ACC 201 Project Summary Report
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Southern New Hampshire University *
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201
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Accounting
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May 21, 2024
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Summary Report: Financial Statements
1
Summary Report: Financial Statements
Reanna Diaz
Southern New Hampshire University
Summary Report: Financial Statements
2
Introduction
The purpose of this analysis of financial data is to provide a detailed report of accurate information for entities such as potential investors, business partners, banks, and creditors. The information in this report assesses your company’s gross profitability. Financial statements like these allow current and future business partners to determine your ability to maintain financial commitment. With this information, they have the ability to make an informed decision on their investment in doing business with your company. Process
My financial analysis is to determine your company’s performance in your internal and external environment to assist potential business partners. An evaluation of all financial elements
concerning your company’s overall financial health was conducted to obtain this information. The income statement provides a picture of your ability to produce income and maintain the cost of a functioning business. The balance sheet provides your current and future business partners a view of your assets and liabilities at the date requested, providing accurate and up-to-date information; giving them the ability to determine their investment or credit decision to assess their rate of return. Your statement of stockholder equity discloses your company’s total assets after deducting your total liabilities. At the end of each reporting cycle, your final closing entries are determined by zeroing out and closing interim accounts and transferring their open balance to
permanent accounts. Each of these financial statements plays a role for different types of investors looking to do business with your company. Financial Statement Analysis
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Related Questions
• Identify a company, business, or organization in your community (it can be one for which you work), and share some
examples of current and long-term liabilities for that company. Reflect on the financial statement presentation
requirements for the company's current and long-term liabilities. Based on what you have learned, what changes
would you make, if any? Why, or why not?
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Please help with explaining how I can answer the following if I chose the role of an investor:
choose the role of an investor, creditor, taxpayer, or benefactor of one of the organizations they have presented. Referring to the information provided by your classmates related to the informational needs of the user group you have chosen, state whether the objectives of financial reporting they have listed meet your needs, whether any additional information is needed by your user group, and why this information would be beneficial to the financial decisions you would need to make. Are there any additional objectives that should be listed for your user group, if so what are they? How do your needs differ from the other user groups?
The information is below:
For both our initial discussion and my final project, GEB will be the nonprofit (NFP) organization I study along with Peekskill, NY as the local government. Both are in neighboring towns to my home base. Home Depot will be the…
arrow_forward
Who will be a user of financial statements, and what will they be used for?
Question 17 options:
Lenders will use financial statements to decide whether to invest in a company.
Investors will use financial statements to decide whether to lend money to a company.
The marketing department is interested in the operating income figures in the financial statements.
Managers will use financial statements to make decisions about their company.
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According to Conceptual Framework, what is the primary objective of financial reporting?
Select one:
Provide information about those investing in the entity
Provide information that is useful to management
Provide information that is useful to those making investing and credit decisions
All of these answer choices are correct
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Investors analyze the financial statements to____________.
Decide whether the company has the ability to repay interest and the principal
Decide whether the company will buy new assets
Determine whether the company would provide employment opportunities
Determine the financial viability of the company and estimating its future performance
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Discuss how the contents of your organisation’s annual financial statements can demonstrate business performance to external stakeholders for example lenders and investors. Within your discussion you are required to explain FIVE different financial ratios which would be of relevance to these stakeholders
arrow_forward
Describe the following stakeholders’ objectives and what a financial managerneeds to be mindful of when considering their influence on the business.1. Long-term credit providers
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Which of the following would be part of a financial manager's investment decision? *a. Collecting receivables from customersb. Paying loansc. Allocating funds for permanent current assetsd. Paying dividends to shareholders
arrow_forward
Select all that apply When businesses need to finance growth, from which of the following sources can they seek assistance? (Check all that apply.) Multiple select question. Financial markets
Financial boards of governance Financial institutions Financial accountants
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Identify the following statements and match it with the one of the qualitative characteristics of financial statement.
Submitted Answers
Prompts
Choose a match
The information provided to user to determine the
company's growth or future potential
Neutrality
The financial Statements most be produced within a certain
period that users can take advantage of information to make
Predictive Value
informative decision.
Financial Statement is complete, neutral and free of material
O Faithful represented
statement, it means that it is..
Timeliness
The information provided in the financial statement should
not be biased to specific group of users.
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Question: XYZ Company, a retail business, wants to evaluate its financial performance for the current fiscal year. As a financial analyst, you have been tasked with conducting a comprehensive financial analysis. Develop a detailed set of questions that cover various aspects of the company's financial health, including profitability, liquidity, solvency, efficiency, and market performance. Additionally, explain the importance of each question in assessing the company's financial position and making informed business decisions. Your analysis will consider key financial ratios, trend analysis, and comparisons with industry benchmarks to provide a holistic evaluation of XYZ Company's financial performance.
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Directions
Use the case method to apply concepts, share ideas, and
improve communication skills toward solving a complex
business problem.
You must read the case carefully. Various assigned
readings in this course lean toward value investing.
Concepts related to financial statements and long-term
financial planning (chapter 2, 3) and valuation and future
cash flows (chapter 5, 6, 7, 8) will help you analyze the
cases.
Mini-Case Analysis 1: Amazing Brentwood Inc.
Amazing Brentwood Inc. bought a long-term asset for
$100,000. The asset has a 30% CCA rate. At the end of
year 5, the firm sold the asset for 25% of its original
value.
In the year 2018, the firm just paid $420 in dividends and
$611 in interest expense. The addition to retained
earnings is $397.74 and net new equity is $750. The tax
rate is 34 percent. Sales are $6,250 and depreciation is
$710.
1.
Given this information, determine the value of the
terminal loss or recapture at the end of year 5.
2.
What are the earnings before…
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Short Answer Essay Question:
DAS
• Understanding Fundamentals of Personal Finance
• Career Planning
• Financial Statements, Tools, and Budgets
• Managing Income Taxes
• Managing Checking & Savings Accounts
• Building & Maintaining Good Credit
• Credit Cards & Consumer Loans
• Vehicles & Other Major Purchases
What are three key things you have learned from any of the areas above, that you have adopted in your own personal financial
management practices?
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Mastery Problem: Financial Statement Analysis
Question Content Area
Liquidity and Solvency Measures
Your friend, another accountant, has bet you that with your knowledge of accounting and just the computations for common analytical measures, you can figure out many aspects of a company's financial statements. You take the bet!
Match each computation to one of the liquidity and solvency measures in the table. (Hint: Begin by looking for simple computations and identifying the amounts in those computations. Look for other measures that use those amounts.)
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Which of the following users assesses the attractiveness of investing in a business
A. Bank
B. Employees
C. Financial Analysts
D. Tax authorities
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Part AThe corporate disclosure practice will help all the stakeholders to understand and measure businessoperation. Annual financial statement and particularly income statement is one of the most important ones.However, a company's reported profits will be impacted by different factors, including when particulartransactions and events are recognised and how such transactions and events are measured.Requirement:1) Using earning management concept, discuss why the timing of recognising events that impactincome, revenue or profit or expenses are important for managers?"Maximum 1000 words."Part BABC Ltd has incorporated a bonus plan that rewards the board of directors (executive members) by providinga bonus of 3 per cent of reported profits. This is an Accounting-based incentive that has the advantage whichthe accounting results may be based on subunit or divisional performance."A well-informed labour market will motivate management to work to maximise the value of its…
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Maintaining relation with financiers comes under ______________ objective of financial management.
a.Research Objectives
b.Social Objectives
c.Basic objectives
d.Operational Objectives
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Terminal
Activity
"People Behind Financial Management"
Career in Financial
Management
1.
2.
3.
4.
Having learned about the stakeholders in financial
management, you may now complete the TABLE
below by looking around you and finding out what are
the different careers available to those who study and
specialize in financial management.
5.
Roles
Responsibilities
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Discuss the following topic(s) in the forum and submit proof of your participation in the online discussions:
What are the qualitative factors that analysts should consider when evaluating a company’s likely future financial performance? Explain.
Discuss the importance of socially responsible investment (SRI) and how it adds value to investors.
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SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Pkg Acc Infor Systems MS VISIO CD
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ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Related Questions
- • Identify a company, business, or organization in your community (it can be one for which you work), and share some examples of current and long-term liabilities for that company. Reflect on the financial statement presentation requirements for the company's current and long-term liabilities. Based on what you have learned, what changes would you make, if any? Why, or why not?arrow_forwardPlease help with explaining how I can answer the following if I chose the role of an investor: choose the role of an investor, creditor, taxpayer, or benefactor of one of the organizations they have presented. Referring to the information provided by your classmates related to the informational needs of the user group you have chosen, state whether the objectives of financial reporting they have listed meet your needs, whether any additional information is needed by your user group, and why this information would be beneficial to the financial decisions you would need to make. Are there any additional objectives that should be listed for your user group, if so what are they? How do your needs differ from the other user groups? The information is below: For both our initial discussion and my final project, GEB will be the nonprofit (NFP) organization I study along with Peekskill, NY as the local government. Both are in neighboring towns to my home base. Home Depot will be the…arrow_forwardWho will be a user of financial statements, and what will they be used for? Question 17 options: Lenders will use financial statements to decide whether to invest in a company. Investors will use financial statements to decide whether to lend money to a company. The marketing department is interested in the operating income figures in the financial statements. Managers will use financial statements to make decisions about their company.arrow_forward
- According to Conceptual Framework, what is the primary objective of financial reporting? Select one: Provide information about those investing in the entity Provide information that is useful to management Provide information that is useful to those making investing and credit decisions All of these answer choices are correctarrow_forwardInvestors analyze the financial statements to____________. Decide whether the company has the ability to repay interest and the principal Decide whether the company will buy new assets Determine whether the company would provide employment opportunities Determine the financial viability of the company and estimating its future performancearrow_forwardDiscuss how the contents of your organisation’s annual financial statements can demonstrate business performance to external stakeholders for example lenders and investors. Within your discussion you are required to explain FIVE different financial ratios which would be of relevance to these stakeholdersarrow_forward
- Describe the following stakeholders’ objectives and what a financial managerneeds to be mindful of when considering their influence on the business.1. Long-term credit providersarrow_forwardWhich of the following would be part of a financial manager's investment decision? *a. Collecting receivables from customersb. Paying loansc. Allocating funds for permanent current assetsd. Paying dividends to shareholdersarrow_forwardSelect all that apply When businesses need to finance growth, from which of the following sources can they seek assistance? (Check all that apply.) Multiple select question. Financial markets Financial boards of governance Financial institutions Financial accountantsarrow_forward
- Identify the following statements and match it with the one of the qualitative characteristics of financial statement. Submitted Answers Prompts Choose a match The information provided to user to determine the company's growth or future potential Neutrality The financial Statements most be produced within a certain period that users can take advantage of information to make Predictive Value informative decision. Financial Statement is complete, neutral and free of material O Faithful represented statement, it means that it is.. Timeliness The information provided in the financial statement should not be biased to specific group of users.arrow_forwardQuestion: XYZ Company, a retail business, wants to evaluate its financial performance for the current fiscal year. As a financial analyst, you have been tasked with conducting a comprehensive financial analysis. Develop a detailed set of questions that cover various aspects of the company's financial health, including profitability, liquidity, solvency, efficiency, and market performance. Additionally, explain the importance of each question in assessing the company's financial position and making informed business decisions. Your analysis will consider key financial ratios, trend analysis, and comparisons with industry benchmarks to provide a holistic evaluation of XYZ Company's financial performance.arrow_forwardDirections Use the case method to apply concepts, share ideas, and improve communication skills toward solving a complex business problem. You must read the case carefully. Various assigned readings in this course lean toward value investing. Concepts related to financial statements and long-term financial planning (chapter 2, 3) and valuation and future cash flows (chapter 5, 6, 7, 8) will help you analyze the cases. Mini-Case Analysis 1: Amazing Brentwood Inc. Amazing Brentwood Inc. bought a long-term asset for $100,000. The asset has a 30% CCA rate. At the end of year 5, the firm sold the asset for 25% of its original value. In the year 2018, the firm just paid $420 in dividends and $611 in interest expense. The addition to retained earnings is $397.74 and net new equity is $750. The tax rate is 34 percent. Sales are $6,250 and depreciation is $710. 1. Given this information, determine the value of the terminal loss or recapture at the end of year 5. 2. What are the earnings before…arrow_forward
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SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage LearningManagerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College PubPrinciples of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
- Pkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE L
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L