Explain how the financial statements works

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timer Asked: May 21st, 2014

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



Unformatted Attachment Preview

1,750–2,000 words (not including title and reference pages) Details: As EEC's corporate business financial analyst, you will be required to provide the EEC board of directors and executive management team with essential financial information on the management of the EEC enterprise. In a memo to the board of directors, discuss the information found in each of the following financial statements and how that information is used for the planning, controlling, and decision making of the company. Also, discuss what some of the reports and ratios are that the following financial statements can help you develop. (As you analyze the statements listed below, keep in mind that these statements are the foundation of financial accounting and are developed from transactions that happened during the time period of the statement. This information is used by external users as well as internal users. Managerial accounting focuses on the use from the internal user perspective. The information from these statements is used to analyze and establish budgets, forecast, variance reports, and ratios, among other things, with the key being that they are only used internally). • • • • Balance sheet Income statement Statement of cash flows Statement of stockholders’ equity ASSIGNMENT MUST BE IN THIS FORMAT 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. II. III. Part 1 – Give an overview of what is going to be discussed in the memo 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 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. V. Conclusion References 1,750–2,000 words (not including title and reference pages) Details: As EEC's corporate business financial analyst, you will be required to provide the EEC board of directors and executive management team with essential financial information on the management of the EEC enterprise. In a memo to the board of directors, discuss the information found in each of the following financial statements and how that information is used for the planning, controlling, and decision making of the company. Also, discuss what some of the reports and ratios are that the following financial statements can help you develop. (As you analyze the statements listed below, keep in mind that these statements are the foundation of financial accounting and are developed from transactions that happened during the time period of the statement. This information is used by external users as well as internal users. Managerial accounting focuses on the use from the internal user perspective. The information from these statements is used to analyze and establish budgets, forecast, variance reports, and ratios, among other things, with the key being that they are only used internally). • • • • Balance sheet Income statement Statement of cash flows Statement of stockholders’ equity ASSIGNMENT MUST BE IN THIS FORMAT 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. II. III. Part 1 – Give an overview of what is going to be discussed in the memo 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 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. V. Conclusion References
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