What is financial reporting? The traditional function of financial reporting was to provide business owners with information about the companies that they owned and operated. Once the delegation of managerial responsibilities to hired personnel became a common practice‚ financial reporting began to focus on stewardship—that is‚ on the managers’ accountability to the owners. Its purpose then was to document how effectively the owners’ assets were managed‚ in terms of both capital preservation and
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(Name of the Corporation) Notes to Financial Statements For the year ended (Date) ------------------------------------------------- 1. CORPORATE INFORMATION (This portion will depend on the nature of the business) (Corporation’s Name) is a duly registered non stock corporation under registration number (Registration Number) and its principal office is located at (Address). The amended articles of incorporation were approved on (Date of Approval) and the expiration is on (Date of Expiration)
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APPLE THREE-YEAR FINANCIAL HISTORY Results of Operations (in $ millions‚ except shares in thousands‚ per share amounts) Net sales: Domestic International Total net sales Costs and operating expenses: Cost of sales Research and development (R&D) Selling‚ general and administrative (SG&A) Total operating expenses Operating income Other income/(expense)‚ net Income before provision for income taxes Provision for income taxes Net income Diluted earnings per share Shares used in computing diluted earnings
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Questions 1. Which of the following is not a reason for economic income and accounting income to differ? A. Transaction basis B. The monetary assumption C. Conservatism D. Earnings management 2. As a general rule‚ revenue is normally recognized when it is: A. measurable and earned. B. measurable and received. C. realizable and earned. D. realizable. 3. Which of the following measures of accounting income is typically reported in an income statement? A. Net income B. Comprehensive income C. Continuing
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ANALYSIS OF FOREIGN FINANCIAL STATEMENTS Chapter Outline I. Reasons to analyze financial statements of foreign companies include: • making foreign portfolio investment decisions‚ • making foreign merger and acquisition decisions‚ • making credit decisions about foreign customers‚ • evaluating foreign suppliers‚ and • benchmarking against foreign competitors. II. There are several problems an analyst might encounter in analyzing foreign financial statements‚ including: • finding
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Financial Statement Analysis Project The Boeing Company November 11‚ 2004 Table of Contents I. Firm‚ Industry‚ and Environment 4 A. Description of firm and environment 4 B. Discussion of competitive environment 6 C. Economic climate and outlook 8 D. Other relevant factors‚ e.g. governmental regulations‚ labor relations‚ litigation‚ etc. 8 II. Evaluation of Balance Sheet 10 A. Description of asset structure 11 a. Current Assets 11 b. Customer and commercial financing 12 c.
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Course Name: Financial Statements Analysis Semester: III Faculty Name: Room No: F-206 Wing No: F Block Consultation Hours: between Mobile No: 98494 68134 Email: lnpappu@hotmail.com Course Objective: To enable students have an in-depth understanding of analysing Financial Statements including various assets‚ liabilities‚ and equity. To enable the student to extend the understanding of analyzing and interpreting financial statements of all types
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Table of Contents Introduction 2 How it happened? 2 Financial Reporting Issues 3 Trading Business and Mark to Marketing 3 Reporting Issues for Special Purpose Entities 3 Other Accounting Problems 4 Governance and Intermediation Failures at Enron 4 Role of Top Management Compensation 4 Role of Audit Committees 4 Role of External Auditors 4 Role of Fund Managers 5 Role of Accounting Regulations 5 The Sarbanes Oxley Act 5 Did it help? 5 Bibliography 6 Introduction Kenneth
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continents and were introduced to the Americas and Australia by European settlers. The western honeybee is comprised of some 24 races or sub-species. The African honeybee‚ sometimes referred to as ‘Killer bee’‚ is a race of the western honeybee and can therefore cross-breed. Bees collect pollen and nectar. Pollen is the protein source needed for bee brood development while nectar is the carbohydrate source providing energy. Nectar is a sugar solution produced by flowers containing about 80% water
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Value-Added Strategies: How To Compete Against Price By: John A. Caslione‚ Andrew-Ward International‚ Inc. www.caslione.com The following article by John Caslione shares two examples of value- added strategies from United Parcel Service and British Sugar Ltd‚ Europe. Executives must learn new tools and strategies to fight against discounting in the marketplace and help grow profits in today’s harsh economic climate. This will help you to maximize your ROI and win sales without resorting to price
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