Hrm/531 Week 1

In accounting there is much to be learned, about the financial aspects of a business. In the past five weeks I have learned the importance of financial reports and how they relate to the success of an establishment. These reports may include balance sheets and income statements, which help accountants and the public grasp the overall financial condition of a company. The information in these reports is really significant to, managers, owners, employees, and investors. Managers of a business can take and deduce financial

investors, auditors, executives of the business, etc.) an overview of the financial results and condition of the company. The major financial statements that come out of the accounting cycle are income statements, balance sheets, Statement of cash flows and Statement of retained earnings. Income statements are considered the most important of all the financial statements since it presents the operating results of an entity , e.g. revenues, expenses, and profits/losses generated during the reporting period (Bragg, 2017). Balance sheets provide reports of assets, liabilities, and equity of the entity as of the reporting date and can be considered the second most important statement because it provides information/figures about the liquidity, as well as the capitalization of a company (Bragg, 2017). Statement of cash flows exhibits the cash inflows and outflows that occur during a reporting period, which provides a useful comparison to the income statement, particularly when the amount of profit or loss reported does not reflect cash flows encountered by the businesses (Bragg, 2017). Statement of retained earnings is the least used financial statement that provides information regarding changes in equity during the reporting period and can include information such as: sale or repurchase of stock, dividend payments, and changes caused by reported profits or losses. Statements of retained earnings are often

When you’re looking at the income statement, you can get information about profitability for a particular period. This is also called the profit and loss statement. The income statement is composed of both income and expenses. This statement can be used to deduct expenses from income and report either a net profit or net loss for that period. This statement will deduct all expenses from income and then report your net profit or net loss for that period. This will allow the business owner to determine if the business is bringing in a good amount of revenue to make a profit. The cash flow statement shows the movement in cash and balance over period. The cash flow can vary depending on the operating activities, investing and financing activities. This statement provides one business owner with insight to the company’s liquidity which is vital to the growth of the business. Reinvesting in business is very important, looking at the statement of retained earnings will tell a business owner how much were reinvested in the company. After profitable period, every big business has to give some of its profits to stockholders, and keep the rest amount as retained earnings. Out of all statements, retaining statement is important to companies that sells stocks to the public. This statement can also provide you with assets and liabilities information. These informations can be used to assess the financial health of your business. The results of a balance sheet will help the business owners to show the risk of liquidity and credit. Looking at these information you can measure trends and relationships to show where in the areas you can improve. These can also be compared to similar companies to show how the business measures up to leading competitors (Ali, 2010). In summary, the financial statements can provide a business owner

I would do this by stating that a compensation professional can be a full time employee that knows the company and what the company need, they can be cost effective, and there is a level of commitment. When discussing knowing a company, this also means knowing the customers and the competition. The compensation professional can learn who the customers are, what the needs are of the customer, and even why they actually buy or use the service. With the compensation professional being full time, the employee can do the research needed to find this information. They can also aid in the process of find the ends and out of the competition. This gives the business a competitive edge. In addition, knowing and understand the needs of the customer is the centre of a successful business. This information or knowledge, one can use

I would meet with Kate privately so my feedback does not embarrass her in front of her coworkers. I would tell Kate that her performance is exceptional and how valuable she is to the company. After I have given her recognition, I would inform her that I have received customer complaints and the fact that she does not work well with her coworkers proves that it was not a one-time thing. I would tell her about the importance of working well with both the coworkers and the customers. This feedback will include how teamwork and customer satisfaction is important to our organization and without it our company does not perform well. I would allow her to ask for any clarifications. I would stay positive and collaborate with her on finding ways she can improve her behavior. I would end the conversation with acknowledging her capabilities again.

Week 12 consisted of us having completed an individual draft of Part’s 1 and 2 to look at. These drafts were placed into our Google drive, making it easier to look at them as a whole for our group. We then met up that Friday to discuss and create a second draft with our collaborated and agreed upon works. Due to Amy not being here for this one, she made sure her documents were there ahead of schedule to use. I also had gotten several different resources to look at to aid us in creating our strategic plan. We chose our recommended resources.

Molly needs to gather information why these accounts are discharged and they are not billed yet. Some of the possible reasons why bills sat there for so long after patient are discharged include the following;

Team “C” was hired by Riordan Manufacturing management to overhaul the security features currently employed by the company. Management outlined a comprehensive plan that included a complete hardware refresh, security best practices and end user training. Team “C” will devote resources to assess the physical and network security issues and concerns at each Riordan plant. Once those have been identified, Team “C” will identify the data security issues and concerns present at each Riordan plant. Finally, Team “C” will address web security issues and concerns present at each Riordan plant and recommend a way forward for the company.

As the Ground Station software lead for the Triton Unmanned Air Vehicle (UAV) program, I recognized that the review of software Contract Data Requirements List (CDRL) items had become a continuous “do loop” and was tying up valuable program resources. My team was responsible for the review of over 30 CDRLs and their preparation and review was costing the program almost $15,000 apiece for each review cycle. We had fallen into a rut where the documents were submitted, my team along with subject matter experts would review and provide comments. The contractor team would then respond to these comments without any coordination and resubmit the documents. My team would not agree with the adjudication of the comments so the review process would start all over again. This process needed to improve to save the program both time and money.

Assess the degree to which the firm’s accounting reflects the underlying business reality. Identify accounting distortions and evaluate their impact on profits and the sustainability of profits.

The “financial statements are formal reports providing information on a company's financial position, cash inflows and outflows, and the results of operations” (Hermanson, p.22). There are four main components that make up a financial statement. The four parts are, balance sheet, income statements, cash flow and, statement of owner’s equity. The balance sheets role is to define the company’s assets liabilities and revenue of the business. The income statement shows the income within the company. Cash flow reviews the position of the company by cash payments and receipts. Lastly, the statement of owner’s equity shows the amount of earnings, stock and other capitals of people in the company. (Hermanson, p.34-35).

Landry’s Debt to Asset ratio also increased from year 2002 to 2003. In 2002 Landry had a debt to asset ratio of 0.39. In 2003 Landry’s debt to asset ratio increased to 0.45. While both numbers are acceptable and considerably low, the increase from 2002 to 2003 could influence potential investors to not invest in Landry’s stock. This increase also suggests that Landry’s debt also increased from 2002 to 2003. Overall, while there was a slight increase from 2002 to 2003 Landry’s still had a good debt to asset ratio. We think that a contributing factor to the debt

Each user of the financial statements interprets the information in a different manor. They use the information to determine their interactions with the organization. Management, investors, and employees use the same information from the financial statements but for different purposes. These four basic statements are the fundamentals of accounting which can be much more detail and complex. They do not need to be more complex for the users of the information; these basic statements have all the information needed to make

have explained that the Financial statements provide asummarized view of the financial position and operations of a firm. Therefore, much can belearnt about a firm from a careful examination of its financial statements as invaluabledocuments / performance reports. The analysis of financial statements is, thus, an important aidto financial analysis.

Balance sheets and income statements are a snapshot of a company’s stability and financial situation. Combined the statements show the income, expenses, and stockholder’s equity in the company. These statements are often analyzed by financial institutions when a company comes to them needing a loan. Stockholders and other investors also look at these statements to make sure their investment will return a profit for them. This paper will look at four different companies and their balance sheets and income statements. The companies are Eastman Chemical Company, Covenant Transportation