December 15th, 2014
Media Summary: Assessment of Financial Performance Video
The Assessment of Financial Performance Video reviews how to assess the financial performance and “health”, or well-being if you will, of a company and how there are numerous ratios that provide various different indicators as to where the company is excelling in and what areas the company needs to improve in. Accountants and Financial Advisors analyze the different financial statements (balance sheets, income statements, cash flow statements, and statements of shareholders’ equity) from three areas: profitability, liquidity, and efficiency. The game show theme was a great way to interact where and how he learned the things he was answering. This video reminded me of slum dog millionaire, where the main character would go back in time and remember how he learned each answer to each different question. Balancing the books is an essential part of business. Accounting methods help businesses collect record and analyze financial data. His supervisor Dianne teaches him how to balance the books and how to evaluate business performance using financial records. Areas covered include accounting information and tools, the balance sheet, calculating profit and loss, cash control, and assessing financial performance. With Dianne's help, Calvin is poised to make a million. Many software programs are available now to organize and analyze the information or date much easier and quicker. Many software programs even do charts and graphs for the information to make the presentations more convenient. Assets = Liabilities + Owner’s Equity
This was also talked about in the shorter video that was 2nd of the list of videos, Financial Statements, to watch this week. This video also focused on why it was so important to know and understand the equation and what each part of it represents. In conclusion I found the videos very...
References: Films Media Group (2009). Assessment of Financial Performance (06:23) From Title: Balancing
the Books: Understanding Financial Reporting.
Films Media Group (2002). Financial Statements (01:41) From Title: Introductions and
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