Financial Reporting Accurate financial reporting is paramount to the establishment of a level playing field for businesses. It also aids in analyzing trends in business and the economy. The first part of the research paper should outline the different offices and bureaus of financial reporting and why they are significant. The second part of the research paper will present some positive and negative examples of financial reporting results and offer analysis about them. These examples can incorporate
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| | | | | | | | | | | | | | | |Learner name | | | | | | | | | | | | | | | | | | |Course title |Financial Systems and Auditing | | | | | | | | | | | | | | | |Assessor name |XIAOLIN WANG | | | | | | | | | | | | | | | | | |IV name |Hu Dalong | | | | | | | | | | | | | | | | | |Unit number and title |Unit11: Financial Systems and Auditing | | | | | | | | | | | | | | | |Assignment title |Financial Systems and Auditing Assignment 1 | | | | | | | | | | | | | | | |Outcome number(s) |11. 1 & 11.2
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FINANCIAL STATEMENTS Accrual-based approach – revenues are recorded at the point of sale and costs when they are incurred‚ not necessarily when a firm receives or pays out cash Cash flow approach – used by financial professionals to focus attention on current and prospective inflows and outflows of cash 1. Balance sheet a. Assets Cash and Cash Equivalents Marketable securities Accounts receivable Inventories Net property‚ plant and equipment Intangible assets b. Liabilities Accounts
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THE PHILIPPINE FINANCIAL SYSTEM 2.1 Basic Building Blocks of a Financial System Financial System is the system that allows the transfer of money between savers (and investors). It can operate on a global‚ regional or firm specific level. Gurusamy‚ writing in Financial Services and Systems has described it as comprising "a set of complex and closely interconnected financial institutions‚ markets‚ instruments‚ services‚ practices‚ and transactions”. Basic building Blocks of Financial System 1. Money
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Abstract Financial Innovation has been the backbone of our modern financial system. It has revolutionised the way we spend‚ receive and borrow money‚ however through the recent global financial crisis and negative connotations that have been attached to the term‚ people have doubted the positive notions it has had. It is important to distinguish between innovation itself and how it can be used or misused. Recent Financial Innovation has thwarted real economic growth and has been the blame for the
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FINANCIAL MANAGEMENT – AN OVERVIEW Unit structure: 1. Introduction 2. Learning objectives 3. Section title Meaning Definition Objective Advantages of wealth maximization Criticisms of wealth maximization Scope & Functions of Financial Management Role and function of the finance manager Financial Management and Economic Financial management and Accounting Evolution of financial management Functional areas of financial management Financial decisions Have you understood questions
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not changed the work that accountants do. C. Has closely linked accounting with consulting‚ planning‚ and other financial services. D. In accounting has replaced the need for decision makers. E. In accounting is only available to large corporations. 3. The primary objective of financial accounting is: A. To serve the decision-making needs of internal users. B. To provide financial statements to help external users analyze an organization ’s activities. C. To monitor and control company activities
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FINANCIAL RATIOS Financial ratios are indicators of a company’s performance as discernable from the company’s Balance Sheet and income Statement. We will discuss some of the simple ratios of a company and talk about their significance. Liquidity Ratios: Show the company’s ability to pay of its current liabilities from its current assets. 1. Current Ratio Current assets should be significantly higher than current liabilities so that the current ratio is higher than 2:1. 2. Quick Ratio
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The recent financial crisis has provided evidence that financial markets are not efficient. Critically‚ evaluate this statement and its implications for investment management practice. In reality a financial market can’t be considered to be extremely efficient‚ or completely inefficient. The financial markets are a mixture of both‚ sometimes the market will provide fair returns on the investment for everyone‚ while at other times certain investors will generate above average returns on their investment
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1. What three trends affect business management in general and financial management in particular? ANSWER: 1.The increased globalization of business 2. Ever-improving information technology 3. Corporate governance or the way the top managers operate and interface with stockholders. 2. What’s the difference between a stock’s current market price and its intrinsic value? ANSWER: Market price is based on perceived but possibly incorrect
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