Summary………………………………………………………………….3 Financial Statement Overview……………………………………………………….4 Purpose of Study……………………………………………………………………..6 Limitations of Study………………………………………………………………….6 Definition of Term/Formulas…………………………………………………………6 Management Discussion and Analysis………………………….…………………….6 Notes to Consolidated Financial Statements…….…………..……………………….11 Exploration of Balance Sheet…………….……….………………………………….15 Exploration of Income Statement………….………..……………….……………….20
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Chapter 14 Accounting and Financial Statements True / False Questions 1. (p. 425) Only large businesses use the financial information compiled by accountants. FALSE AACSB: Reflective Thinking Bloom's Taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 2. (p. 425) Accounting is the recording, measurement, and interpretation of financial information. TRUE AACSB: Reflective Thinking Bloom's Taxonomy: Knowledge Difficulty: Easy Learning Objective: 1
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resources. 8-3 Cash discounts are reductions in original cost, not income. 8-4 When an expenditure is capitalized, it is not credited to stockholders' equity. Rather, it becomes an asset with a useful life in excess of one year. Technically aAn asset is debited and generally either cash or a liability is credited. 8-5 Accumulated depreciation is not cash; if specific cash is being accumulated for the replacement of assets, such cash will be an asset specifically labeled as a "cash fund for replacement
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manual provides comprehensive practical guidance on how to prepare financial statements in accordance with IFRS. Includes hundreds of worked examples, extracts from company reports and model financial statements. IFRS 3R: Impact on earnings – the crucial Q&A for decision-makers Guide aimed at finance directors, financial controllers and deal-makers, providing background to the standard, impact on the financial statements and controls, and summary differences with US GAAP. IFRS disclosure checklist
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in the corporate world accountable for their actions. The Act increases penalties for executives who do misdeeds and imposes internal governance rules on their companies (Bawa, 2004). How does the Act hold executives accountable? The legislation requires the most senior company executives (CEO’s, CFO’s, etc.) to certify the company’s financial statements each time those reports are filed with the Security and Exchange Commission (Brigham & Ehrhardt, 2014 p 70). The impetus for passing Sarbanes-Oxley
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mobilizing our world AT&T Inc. 2013 AnnuAl RepoRT AT&T ONLINE ANNUAL REPORT Experience how we’re mobilizing our world at www.att.com/annualreport2013 TO OUR INVESTORS AT&T Inc. We’ve entered 2014 with our industry on the cusp of a dramatic expansion. And once again, our company is poised to lead. Over the past few years, AT&T has been a major driver of the global, mobile Internet revolution. We have invested and executed aggressively, and today our network is best in class, reaches
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each of the five will incorporates both qualitative and quantitative measures, that display a person's business portfolio("Five cs of," ). The Five C's Of Credit (Character) In terms of character, what must be noted is that it is the general impression that borrowers make on the prospective lender or investor (MBDA, 2009). Where by lender will then form a subjective opinion about the person and deduce whether or not
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in many important roles to create and sustain successful organizations. Managers must understand the crucial elements of financial management and the generally accepted accounting principles. They must also understand, adhere to, and enforce the general financial ethical standards. Four Elements of Financial Management Planning The first step in financial management is planning. It is the responsibility of the financial manager to first identify the goals of the company. Then it is the financial
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industries. To complete a thorough examination of your company's effectiveness, however, you need to look at more than just easily attainable numbers like sales, profits, and total assets. You must be able to read between the lines of your financial statements and make the seemingly inconsequential numbers accessible and comprehensible. This massive data overload could seem staggering. Luckily, there are many well-tested ratios out there that make the task a bit less daunting. Comparative ratio analysis
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1468-4497.2006.00196.x ABACUS PRINCIPLES ORIGINAL ARTICLE 2 42 © 2006 0001-3072Publishing, Ltd. Abacus UK VERSUS RULES-BASED ACCOUNTING ABA Accounting Foundation, Unviersity of Sydney Oxford, Blackwell GEORGE J. BENSTON, MICHAEL BROMWICH AND ALFRED WAGENHOFER Principles- Versus Rules-Based Accounting Standards: The FASB’s Standard Setting Strategy In response to criticism of rules-based accounting standards and Section 108(d) of the Sarbanes-Oxley Act of 2002, the SEC proposed principlesbased
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