CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Financial Statement...? DOCUMENT THAT A BUSINESS MIGHT USE TO ACCOUNT FOR LOSSES, DAMAGED GOODS, AND STOLEN INVENTORY & Section Number of ’s Name: Date: It might be possible that an organization goes for losses, have damaged goods and faces stolen of inventory. It requires a strong internal control system to minimize and control. If the organization faces losses, damaged goods and stolen inventory some accounting steps to be followed as, 1. Losses: if the organizations goes for losses it will be write off in the income statement after valuation and should contact to the insurance company for insurance recovery. 2. Damaged Goods: if the organization has damaged goods, these goods will be evaluated and scrap should be sold to recover some amount...
2 Pages(500 words)Research Paper
IFRS Illustrated Financial Statement...also requires disclosure of segmental liabilities while the US GAAP do not call for such recognition. Under IFRS deferred tax liabilities and assets are always classified under non-current equivalent while under US GAAP the classification process is usually split between non-current and current components with the basis being the underlying liability’s or asset’s classification. (iasplus.com, 2008) The differences stated can be noted in the reported statements as lifted from the pwc.com website under the following link: https://pwcinform.pwc.com/inform2/show?action=informContent&id=1148143710136176 Merits of IFRS to End-Users of Financial Statements IFRSs’ application to...
4 Pages(1000 words)Essay
Application of Financial Statement...?Introduction This paper focuses on the practical aspects of financial ments. It is written in three parts. The first part examines the components of the income statement and how it can be applied to everyday life in a business. The second part discusses the benefits that a business manager can get if s/he understands the income statement. The final part of this essay evaluates the importance of the balance sheet and income statement to my career as an investment adviser and my future career of banker. The essay will utilize some secondary sources which will be referred to. This will be aided by critical analysis an explanations of components and importance of...
9 Pages(2250 words)Essay
Application of Financial Statement...? Application of Financial ment How the Use of Income ment May Be Applied to Your Everyday Life An income ment or aprofit and loss statement gives a summary of the company’s profit and loss over a given period, either a month or a year. It records the business revenues and the operating expenses of a business for a given duration. It is among the most basic records needed by bankers, investors and vendors before making crucial decisions, and can also be applied in real life. All people use accounting statements in their daily life. According to Smith (2009), every time people balance their checkbooks to their bank statement, an aspect of accounting is applied. Similarly,...
3 Pages(750 words)Term Paper
The usage of financial accounting information..., provides information that enables users to evaluate the changes in net assets of an enterprise, its financial structure and its ability to affect the amounts and timing of cash flows in order to adapt to changing circumstances.
Another use of financial accounting information is to solicit investments from potential investors. Potential investors require information on various matters, including solvency, financial strength, earning capability, and the ability of the management to decide whether or not to invest in the organization. The financial statements and the various financial ratios derived from the...
4 Pages(1000 words)Essay
Financial Statement...for 2005-06
This relatively low ratio is indicative of low levels of liquidity.
Inventory turnover ratio
Inventory turn over= cost of goods sold/inventory
As BA's is a service industry, there is not much inventory.
Increase in Current assets as on 31.3.2006 by 751 million from last year was due to increase in cash and non-trade debtors.
Long term financial structure
This deals with long-term solvency measures. Some of the ratios are Total Debt Ratio, Debt Equity Ratio and Equity Multiplier.
Total debt ratio
considers all debts as against all assets.
Total debt ratio = (Total assets-Total equity)/Total assets
= (12174-2074)/12174 =0.83 times This denotes that the group uses 83 % debt in 05-06
The...
12 Pages(3000 words)Essay
Financial statement...in discussing their rankings, promotion, and compensation.
According to the writings of Kolitz and Mcallister, (2009), the key components of financial statements comprise of the income statement and the balance sheet. An income statement is a representation of the group’s financial performance. An income statement is a finance statement measures an enterprises performance over a specific accounting period (Gibson, 2010). The income statement is divided into two parts, the operating and non-operating sections. The operating section discloses information about revenues and expenses that...
7 Pages(1750 words)Essay
Financial Statement...of the business.
Why disclosures to financial statements so important
Disclosures to financial statements are vital as lenders use a variety of them from a private initiative statement when they need to determine whether the entity ought to get a loan; distinctive financial statements basing on the new overall accepted Accounting Standards for Private Enterprises (ASPE) may possibly meet those requirements. However, as financial statements are prepared for private enterprises, they must be in a way that they maintain the confidence and trust of lenders, thus additional disclosures may be...
1 Pages(250 words)Essay
Financial statement...The following ratios are copy pasted from the Athletic Attic Financial ment. Each ratio is explained as to profitability and risks. 2012
Receivables turnover ratio
12.02312139
11.73333333
Inventory turnover ratio
4.415584416
4.537815126
Current Ratio
14.01826484
16.77857143
Debt to equity ratio
0.252192213
0.265670403
Gross profit ratio
0.346153846
0.386363636
Return on assets
0.410938208
0.419091967
Profit margin
0.130769231
0.143181818
Asset turnover
3.142468651
2.926991518
1. Receivables Turnover ratio. I believe that based on the RTR , the overall risk and profitability of Athletic Attic has improved from 2012 to 2013 because the ratio of turnover of receivables has increased. This means accounts receivables...
1 Pages(250 words)Essay
Financial Statement...Financial Reports Financial Reports Explanation The preparation of the financial statement is under International Financial Reporting Standards. The presentation of the financial statement of the company is done in accordance to standard IAS 1 (IAS 1 — Presentation of Financial Statements, 2014). Since, the business is initially started the financial statements are mainly prepared for internal user only. The projected cashed flows, revenues and sales are based on the estimated attained from the average industrial turnover. Thus, the projections are subjected to change because of any change in the external or internal factors that may influence profits, revenues and expenses of the company. The amounts for the assets are reported... in...
2 Pages(500 words)Essay
