information on its 2014 income statement: sales = $167,000; costs = $88,600; other expenses
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