Financial Statements And Other Reports

While a budget might indicate that a specific government or agency has financial trouble and debt because of excess spending or mismanagement within the select grouping of general fund accounts presented, the CAFR may indicate, in whole, the same government entity, has many facets possessing large holdings considerably over what is shown in a budget report.

This Income Statement also known as the Earnings Statements or statement of operation, is one of the four Financial Statement used by accountants, business owner’s, and investors. The Income Statement provides a detailed look into how profitable a business has been over a designated period of time.

Financial Information Pro-forma income statements Period Ending 31-Dec-2015 31-Dec-2016 31-Dec-2017 Total Revenue 11,39 8,52 9,16 Cost of Revenue 1,68 1,29 91 Gross Profit 9,71 7,23 8,25 Operating Expenses Research Development - - - Selling General and Administrative 8,598 7,122 6,167 Non Recurring - - - Others 264 392 155 Total Operating Expenses - - - Operating Earning or Loss 848 (284) 1,933

The Open-Road Motorcycle Company is the largest online retailer of salvage title motorcycles. We are focused on bringing the customer the best value on entry level motorcycles by providing lower prices than our competitors. Our motorcycles are sold all over the United States, and we currently have 30 stores all across the country.

Financial Information Pro-forma income statements Period Ending 31-Dec-2015 31-Dec-2016 31-Dec-2017 Total Revenue 11,39 8,52 9,16 Cost of Revenue 1,68 1,29 91 Gross Profit 9,71 7,23 8,25 Operating Expenses Research Development - - - Selling General and Administrative 8,598 7,122 6,167 Non Recurring - - - Others 264 392 155 Total Operating Expenses - - - Operating Earning or Loss 848 (284) 1,933

“To state the facts frankly is not to despair the future nor indict the past. The prudent heir takes careful inventory of his legacies and gives a faithful accounting to those whom he owes an obligation of trust”, John F. Kennedy. In this quote, Kennedy expresses that the ultimate goal of finance is to gain trust from those who can help capitalize on the organization. Most importantly, it states that transparency and honesty are the best indications for building that trust. The need for trust is equally valid and critically important for healthcare organizations. As the healthcare industry grows, so does the policies and procedures for accurate and transparent accounting. Therefore, healthcare

Accountants, business owners, investors, creditors and employees use four basic financial statements of an organization to determine the financial well-being and future earnings potential of that organization. Financial statements are a key tool in seeing and understanding the past, present and future condition of an organization. What are these financial statements and what do they mean to the reader? Do the financial statements mean something completely different to an investor, creditor, and employee?

Public corporations in the United States are required to file annual reports with the Securities and Exchanges Commission which provide information in regards to current and future business ventures and a set numerical data that demonstrates the financial performance of a corporation via three types of financial statements (Melicher and Norton, 2013). The statement of income (or operations), the balance sheet, and the statement of cash flows are very important as they together provide vital information on the financial health of a corporation ensuring continued support from investors as well as document their financial history necessary for acquiring loans. The current paper hopes to

It has been suggested that the AASB should reclassify the meaning of a reporting entity to include all companies and businesses across Australia as well as internationally by the IASB due to the current confusion of who a reporting entity really is by some professionals.

This essay will begin to look at the main financial statements used by decision makers in businesses today. This essay will go into detail about the income statement and statement of financial position and whether these two statements provide decision makers with their financial information adequately. This essay will also include the various advantages and disadvantages of each financial statement as well as describing whom the decision makers are and why financial statements are important to them. A conclusion will be present at the end of this essay to demonstrate an overall view of whether financial statements are beneficial to decision makers.

Financial statements have several key components and specific criteria into them to relay the detailed information for auditors and management. A deeper look into financial statements and the many concepts surrounding them are needed to explain in more detail. It’s also important to recognize the Auditor’s opinion letter, balance sheet, operating statement, statement of changes in net assets, and statement of cash flows and footnotes of their involvement in the process. Relevant accounting articles are a useful supplement to financial statements and how they enhance concepts in the financial statement. The meaningful uses of financial statements for health care organizations are the epitome of current and future success of financial health.

According to FASB webpage, revenue is a crucial number to users of financial statements in assessing a company’s performance and prospects. However, revenue recognition requirements in U.S. GAAP differ from those in IFRS, and both sets of requirements are considered to be in need of improvements. Accordingly, the FASB and the IASB initiated a joint project to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS that would 1) remove inconsistencies and weaknesses in existing revenue recognition standards and practices; 2) provide a more robust framework for addressing revenue recognition issues; 3) improve comparability of revenue recognition practices across

A general purpose financial report is a wide-ranging report that illustrates the entire economic data that is relevant to an industry. This is made to meet the whole desires of the readers, instead those of a particular group of readers, like investors, shareholders, business executives or financial plotters. The name, general purpose financial report, signifies the report is a wide-ranging surveillance of the company's budgets (Peter et al 2010).

This paper relates to finance and accounting. The main objective is to assess and examine financial statement of the chosen company. Amazon Inc. was chosen as the target company. It is a retail giant with more than $350 billion of market capitalisation. The company is headquartered in Seattle, Washington. Its main business sector is internet retail. Since Amazon is the US company and its stocks are listed on Nasdaq, the company has to file regularly reports with the SEC. The reports can be found on the website of the regulator at Error! Hyperlink reference not valid.. One of those reports is covered by this paper. It is an annual report which called the 10-K. It contains financial information and key statements. Therefore, it is possible to derive data for the company’s assets, liabilities, equity and its financial performance.

Financial statements are the core component of financial reporting and contain sections or elements outlined in FASB SFAC Concept No. 6. In order for data or information to be contained within the financial statements it must go through a formal process of recognition. An element that is included in the financial statements will be qualitative and quantitative and must meet the formal definition of either an asset or liability. A change in equity must meet the definition of a revenue, expense, gain, or loss to be recognized as a component of comprehensive income. (Concepts Statement No.4, p.26) The element must also contain aspects of relevance and reliability, as covered in Concept No. 2, in addition to measurability. Measurability states that an element must be counted or identified as a monetary unit, in most cases a specific currency. Once the currency has been established, measurability must account for specific attributes to be included in the asset and liabilities sections of the financial statements.