Financial Statements XACC/290 3/21/14 Every business in America wants to be successful. One part of being successful is the way they report on their earnings and keep track of their earnings. Before you can report your yearly or quarterly earners you must keep track of them. There are four basic financial statements that every business must do in order to report their earnings correctly. They are the income statement, balance sheet, retained earnings statement and the cash flow statement. Each
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1 Recognizing Differences Tonya Johnson XACC/291 April 23, 2015 Melody Lott 2 Recognizing Differences Valuation is the process of determining the value or worth of an asset, intangible or tangible, and whether it will need to be amortized, depreciated, or depleted. Each is used for different types of assets and relates directly to the allocating of costs rationally and systematically for any business. “Depreciation is the process of allocating to expense the cost of a plant
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362 Chapter 9. Root Finding and Nonlinear Sets of Equations } a=b; fa=fb; if (fabs(d) > tol1) b += d; else b += SIGN(tol1,xm); fb=(*func)(b); Move last best guess to a. Evaluate new trial root. Sample page from NUMERICAL RECIPES IN C: THE ART OF SCIENTIFIC COMPUTING (ISBN 0-521-43108-5) Copyright (C) 1988-1992 by Cambridge University Press. Programs Copyright (C) 1988-1992 by Numerical Recipes Software. Permission is granted for internet users to make one paper copy for their own personal
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Check Point Stocks XACC/291 Preferred Stock is referred to as preferred due to owners of preferred stock have preferential treatment over the owners of common stock. When it comes to dividends and liquidation preferred stockholders receive their dividends before common stockholders receive theirs. If the corporation does not declare and pay the dividends to preferred stock, there cannot be a dividend on the common stock. In return for these preferences,
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Cost of Goods Sold XACC/290 Calculating Cost of Goods Sold There are different ways to calculate the cost of goods sold. The most used and the easiest would be the periodic method of inventory. This is where you take the beginning inventory and add the inventory purchases and then subtract the end inventory then you will get the cost of a goods sold. This is the one that make sense because you take the accounting period and then just use that to get the answer. The only reason
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Direct and Indirect Cash Flows XACC/291 August 20, 2014 Direct and Indirect Cash Flows The direct cash flow method is the method that includes a large amount of detail and organization in comparison to the indirect cash flow method. Direct cash flow statements start out with the three sections that contain cash flow which are operational activities, investments, and financing activities. The operating activities section will include receipts and payments that are related to the day to day
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Ratio, Vertical, and Horizontal Analyses Kelli Lorenc XACC/280 February 5, 2012 Kerri Gooley Ratio, Vertical, and Horizontal Analyses According to "Accounting for Management" (2011), “Financial statement analysis is defined as the process of identifying financial strengths and weaknesses of the firm by properly establishing relationship between the items of the balance sheet and the profit and loss account.” (Definition and Explanation of Financial Statement Analysis:). There are
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Khadija Edwards XACC/290 Principles of Accounting 5/ 24/2015 Instructor : KAREN EVANS 4-2A. Prepare adjusting entries, post to ledger accounts, and prepare adjusted trial balance. Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012. The trial balance at June 30 is as follows. VOGEL CONSULTING Trial Balance June 30
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XACC/290 One of the financial statements is balance sheet is used to present a point in time of what the business assets are and what its liabilities are and if there is any equity. This statement is asked from banks when you may ask for a credit line with them; they would like to see whether you can afford to pay them back. The balance sheet show the company financial condition. The income statement measures a company's financial performance over a specific accounting period. Financial performance
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Financial Statements Page Number at the Top to the Right Author Note This paper was prepared for Principles of Accounting I, XACC/290 Abstract In accounting there are four important financial documents that makes a business whole, but in order to use these documents you must understand accounting. Basic accounting is just keeping track of expenses as well as earnings. The four basic financial statements
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