Explain how the financial statements works

SoccerBoss
Category:
Accounting
Price: $5 USD

Question description

Formats assgnment 2.docx

docs.pdf

MUST BE IN THIS FORMAT

Phase 1 Task 2;

For this assignment the student is to write a memo that  discusses the information found in each of the following financial statements:  Balance sheet, Income statement, Statement of cash flows, and the Statement of stockholders’ equity.  The student is also discussing how that information is used for planning and control of the company.

Format:

I.  Part 1 –  Give an overview of what is going to be discussed in the memo

II.  Part II: Heading  - Information Found on the Financial Statements

a.  Income Statement  – Define and Explain

b.  Balance Sheet – Define and Explain

c.  Statement of Stockholders Equity - Define and Explain

d.  Statement of Cashflows - Define and Explain

III.  Part III  Heading – How Accounting Information is Used

a.  According to the text, accounting information is used for (1) planning,  (2) controlling and (3) directing and motivating.  Explain each of these terms and give an example of each.

b.  Format –

  i.  Planning

1.  Definition

2.  Example

3.  Explanation of how the financial statements  and/or the nonfinancial measures assist with this objective

  ii.  Controlling

1.  Definition

2.  Example

3.  Explanation of how the financial statements  and/or the nonfinancial measures assist with this objective

  iii.  Directing and Motivating

1.  Definition

2.  Example

3.  Explanation of how the financial statements  and/or the nonfinancial measures assist with this objective

IV.  Conclusion

V.  References



Studypool has helped 1,244,100 students
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1824 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors