The Consolidated Statements of Earnings or the income statement tells financial statement users that there was a decrease in gross profit and net sales for the fiscal year 2008. The Consolidated Statements of Earnings show that the closing of underperforming stores‚ removal of new store openings from the pipeline‚ and staff reductions in many Home Depot projects resulted in $951 million in pretax charges. The difference profit and net sales is also a cause of fiscal year 2008 being 52 weeks and
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Running Head: FINANCIAL STATEMENTS Financial Statements Paper Ricardo E Mendoza University of Phoenix Principles of Accounting Sandra Hernandez 21 January 2010 Abstract In this paper I will discuss about the definition of accounting and the different financial statements that are use to monitor all the tangibles that flows within a company and how they relate to each other to control the flow of monies on any given business. Financial Statements Paper What is the purpose of accounting
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Chapter 1: Overview—The Financial Statements Chapter 1 introduces the four financial statements--Income Statement‚ Statement of Retained Earnings‚ Balance Sheet‚ and Statement of Cash Flows. Accounting as the language of business is discussed along with an introduction of the various users of accounting information. Financial and Managerial accounting are compared. The four ways to organize a business – proprietorship‚ partnership‚ limited – liability company‚ and corporation‚ are discussed
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Purpose of Financial Statements The objective of financial statements is to provide information about the financial position‚ performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions (IASB Framework). Financial Statements provide useful information to a wide range of users: Managers require Financial Statements to manage the affairs of the company by assessing its financial performance and position and taking important business
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Summer Training Project Report On “Ratio Analysis and Comparative Study of Financials of IOCL with its Competitors” Submitted for partial fulfilment of the Award Of Master of Business Administration DEGREE (2011-2013) SUBMITTED BY ARUSHIBHUTANI 1103270034 UNDER THE GUIDANCE OF Internal Guide:JayaPandey School of Management ABES ENGINEERING COLLEGE‚ GHAZIABAD AFFILIATED TO MAHAMAYA TECHNICAL UNIVERSITY‚ NOIDA Candidate’s Declaration/Certificate I “ARUSHI BHUTANI” hereby
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TABLE OF CONTENTS 1. Introduction …………………………………………………….… 2. Literature Review.………………………………………………. 3. Methodology ……………………………………………………… 4. Data Analysis and Interpretation ………………………………. 5. Conclusion and Result ……………………………………………. 6. Bibliography ………………………………………………………. 7. References …………………………………………………………. 8. Annexure ………………………………………………………….. INTRODUCTION Mankind is insecure by nature. Unlike an animal whose requirements do not exceed beyond food for its
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Financial Statements Paper There are for basic financial statements in accounting. Each one of these statements has their one nook within a company either negative or positive. The four are; the balance sheet‚ the income statement‚ the statement of retained earnings‚ and the statement of cash flows. I will discuss the how each is useful to both external and internal users. In the conclusion of this paper you will also understand the importance of each of these as well
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What ’s your favorite financial statement and why?" The question was spoken quickly and with a tinge of annoyance‚ as my interviewer eyed me disdainfully from his cushy black leather chair. The investment banker had little time to conduct these ridiculously long interviews that are standard fare for analyst candidates. I shifted uncomfortably in my seat and scanned my frazzled brain for the "right" answer. "Well‚ of course all three financial statements should be studied in conjunction
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Financial Statements Fraud Table of Contents Introduction ........................................................................................................ 1 Definition ............................................................................................................. 1 Purpose of Financial Statements Fraud ..................................................... 1 Financial Statement Fraud Schemes
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Graduate School of Management ACCT 551 Course Project Notes to Financial Statements Table of Contents I. Cover Page 1 II. Table of Contents Page 2 III. Tropical Pool Cleaning Income Statement Page 3 IV. Tropical Pool Cleaning Balance Sheet Page 4 V. Notes to Financial Statements Page 5 VI. Reference Page 9 Notes to Consolidated Financial Statements NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 1
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