Financial Statement Paper When people think of a business the first thing that most probably will come to mind is profit. Accounting has so much to do with profit and much more. Without accounting owners of the business would not be able to see what is truly going on with the company. Simple to understand and read, accounting is not hard to figure out, it simplifies the mess of a company into four basic sheets of paper. With any business, no matter how big or small, accounting helps summarize where they stand financially. The four basic, but informative statements do exactly that. These statements are, the balance sheet, the income statement, the statement of retained earnings and the statement of cash flow. The purpose of the balance sheet it simple, it “balances” the assets with the liabilities and the stockholders equity. It is a fairly simple statement that can be understood and written, using the balance sheet equation of assets are equal to the liabilities plus stockholder equity. The income state reports what most people want to know at the end of every month if not every day PROFIT. To get the pure profit that the owner can take home is simple, simply take the revenue and subtract the expense and the answer will be the net income, also known as profit. In the statement of retained earnings it shows the owner exactly how much his/her net income was, if there was any, after dividends have been distributed. Finally the statement of cash flow allows the owner to see exactly what is happening with every penny of the companies. Exactly how much cash are coming in and how much cash is going out. These statements are inner linked as well. All link to the balance sheet at the end of the day. These financial statements plus others are great tools that allow owners to see how their business is doing and make changing that can be positive for them. If they don’t understand where the money in their business is being spent then how can they begin to understand from where will the capital gain come from? Using an example of a hardworking business owner that is struggling to stay afloat with his business. This owner can be great at the service that he is providing to his customers, but he doesn’t do the “paperwork” after the day is done and even before he opens his store to understand exactly where a major portion of his money is being spent. Without knowing how the cash flow of the business is being spent, people can fall into great debt without knowing. These documents are great tools, which allow managers, owners and employees to comprehend where the business stands during that certain point in time. Figuring out payroll, finding out if they are making the reflected sales goals for that week are great ways of figuring out how the business is doing day by day. It also helps the owner know if they need to stock up on any supplies that might be selling out. These four valuable documents are great for the insider, managers, and owners, but it is just as valuable for external users as well. External users, such
Acc/362 Principles of Accounting 1
Financial Statements Paper I
Target is a department store that was founded in Minneapolis, Minnesota. This company has been around for over a hundred years. Target started as Dayton’s in 1902. The market has had its up and downs and the financial records of Target are no different. The financial records show the assets and the liabilities and the balancing of the finances. The opening and closings are shown as well.
1. What are the company’s…
decisions. All activities are put into categories in fiscal words, as per their financial assumption, and placed in specific accounts in journals, and ledgers. This is the procedure of bookkeeping, which then allows the data created from bookkeeping to be utilized to produce correct and timely financial statements for the organization.
Two key divisions of accounting incorporate managerial accounting as well as financial accounting. Managerial accounting assists people in dealing with their finances…
September 30, 2013
Financial statements are key components to a successful business. It is important that a business keep great financial records. Doing so can make or break any company. If a business wants to be successful and profitable, their records need to be up to date and error free. A business should do audits to ensure that every T is crossed and I dotted. There are four basic financial statements. The four…
Financial Statement Paper
Acc/280 principles of Accounting
August 17, 2011
Financial Statement Paper
Accounting is a service activity. The function of accounting is to provide quantitative information, dealing with finance, about economic entities that is intended to be used in making economic decision. Accounting is a systemic recognition, and a representation of financial information to assist in decision making.
Every business generates profit…
Running head: FINANCIAL STATEMENT ANALYSIS PAPER
Financial Statement Analysis Paper
Principles of Accounting
Mr. John Opincar
June 24, 2009
Landry’s has become a successful company over the years because the customers enjoy the specialty items that they serve on their menu. It has become a company that we enjoy taking our families out to dinner, celebrating birthday parties and certain special events. However, this paper will complete the financial analysis for the reported…
Financial Statement Paper
February 27, 2013
Financial statements are used to determine the financial welfare and prospective earnings of an organization. These statements are often used by accountants, business owners, investors, and employees. In this paper, one will discuss the four basic financial statements: balance sheet, income statement, statement of retained earnings, and statement of cash flow. One will also describe the purpose of…
Week Six Research Paper: Financial Statement Anaylsis
Professor James Ridilla
December 7, 2014
Week Six Research Paper: Financial Statement Analysis
The company I have chosen for my financial statement analysis is the Walt Disney Company. All amounts stated are in millions unless stated otherwise. The Walt Disney is a diverse worldwide company with operations in media networks, parks and resorts, studio entertainment, consumer products and interactive…
* Submitted: 1
Financial Statements paper By Randy Fitzhugh
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Review the annual reports for PepsiCo, Inc. and The Coca-Cola Company in Appendixes A & B, especially the Consolidated Statements of Income and the Balance Sheets on pp. A4, A6, B1, & B2 of Financial Accounting.
Write a 1750- to 2,050-word paper in APA format with citations and references that provides a financial comparison of the two companies and your recommendations to improve the financial status of each.
Include the following:…
paperwork of XACC 280 Week 9 Final Project - Financial Analysis you will find the answers on the next questions:
Business - Accounting
Review the annual reports for PepsiCo, Inc. and The Coca-Cola Company in Appendixes A B, especially the Consolidated Statements of Income and the Balance Sheets on pp. A4, A6, B1, B2 of Financial Accounting .
Write a 1750- to 2,050-word paper in APA format with citations and references that provides a financial comparison of the two companies and your recommendations…