Financial Statements December 18‚ 2012 Financial Statements There are four main types of financial statements in the account world. Each statement has a difference focus and importance. Managers‚ creditors‚ and investors to learn about a company’s financial status and to make decisions about the company use the financial statements. Each financial statement type will briefly be defined and explained in this paper. Also‚ why these statements are of interest to managers‚ creditors‚ and investors
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costs and make pricing decisions using relevant informations. And than this report will assess the viability of a project using investment appraisal techniques and discuss the main financial statements. Compare appropriate formats of financial statements for different types of business. Interpret financial statements using appropriate ratios and comparisons‚ both internal and external. 3.1 analyse budgets and make appropriates decisions According to this data‚ Kaitai HK(GuangZhou) monthly budget
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1. If a CPA recklessly departs from the standards of due care when conducting an audit‚ she or he will be liable to unknown third parties based on a. strict liability c. negligence b. gross negligence d. breach of contract 2. Under the common law‚ which of the following statements most accurately reflects the liability of a CPA who fraudulently gives an opinion on an audit of a client’s financial statements? c. The CPA is liable only to third parties in privity of contract
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Financial Statements XACC/290 January 12‚ 2014 Melissa Drayton Financial Statements There are four basic financial statements: balance sheet‚ income statement‚ retained earnings statement‚ and statement of cash flows. These financial statements would include an overview of the assets‚ liabilities‚ expenses‚ and revenues of the business. Financial statements are useful not only to internal user; such as managers and employees‚ but also to external users; such as investors and creditors to
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Becoming a CPA Accounting is the study of how businesses track their income. Identify business goals and activities; describe the role of accounting in making informed decisions‚ the uses and organization of financial performance over an accounting cycle. Accountants engage in a wide variety of activities besides preparing financial statements. They spend a lot of time learning how to make the business profitable. Therefore‚ an accountant is perfectly positioned to become a Chief Financial Officer
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are two of the four key qualitative characteristics of financial accounting information. The others being understandability and comparability. Relevance requires that the financial accounting information should be such that the users need it and it is expected to affect their decisions. Reliability requires that the information should be accurate and true and fair. Relevance and reliability are both critical for the quality of the financial information‚ but both are related such that an emphasis
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Financial Statements Financial statements are records of relative financial information of organizations that are highly valuable to both internal and external users of that organization. The following four basic financial statements constitute the foundation of accounting: * Balance sheet * Income statement * Retained earnings statement * Statement of cash flows Purpose of the Financial Statements The balance sheet shows a clear picture of the organization’s financial
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Financial Statements Robert Greene Phoenix University Principles of Accounting I 290 Dr. Zeneo Williams June 18‚ 2013 Financial Statements To understand finances‚ the ability to decipher the data available must be attained. One of the tools used to do this is through financial statements. There are four prevalent statements used to achieve this. They are the balance sheet‚ income statement‚ statement of retained earnings‚ and statement of cash flows. These statements are
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Uniform CPA Examination Examination Content Specifications Effective Upon the Launch of the Computer-based Uniform CPA Examination Prepared by the Board of Examiners of the American Institute of Certified Public Accountants Questions pertaining to this decision paper should be directed to Gregory Johnson‚ Director‚ CPA Examination‚ at (201) 938-3376 or gjohnson@aicpa.org. June 14‚ 2002 Uniform CPA Examination Examination Content Specifications The content of the Uniform CPA Examination
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Financial Statement Companies use several tools such as a balance sheet to make sound business decisions. A balance sheet is a quantitative summary of a company ’s financial condition at a specific point in time‚ including assets‚ liabilities and net worth. The first part of a balance sheet shows all the productive assets a company owns‚ and the second part shows all the financing methods (such as liabilities and shareholders ’ equity) Also‚ called statement of condition.
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