Description
1) Using a trade journal from your chosen industry, illuminate a recent financial problem facing a company in that industry. Look at the big picture, rather than just the shortage of funds or the overextension of credit. Why is this particular financial problem you chose typical or atypical of your industry? What kind of tools and resources will the company with the financial problem need in order to solve the problem? (Hint: solving the problem doesn’t just mean getting money from somewhere. It means finding a solution so that the problem doesn’t present itself again regularly.) Please provide the full APA reference at the bottom of your post. (Answer in 250 words)
2)The balance sheet, the income statement, and the cash flow statement each serve a different function, yet they work in harmony with one another. Give a concrete example of when each of these three statements is needed and for what purpose. Who (i.e. bankers, investors, business owners, etc.) is most interested in each of these statements and why? How can non-financial managers use the statements to better manage people and resources?(Answer in 250 words)
3) List any experiences you have had with the law. Include lawsuits to which you were a party, lawsuits your employer has been involved in that you had some connection to, and whether you have been a jury member or have some other expertise with legal issues. If you wish to keep any of your legal experiences private, please don't feel compelled to disclose them here.(Answer in 250 words)
Explanation & Answer
hey naresh,please find attached answers, kindly confirm receipt, thank you
Running head: TITLE
1
Financial Accounting
Name
Academic Institution
Author Note
Class
Professor
July 14, 2017
FINANCIAL ACCOUNTING
2
Financial Accounting
Question 1
Each case within the legal business environment should be treated separately. However, in
most cases, the attorney may end up having to classify most of the wok under one roof especially
when it comes to costing. This lead to the low allocation of risk for the law firm. For instance, a
straightforward activity in the legal business such as a will or a contract review may take up little
time but an activity such as a law suit is unpredictable as one may be unable to determine how
much time and risk is involved. Most of the time, both seemingly difficult and time-consuming
transactions are paid with the same rates and this causes an issues as the payment does not match
the complex nature of the transaction. Fixed fee basis will, therefore, cause more risk to a firm
and shod be paid higher.
This unbalanced allocatio...
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