PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN: 9781337117005
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
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Chapter 2, Problem 4LO
Summary Introduction
To develop: The system of good record keeping and ratios to determine the personal financial statements.
Financial statements are income and expense statement, balance sheet and statement of cash flows. These statements are used as a planning tool to monitor and develop the financial plans.
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Chapter 2 Solutions
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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- Examine the economic environments influence on personal financial planning.arrow_forwardIdentify at least two different ratios from the standpoint of an investor or creditor in determining the financial health of an organization. Describe how the measure is calculated and the reason for selecting the two ratios that you chose.arrow_forwardStan is auditing First Financial Services and would like to use financial ratios to test the ability of First Financial Services to meet its current obligations. Identify two ratios that would help Stan in this task. Indicate how each ratio is calculated and what a high ratio would signify to Stan.arrow_forward
- What is the purpose of looking at financial ratios and other data as a financial analyst? What other ways can you do data analysis?arrow_forwardWhere We Get the Most Up-to-Date Financial Information?arrow_forwardThe auditor considers materiality from the point of ___________ a. Overall financial information and individual account balance b. Overall financial information c. Past experiences d. individual account balancearrow_forward
- Who among the internal users need financial information the most?arrow_forwardGAAP provides rules for entities to follow when preparing financial statements which assist external users with: A.analysing owner's personal transactions. B.interpreting bank statements C.making comparisons between an entity’s budgeted and actual results. D.making comparisons between the financial information of different entities.arrow_forwardSuggest one or two methods that could be used to organize and quickly access personal financial documents and records.arrow_forward
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