Financial Accounting Summary

Comprehensive Annual Financial Report (CAFR) is a report used by cities, and local governments to provide the public with their financial records each year, while adhering to government accounting standards board (GASB) guidelines. The report presents a comprehensive picture of the reporting entity’s financial condition, it provides how funds are spent and allocated throughout the year.

Fraser, L. M., & Ormiston, A. (201). Understanding financial statements (9th ed.). Upper Saddle River, NJ: Prentice Hall.

This course focuses on ways in which financial statements reflect business operations and emphasizes use of financial statements in the decision-making process. The course encompasses all business forms and various sectors such as merchandising, manufacturing and service. Students make extensive use of spreadsheet applications to analyze accounting records and financial statements. Prerequisites: COMP100 and MATH114 / 4-4

cognizant of the fact that the choices he makes can affect the price a buyer pays

The purpose of this paper is to define accounting, and identify the four basic financial statements. The paper also explains how the different financial statements are interrelated to each other and why they are useful to managers, investors, creditors, and employees.

2. (TCO 2) What are the four basic financial statements? Describe the balance sheet, and explain why it is important

Understanding the finances of a company is important but knowing the significance of the financial statements is crucial to the operations as well. Reviewing the statement of financial position, operating statement and statement of cash flows serve as a guidance to management and executives on the day-to-day activities of an organization (Finkler et al., 2013). For example, the statement of financial position (balance sheet) shows the assets and

This course provides a framework for financial accounting concepts and practices used by internal and external users in businesses. Topics presented include the accounting cycle, financial reporting, financial statements analysis, ratio calculation and interpretation, and management decision making based on financial results.

In this discussion forum assignment these issues will be discussed: What do pro forma financial statements show? What are pro forma statements based on?, And what are the strategic benefits of making financial projections on pro forma statements?

This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project

• Write an essay in 250 to 300 words an explanation of the three tools of financial statement analysis and the function of each.

Accounting transactions are professional occasion that has either a positive or negative budgetary impact on the financial statements. One impact of transactions in a financial statement will increase or decrease the accounts contingent on the transaction that has taken place. The history of revenue that has come or gone from the business will be shown on both financial statements and accounting transactions. Many businesses make several transactions daily. Errors can have a negative impact on financial statements, because the facts come from the accounting transactions

Goodwill International is a not-for-profit organization whose main objective is to offer job trainings, employment placements, and other community-based projects to individuals with disabilities. The organization also extends its services to veterans who include people who lack the necessary job experience, education, or face challenges in securing employment. The non-profit organization is financed by a chain of retail thrift stores, which also operate as not-for-profit entities in places where they are situated. Goodwill is constituted by a system of 165 community based independent organizations operating in 15 countries, including the United States, Brazil, Venezuela, Uruguay, Panama, and Canada among others. The organization

Treasury stock is a process of accounting that dates back as early as 1720. The concept of treasury stock originated when “companies discovered that they could sell shares at an unrealistically low price equal to par value incorporators, who in turn donated those shares back to the company. As a result these shares, which had already been issued though not outstanding could be sold at whatever the real market price was without adjusting for stated capital” 2. There is however, not one securely agreed upon definition, as over the years there has been a lack of unanimity as to just what should be included under the term. One commonly accepted and simple definition was stated by late Professor Glenn “of course it is a stock that has been issued and later reacquired by the same company”. Another generally accepted definition that goes into more detail was stated by Fletcher, he defines it as “Treasury stock is as its name implies, it is a stock held by the corporation in its treasury to be used or disposed of by the company in the furtherance of corporate purposes, but the courts are not in accord as to how or what procedure shares of stock acquire or take on the status of treasury stock. The courts are agreed that such stock is the personal property of the corporation to be disposed of by the company on such terms as it chooses. A difference in opinion arises as to whether treasury stock is an “asset” or “property” 6. Some of the confusion regarding the nature of treasury stock

Based on the financial ratios given, this section will compare and contrast the financial strengths of Company X and Company Y in order to suggest Tringale Ltd to take decision regarding which of the above companies to chose for investment. This section provides comments on financial performance areas based on the data given, and presents report to the Board of Directors of Tringale Ltd by recommending which of the two investment opportunities is better.