Name: Dinh Thi Quyen Class: A4 – LT6B Number: 24 Essay: Importance of financial statements to managers‚ investors and creditors Financial statements are important reports. They show how a business is doing and are very useful internally for a company’s stockholders and to its board of directors‚ its managers and some employees‚ including labor unions. Externally‚ they are important to prospective investors‚ to government agencies responsible for taxing and regulating‚ to lenders such as
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study General Mills Inc. - Understanding Financial Statements focuses on the most basic idea of finance analysis. This case is a brief look into the language that is used in the finance world and a start to interaction with auditors. In this case‚ KPMG LLP‚ the public accounting firm that was auditing their statements‚ had sent two opinion letters. The first letter was ensuring that both parties were aware that General Mills had internal control over financial reporting. The second opinion letter stated
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the users and suppliers of financial statement information. 1-2 - 1 1-2 LO2 Identify and explain the four financial statements‚ and define the accounting equation. 3-19 1-8 2-5 3 LO3 Explain and apply the basics of profitability analysis. 20-25 9-10 6-7 4 LO4 Describe business analysis within the context of a competitive environment. 26-27 - 8 - LO5 Describe the accounting principles and regulations that frame financial statements. 28-30 - 9-10 5
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CASE #6-20 DECIPHERING FINANCIAL STATEMENTS (THE WALT DISNEY COMPANY) In this case they show you that it is important to disclose information in a company’s financial statments that assist in the explanation of specific changes in accounting methods‚ stock prices‚ etc. The financial statements are one of a large number of vehicles used by the managers of a company to communicate information about the company to the public. Financial reporting is a key part of a company’s general public relations
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49. | 74. | 99. | 25. | 50. | 75. | 100. | THEORIES (50 items) 1. The objectives of financial reporting for business enterprises are based on a. reporting on management’s stewardship b. Generally accepted accounting principles c. the needs of the users of the information d. Accountancy Law 2. Which of the following basic elements are directly related to the measurement of financial position? a. Assets‚ liabilities‚ income b. Revenues and expenses c. Assets‚ liabilities
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“Performance Evaluation of Financial Statements by the Use of Ratio” ACC-1221/09 In partial fulfillment of the requirements for the award of BBA (ACCOUNTING) During the period 2008-2011 Chapter one Introduction 1. Background Financial statements are formal records of the financial activities of a business‚ person and other entities .Financial statements are all relevant financial information that are presented in a structured manner and in a form easy to understand to be used by parties
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Process and Financial Statements Abstract This paper explains different types of accounting phrases and how they directly affect the accounting field. Phrases which are included and defined in the paper are Generally Accepted Accounting Principles‚ Contra-Asset Accounts‚ Historical Cost‚ Accrual Basis vs. Cash Basis Accounting‚ and Accounting Standards Codification. Definitions and examples of these terms are included as well as explanations of how they are important to financial statements. The financial
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15: Net assets value per share 25 Figure 16: Market price per share 27 List of Tables [pic] Table 1: Analysis of Sales Revenue 10 Table 2: Shareholding Information 11 Table 3: Shareholders equity 17 Table 4: Financial Performance 25 Table 5: Appropriation of Profit 26 Executive Review [pic] In the era of competition‚ to achieve the economic strength‚ a firm must run smoothly‚ effectively and efficiently. Adaptation of proper
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Critically assess the uses and limitations of financial statements The definition for a financial statement is a written report which quantitatively describes the financial health of a company. (www.investorwords.com) It consists of a balance sheet‚ income statements and a cash flow statement. This essay will critically asses the uses and limitations of each of these types of financial statements for a business. A balance sheet shows the financial condition of a business at a specific date (Langemeier
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examines financial ratio analysis by defining‚ the three groups of stakeholders that use financial ratios‚ the five different kinds of ratios used and their applications‚ the analytical tools used in analysis‚ and finally financial ratio analysis limitations and benefits. The paper illustrates that financial ratio analysis is an important tool for firm’s to evaluate their financial health in order to identify areas of weakness so as to institute corrective measures. While financial ratio analysis
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