Bridging Accounting Assignment

Financial Statement Relationships Separately, the balance sheet reports a company’s financial position while the income statement reports a company’s fiscal year profits and losses. The balance sheet measures a company’s financial position by reporting its assets, liabilities, and

The financial statements include profit-related elements such as operating cash flows from the statement of cash flows and retained earnings in the balance sheet the income statement shows the profit through the information it provides on net income during each year. There are different forms and different elements of income statement used depending on the company's business.

1. Executive summary The primary purpose of this business research report is to estimate the relevant disclosure form the latest annual report 2016 regards to PPE and whether these disclosures satisfies the CF 's objective and qualitative characteristics. This report examines and assess on how the PPE

Items included in other comprehensive income shall be classified based on their nature. For example, under existing accounting standards, other comprehensive income shall be classified separately into foreign currency items, minimum pension liability adjustments, and unrealized gains and losses on certain investments in debt and equity securities. Additional classifications or additional items within current classifications may result from future accounting standards.

* A balance sheet is snapshot of the financials for that organization (with assets on the left and liabilities on the right side) for that particular date that was requested

Significance of Financial Statements Financial statements provide financial decision makers with varied information presented in specific formats that is easily attainable tools to evaluate financial health. Three of the necessary financial statements are the statement of financial position or the balance sheet, operating statement also called income statement, and the statement of cash flows (Finkler, Jones, and Kovner, 2013).

Financial Statement Analysis The goal of the Patient Protection and Affordable Care Act in 2010 was to expand the assess to care for all American citizens and to reduce the cost of health care in the United States. Therefore, many executives of Health Care Organizations (HCOs) confront with key issues

The specific course learning outcomes associated with this assignment are: Identify and explain the fundamental concepts and principles in accounting, the components of the accounting equation, the primary financial accounting equation, and financial statements and reports.

We have audited the accompanying statements of financial position of X Entity as of December 31, 20X1 and 20X0, and the related statements of comprehensive income, changes in equity and cash flows for the years then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

Financial reports consist of a statement of financial position, statement of comprehensive income, statement of changes in equity, statement of cash flows, notes, directors' declaration, directors' report and the auditor's report. The financial statements need to be prepared in accordance with applicable accounting standards, making the necessary disclosures in order to be transparent and fully inform readers about the activities and financial situation of the entity.

 Table of Contents Assignment Objective: The main aim of this assignment is to present an exploration of two major parts of financial statements i.e. Statement of Comprehensive income and statement of financial position. This is done by comparing elements of Balance Sheet and income statement of two separate companies and discussing similarities

MATCHING I – 7.5 points For each of the items listed below, indicate how it should be treated in the financial statements.  Use the following letter code for your selections:

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).

1. Discuss methods (Accounting Policies) your chosen company uses to account for its various items of assets, liabilities, and shareholder equity:

QUESTIONS The financial statements are very useful to all this group of user. Explain each of them;