In depth analysis of Financial Statements BP

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.

Team Leaders are most likely managers, directors, executives and the company owners. The responsibility of the Team Leaders are:

Two traditional approaches to fund programs are grants and donations. Grant funding is typically the largest revenue source for a human service organization. Vast arrays of different grants are available for funding purposes. The XYZ Corporation can utilize these funds from government private foundations. The second traditional fundraising method to fund programs is donations. Building a relationship with the community and having a confident CEO that will reach out for donations can impact the amount of donations your organization receives annually. The XYZ Corporation has a large clientele and therefore should be able to gain recognition within the community and gain donations.

It is easy to forget that pouring money into a problem will not fix it unless revenue flows continue or are increased and expenses are controlled. Some of the easiest computations can be made with information retrieved from balance sheets and income statements provided by accountants. Ratios such as the current ratio, long-term solvency ratio, contribution ratio, programs and expense ratio, general and management expense ratio, fund-raising and expense ratio, and revenue and expense ratio can provide a picture of where a company stands now compared to where it was in past years and what may need to be done in the future.

External users (shareholders, lenders, directors, customers, suppliers, regulators, lawyers, brokers, and the press) rely on financial statement analysis to make decisions in pursuing their own goals.

12. The controller of a corporation generally reports directly to the: A. board of directors. B. chairman of the board. C. chief executive officer. D. president. E. vice president of finance. Refer to section 1.1

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

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

• Management: Is the company's management competent? Are they people with integrity, good reputations and diligence? Do they publish financial reports regularly and on time? Do they have open communication with their shareholders? The CEO (Chief Executive Officer) plays a key role in the management of a company. Although this must be a consideration, it does not mean that a CEO with a magnificent record with one company will automatically achieve the same proficiency with another.

The interpersonal role is categorised in few ways one is the CEO is task with running organisation, two motivations is important to challenge the staff to past their comfort zone and achieve a higher performance (Gloeckner, Lynham and Bond, 2011). The Decisional role is the important decision needs to be quickly and efferently so it equally important that the CEO can initiate change while also dealing with threats and internal and external conflict that occurs within the organisation (Gloeckner, Lynham and Bond, 2011). As the key head of MacDonald’s Andrew Gregory is responsible for allocating appropriate resource to part of the organisation chain. He is task with solving issue that occur within the operation of the company (Gloeckner, Lynham and Bond, 2011). The most important role that CEO Andrew Gregory has is the planning business plan that will increases the chance of the success of the company. The role is categorised in three ways coordination the way that CEO is planning is in line with organisation business plan and goal of the company. Planning is a characteristic of organisation having short term and long-term plans for the operation of a company (Gloeckner, Lynham and Bond,

Chief Operating Officer available Bi-Weekly for meeting with Production Operations Manager and Chief Financial Officer, and as necessary. Reports directly to the CEO.

The company should hire it’s own internal auditor’s to ensure that the staff understand the company’s accounting procedures. This also helps the external auditor as it give the external auditor another viewpoint when assessing fraud risks. The internal auditors are apart of those charged with governance and that helps take the pressure off of the external auditor if a fraud should be discovered.

3. Which of the following measures of accounting income is typically reported in an income statement?

External audit is an independent body that works outside the company, which is auditing. They are appointed by the company shareholders and focused on the financial accounts of the organization and its risks. The main responsibility of external audit is carrying out the annual statutory audit of the financial statements and making a conclusion whether financial positions of the company gives a true and fair view. In addition, external auditors often examine and evaluate internal controls, which controls risks of financial accounts to check effectiveness of their work.

Statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP), which refers to a set of rules, standards, and practices. They are used throughout the accounting industry to prepare and standardize financial statements that are issued and help investors and creditors compare companies within the same industry. Companies are expected to follow generally accepted accounting principles when they report their financial information. GAAP affects the measurement of economic activities and the disclosure of information about activities. It also affects the preparation and summarization of economic information, and the record keeping of measurements at average intervals.