acc_561_week_3_assessed_dq___aunt_...

Jun 2nd, 2015
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acc_561_week_3_assessed_dq___aunt_...

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Running head: FINANCIAL STATEMENT ANALYSISFinancial Statement AnalysisYOUR NAME(S)ACC/561DATEPROFESSORS NAME Financial Statement AnalysisTo better understand the profitability of a company an analysis of the financial statements will be conducted. The information is sometimes used to compare performance of, similar or different, companies or industries. The financial statements of three companies in the manufacturing, service, and retail sales sectors will be analyzed. Managers, creditors, and stockholders give consideration to the information provided in the following: the affect on presentations as a result of the differences in the industries and different measurement conventions; and the use of the cash basis of accounting in contrast to the accrual basis. Decision-making is influenced by the information affecting financial activities. Measurement ConventionsThere are a wide range of differences between FASB and IASB measurement conventions of standards. Certain standards may have fundamentally different bases for recognition of certain financial events. The FASB and IASB may have different ways of standardizing revenue recognition. As a result of these differences in standards between the FASB and IASB when comparing two different set of financials for companies that are in the same industry may result in distorted analysis of the data. The major problem with trying to compare two different financial statements for companies that are in the same

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