Acc101

Topics: Financial statements, Balance sheet, Accountancy Pages: 2 (355 words) Published: June 18, 2013
Written Assignment 1
Chapter 1
Exercise 1.2, page 33
A.Because external financial reporting standards require companies to include pension –related obligation on their financial statements. These pension-related obligations impact labor negotiations and labor-related corporate strategies (Jan R. Williams et al. pg16). The California Public Employees Retirement System needs to analyze the financial statements to see if they could negotiate fairly with the company, they cannot do it with their eyes closed.

B.China Airlines it is interest in the financial information because if they are going to buy from this company they want to know if Boeing is accurate in gratifying warranty obligations, and to allow them to evaluate the quality of the products they would buy.

C.Henry James would be interest in financial information about the company because as a potential investor he needs to know if he is going to have a return of the amount that he has invested. Also he would expect the company paid him for the use of the money that he invested. And the only way to see if it is going to work is analyzing the company financial statements.

D.The management use financial information about the company to share with external decision makers, to planning and control decisions that the management has to deal with day by day. Also helps management achieve the goals and objectives of the company.

E.International Aerospace Machinists need to know the financial information of the company to know how the company is doing. They measure how much of a pay raise the company is able to afford in future labor negotiations.

Exercise 1.7, page 33
a)Bookkeeping
b)Financial Reporting
c)Integrity
d)Public Accounting
e)Internal Control
f)Financial Statements
g)General-Purpose
h)Management Accounting
i)Financial Accounting

Chapter 2
Exercise 2.3, page 68

Exercise 2.13, page 70

Problem 2.3A, page 72

Problem 2.5A, page 73...
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