Financial Statements Travis Atkins University Of Phoenix Principles of Accounting I ACC/290 Jim Hill February 25, 2014 Financial Statements In the corporate world there are many different things that must take place on a day to day occurrence for the company to maintain to operate at a successful level; one of the main things that must happen is the different type of financial reports that must be made. In any company there will be the at least four main reports a balance sheet, an income
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chief lending money financial officers, other e.g., suppliers, bankers employees Government and regulatory bodies e.g., ATO, ASIC 11 GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) In order to measure, process and communicate financial information, accountants follow rules, principles and standards. These rules, principles and standards are set by International Accounting Standards Board (IASB) Australian Accounting Standards Board (AASB) Financial Reporting Council (FRC)
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staff members. The not-for-profit health organization services seven states with total assets exceeding four billion. Resource Optimization and Innovation (ROi) is one of many divisions Mercy owns. Responsible for the supply chain side of Mercy, ROi employs more than 1400 members and delivers pharmaceutical and medical supplies. This branch of Mercy is responsible for its own accounting and financial reporting because although it is owned by a not-for-profit company, ROi is a for-profit company. The
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at: nerdypupil@gmail.com ACC 290 WEEK 1 DISCUSSION QUESTION 1 ACC 290 Week One – DQ #1 What are the four basic financial statements? What is the primary purpose of each of the four basic financial statements? In your opinion, which financial statement is the most important? Explain why. How would the financial statements be useful to managers and employees? How would the financial statements be useful to investors and creditors? Home Work Hour aims to provide quality study notes and tutorials
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Comprehensive Annual Financial Report Briefing: Each year the Los Angeles County Office of Education issues a Comprehensive Annual Financial Report (CAFR). The most recent report as the 2012 that was created by Alexander Cherniss, Ed.D., Chief Business Officer, fiscal year ending June 30, 2012. Presently no boundary changes during the fiscal year. The purpose of this paper is to provide an overview of government accounting and reporting. Governmental Accounting and Reporting Budgeting and
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Financial Statements Paper Fantasia Friend ACC/280 April 27, 2011 University Of Phoenix Accounting is the technique through which a person creates a report of business dealings and makes records regarding the fiscal infrastructure of the organization. Three key activities of accounting, determining, documenting, and communicating economic activities, assist bestow the health of this company to external and internal people. The main goal is to determine and document activities which have
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[pic] John Sperling School of Business Course Design Guide ACC/280 Principles of Accounting Copyright Copyright © 2010, 2009, 2008 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries
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DO ACCOUNTANTS NEED TO CONSIDER THE ECONOMIC CONSEQUENCES OF FINANCIAL STATEMENTS? Table of Contents Introduction……………………………………………………………………...................1 Accountants and the Statements They Produce…………………………………………...1 Users of Financial Statements……………………………………………………………..2 A Key Starting Point for Users……………………………………………………………4 Economic Consequences through Adopting New Accounting Standards…………………6 Accounting Regulation and Its Purpose……………………………………………………7 Conclusion…………………………………………………………………………………8
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requires searching accounting standards and financial statements. In your future careers in public accounting or in financial reporting, you will encounter financial accounting problems for which there may not be a clear-cut accounting treatment. Instead, you will need to conduct research to arrive at an appropriate answer. In Case 1, I am providing you with exposure to some of the resources available for you to conduct research, download financial statements, and increase your general knowledge about
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top causes for financial statement restatements. In addition, revenue recognition is an area commonly questioned by the Securities and Exchange Commission (SEC) staff in their review of public filings and resultant comment letter process. Furthermore, revenue recognition is often prey to financial fraud. Coverage of revenue recognition in intermediate accounting courses is typically limited to learning and applying the criteria for revenue recognition outlined in the Financial Accounting Standards
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