Please describe the purpose the Balance Sheet and the interrelationship between the balance sheet and the other major financial statements. The balance sheet provides information on what the company has in assets, what liabilities they have and the value of the business to its stockholders (the shareholders' equity) as of a specific date. The reason it's called a balance sheet is because the two sides balance out. A company has to pay for all the things it has (assets) by either borrowing money
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Accounting FOR DUMmIES 4TH ‰ EDITION By John A. Tracy, CPA Accounting For Dummies®, 4th Edition Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2008 by Wiley Publishing, Inc., Indianapolis, Indiana Published by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical
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Financial Statement Differentiation ACC/561 Financial Statement Differentiation There are basically four different types of financial statements. They consist of balance sheets, income statements, statements of cash flows, and statements of stockholders’ equity. Different aspects of a company’s accounting information are presented in each of these statements for use by investors, managers, creditors, etc. Assets, liabilities, revenues, and expenses are all represented on one or more of
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Cash Flows Bobbi Talbert XACC/291 October 25, 2014 Vaunda Davis Cash Flows The statement of cash flows gives investors and creditors more information than the other statements do. The cash flows will show you the cash receipts, cash payments, and net change in cash resulting from operating, investing, and financing activities during a specific time frame. Investors and creditors will want to see if the company has enough money to pay their debits and also have money set aside to help with
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of financial statements for an entity at a point in time and/or its results cash flows for a period of time. 2. What are the three major divisions in the accounting field? Internal Auditing: the practice of examination in the financial statements within a company by a third party with the objective of expressing an opinion about the fairness of the company’s financial position Governmental and Non-profit auditing: the practice of examination in the financial statements of a state or
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TOPIC 11 – STATEMENT OF CASH FLOWS HOMEWORK SOLUTIONS Discussion questions 1. What is the purpose of a statement of cash flows? Refer to section 19.3. The purpose of a statement of cash flows is to present information about changes in the cash and cash equivalents of an entity during the period classified by operating, investing and financing activities. 2. How might a statement of cash flows be used? Refer to section 19.3. A statement of cash flows may be used by investors, creditors
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FINANCIAL STATEMENT ANALYSIS OF APPLE INC. INTERMAITE ACCOUNTING 312 PROFESSOR BRODERICK MARTINEZ BY: MURTAZA MOIZ TABLE OF CONTENT Cover Page Pg. 1 Table of Contents Pg. 2 Introduction Pg. 3 History
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Financial Statements Paper Atiya Paige ACC/290 June 27, 2013 Kofi Amoateng A financial Statement means an authorized documentation of the financial actions of an individual. These are reports that have been written that measure the financial depth, routine and cash flow of a business. Financial Statements reveal the financial results of business connections and procedures on the individual businesses. There are four types of financial statements that business
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Financial Statement Analysis Introduction The authors of Learning Team B choose two health organizations to compute the quick and current liquidity ratios, the DuPont ratio, profit margin, asset utilization, and financial leverage. The health organizations chosen are Happy Hospital and Health Management Associates. Within these two organizations the learning team will be discussing how differences in the industries and different measurements conventions affect presentations, and if one of the
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Income Statement for Year Ended December 31, 2011 (Prepared by PMI) Sunset Medical P.C. Income Statement For Year Ended December 31,2011 Revenue | | | Medical Revenue | | $ 1,601,050.52 | | | | Expenses | | | Direct Expenses | $ 719,880.70 | | General Expenses | $ 567,372.88 | | Interest Expenses | $ 16,690.68 | | Depreciation Expenses | $ 34,147.56 | | Total Expenses | | $ 1,338,091.82 | Net Operating Income |
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