References: 3) Kimmel‚ P.D.‚ Weygandt‚ J.J.‚ & Kieso‚ D.E. (2007). Financial Accounting: Tools for business decision making Reuters. (2007). Hershey Ord Shs: Key Ratios. Retrieved October 8‚ 2007‚ from 5) The Hershey Company 6) The Hershey Company. 2003 Annual Report Management Discussion and Analysis:
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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. According to Kimmel‚ Weygandt‚ and Kieso (2009)‚ “Assets‚ liabilities‚ expenses‚ and revenues are of interest to users of accounting information. This information is arranged in the format of four different financial statements‚ which form the backbone of financial accounting”. Types of
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Identify sources of information for a statement of cash flows. Discuss special problems in preparing a statement of cash flows. Explain the use of a work sheet in preparing a statement of cash flows. Copyright © 2010 John Wiley & Sons‚ Inc. Kieso‚ Intermediate Accounting‚ 13/e Instructor’s Manual (For Instructor Use Only) 23-1 CHAPTER REVIEW 1. Corporate investors and potential investors seek information about the financial position‚ results of operations‚ and cash flow. The required
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Cash Flow University of Phoenix Cash Flow “The statement of cash flows reports the cash receipts‚ cash payments‚ and net change in cash resulting from operating‚ investing‚ and financing activities during a period” (Weygandt‚ Kimmel‚ & Kieso‚ 2010‚ p. 614). Companies are required to prepare a statement of cash flow because it contains important information about the company that deems useful for external sources‚ such as investors‚ to make educated decisions about a company. The information
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ANSWERS TO QUESTIONS 1. Examples are: (a) Payment of an accounts payable. (b) Collection of an accounts receivable from a customer. (c) Transfer of an accounts payable to a note payable. 2. Transactions (a)‚ (b)‚ (d) are considered business transactions and are recorded in the accounting records because a change in assets‚ liabilities‚ or owners’/stockholders’ equity has been effected as a result of a transfer of values from one party to another. Transactions (c) and (e) are not business
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and the supplementary information. Although these are the ones directly affected by the FASB‚ for a company to participate in full disclosure the company should also include other means of financial reporting and any other pertinent information. (Kieso‚ Weygandt‚ & Warfield‚ 2012). Interim Reporting Each business can use a different method of financial reporting so it is important ethically to report anything and everything that the “informed reader” will need to make a fair
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owner(s) in dividends. The statement of cash flows shows where the organization received cash during the period and how that cash was used. It also shows whether there was a net increase or decrease in cash during the period (Kimmel‚ Weygandt‚ & Kieso‚ 2009). Importance to Internal Users Financial statements are extremely useful to internal users such as managers and employees. Managers use the financial statements to assist them in making important operational decisions and as part of their
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2‚ 11 13‚ 14‚ 15‚ 16 6. Costs subsequent to acquisition. 18‚ 19 13 21‚ 22‚ 23 7. Alternative valuations. 22 8. Disposition of assets. 23 Copyright © 2013 John Wiley & Sons‚ Inc. 1 Exercises 1‚ 2‚ 3‚ 5 1‚ 5‚ 6 2 1 3 14‚ 15 24‚ 25 Kieso‚ Intermediate Accounting‚ 15/e‚ Solutions Manual 4 1 (For Instructor Use Only) 10-1 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Questions Brief Exercises Concepts for Analysis Exercises Problems 1‚ 2‚ 3‚ 4
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& Kieso‚ 2009). Income statement lists the company’s revenues followed by its expenses‚ which results in net income (or net loss) by deducting expenses from revenues. At the end of each earning period‚ a successful company must decide if they are going to pay out a dividend to their investors‚ which is then depicted on the retained earnings statement. “The retained earnings statement shows the amounts and causes of changes in retained earnings during the period” (Kimmel‚ Weygandt‚ & Kieso‚ 2009)
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Garrison 14e Practice Exam – Chapter 1 Print these pages. Answer each of the following questions‚ explaining your answers or showing your work‚ and then compare your solutions to those provided at the end of the practice exam. 1. Match each of the following terms with its definition. Business process Constraint Enterprise risk management Lean production Value chain a. __ Business process _ A series of steps that are followed in order to carry out some task in a business. b.
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