References: • Dahmash‚ N. (1995). Financial Statements and Accounting Standards Generally Accepted.. Amman-Jordan. • Kieso‚ D. E.‚ Waygandt‚ J. J.‚ & Warfield‚ T. D. (2005). Intermediate Accounting. (11 edition). Wiley Publisher. • ACCPA‚ (2006) Journal of Accountancy‚ (Monthly Journal) September
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Appendix 2A Financial Statement Analysis Using a Return on Equity (ROE) Framework 1 Appendix 2A Financial Statement Analysis Using a Return on Equity (ROE) Framework Between 1992 and 2003 the commercial banking industry experienced a period of record profits. This was quite a change from the late 1980s and early 1990s‚ when banks were failing in record numbers. Despite record profits‚ many FIs have areas of weakness and inefficiency that need to be addressed. One way of identifying
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11/09/2012 * ACC 220 Wk 2 Financial Statement * * A balance sheet is summary of a company’s financial condition at a specific point in time‚ including assets‚ liabilities and net worth. It allows the company to know what they have been paying for or what they owe out to people. An income statement is a report that tracks a company’s revenues‚ gross profits‚ operating income‚ and net worth. All businesses need to have revenue in order to establish a good foundation to have their business up and
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Role of Audit An audit is ‘an independent examination of‚ and the subsequent expression of opinion on‚ the financial statements of an organization’ (Hussey‚ 1999‚ p. 33). The audit can be viewed as an integral part of corporate financial reporting‚ where the assurance it provides stems from the trust placed in the judgement of the auditor. The audit is designed to demonstrate ‘the completeness‚ accuracy and validity of transactions which‚ when aggregated‚ make up the financial statements’ (Power
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FIN3113—Chapter 3 Working with Financial Statements 1. BC Corporation has 1‚800‚000 shares outstanding & earned $2‚700‚000 last year on assets of $20 million & equity of $15 million. What is the PE ratio for BC if the stock is currently selling at $18 per share? • 12 • EPS=$2‚700‚000/1‚800‚000=1.5 & PE is price per earnings (18/1.5)=12 2. Which of the following are traditional financial ratio categories? • Profitability ratios‚ financial leverage ratios‚ turnover ratios
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professional auditors in Uganda Auditing is the independent examination of financial statements and the underlying books of account so as to form an opinion on whether they are prepared in all material aspects in accordance with the financial reporting framework. Such reporting framework includes International Accounting Standards (IAS)‚ the Companies Act Cap 110 (for Uganda) and any other relevant legislation. This is however carried out by a person termed as auditor. Internal Audit‚ Internal audit
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I. Executive Summary We Filipinos are “ice cream lovers”‚ in fact‚ we have a unique kind of ice cream sold at the streets called “sorbetes”. Sorbetes are often sold by vendors ringing a bell and pushing a cart with two big wheels. Young children and those young at heart‚ often get excited and happy just by hearing the bell of “Mamang Sorbetero”. In an affordable price we can buy and enjoy variety of delicious ice creams like ube‚ keso and chocolate on sugar cones or plastic cups. Now a day‚ we can
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The college should have one attendance policy for all departments. Attendance policy is strange things‚ and perhaps the strangest thing about them is how often they completely differ from one another. There is no college – wide attendance policy that students must follow‚ but many departments create their own. Some departments have strict attendance policies‚ but many times the policy is whatever the professor feels like. I think the college should adopt a more uniform attendance policy for several
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Yesterday‚ I read the article‚ which is about whether teenagers should have a part time job. In today’s society‚ more and more college students have part time job after school. In my opinion‚ I support that teenagers have part time jobs in their free time and the reasons are as follows. First‚ I think that having a part-time can train the teenagers how to earn money and let them know that it is not an easy thing to make money. Then they will use their money more and more carefully. Besides‚ I
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external auditor to be independent? Throughout the years‚ banks‚ shareholders‚ possible investors and creditors always relied on the financial statements produced by a company. Since the management of a company is producing these documents it has been assumed that the managers may act dishonestly so that their performance looks better. To monitor the company’s performance better the directors along with the shareholders employ external auditors to check all these financial statements for both
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