Nature vs Nuture

This annual report consists of two parts: management’s discussion and analysis (this section) and the basic financial statements. The basic financial statements include a series of financial statements. The Statement of Net Assets and the Statement of Activities (on pages and ) provide information about the activities of the [type of entity] as a whole and present a longer-term view of the [type of entity]’s

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

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

Item 7.|  |MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS|  | |25|  |

C. developed for each item in the financial statements and derived from the categories of management’s financial statement assertions.

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.

|Nongraded Activities and|Watch the Financial Reporting for Business: Introduction to Accounting Reports and |Day 6 | |

| |financial statements related to cash and cash equivalents, receivables, and inventories. | | |

Income statements and balance sheets were reviewed to summarize the following key points that could

The Management Discussion and Analysis section of the company’s annual report is a report from management to shareholders that accompanies the firm’s financial statements. It explains the period’s financial results and enables management to discuss topics that may not be apparent in the financial statements in the annual report.[1] The MD&A section also emphasize on other parts of the company and explain what accounting methods they use.

Current and historical Financial Statements (Income Statement (I/S), Balance Sheet (B/S) and Statement of Cash Flows) from the three most current years for the firm

The financial statements are showing that the firm is fiscally sound. This helps executives to capitalize on new opportunities in order to increase the company's earnings. For example, three important areas which are showing how the firm is enhancing their profits margins are in the sales, net earnings and dividends per common shareholder from 2010 to 2012. ("Built to Deliver," 2012)

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).

With any financial statement it is important to note, when comparing and contrasting differences between the financial highlights page which is

Accounting is the art of measuring and communicating financial information. To maintain uniformity and consistency in preparing and maintaining books of accounts, certain rules or principles have been evolved. These rules or principles are classified as concepts and conventions. One of the important concept in accounting is “Measurement” (Mattessich, 1977)