Statement Of Purpose Essay

Describe the three products of accounting and bookkeeping procedures that are b. Three important financial statements are used in accounting. They are the income statement, the cash flow statement, and the balance sheet (Siegel & Yacht, 2009, p. 42). Each financial statement has its advantages and disadvantages. Each one is unique and presents different features, however, they are all useful in financial planning, and they build on each other…

The purpose of a rhetorical analysis is to define how the author writes rather than what they actually wrote. We are trying to know how the writer written, and not trying to summary a story or an article. Rhetorical analysis requires us to apply our thinking and reading skill instead of trying to understand the article. I’m majoring in accounting, and there is an article that I’m interesting “The Spirit of Accounting” by Paul B. w. Miller and Paul R. Bahnson. The authors are using description,…

between GAAP/FASB and personal financial statements? Peavler, R. (2017). IFRS and FASB - What are Financial Reporting Standards? Retrieved September 25, 2017, from http://bizfinance.about.com/od/accountingandcash/a/IFRS-and-FASB-what-are-financial-reporting-standards.html) Both GAAP and FASB have rules and regulations that need to be followed in order to make sure everything is properly reported. GAAP deals with the income statement, balance sheet and statement of cash flows. FASB is the one…

ten fiscal years (22,249,041/13,644,284)-1=63%. The increase in sales tax revenue over the last ten fiscal years was 15% (10,153,006/8,849,187)-1=15%. The revenue that North Charleston generates from traffic fines are reported in government-wide statements as associated with program revenues under public safety. The total fund balance in the general fund is $27,167,523 and of that $237,272 is nonspendable because it consists of prepaid items and inventory, $827,268 is restricted for other…

Financial Statement Fraud Company financial statements provides information that is utilized by investors to evaluate the conduct of managers and to compose economic arrangements (Chinniah, 2015, p. 1). The consumers of the financial statement may consider the financial information received as dependable and appropriate for its function (p. 1). Chinniah indicates accounting standards and regulations have been put in place to try to certify the financial information provided is consistent with…

be numbered in a logical way and follow any standards for its specific industry (NetMBA, n.d.). Accounts will vary according to the organization. Many organizations may now use accounting software to aggregate information into their financial statement (Accounting Tools, n.d.). The chart of accounts is important because an organized list of accounts data lays the foundation for keeping track of any transactions going in and out of the organization and provides the status of the accounts to…

obtain profit when the total revenue exceeded the total of expenses. What is a revenue? Revenue is an amount that the owner earned during the business period. For example, when the owner rents out one of his or her shoplot to others for business purposes, the owner will receive rental fee from them as a revenue which means profit. This means that the owner will obtain and earn income from them who pays the rental fee . In contrast, expenses are costs that the owner have spent for his or her…

Financial Accounting Standards Board (FASB) created the Statement of Financial Accounting Standards (SFAS) 117, whose main purpose was to make financial statements from nonprofit organizations readable and usable by stakeholders. Furthermore,…

vision statement, which plays three critical roles. That is, they communicate the purpose of the firm to the stakeholders, outline and inform strategies development, and develop the measurable objectives and goals. In most cases, the future of a company is outlined in the vision statement; therefore, if an individual wants to know the going concern of a particular business, analyzing its vision can be a successful task. Thus, the paper describes one of the companies and its vision statement…

financial statements which we have audited, consists of the consolidated balance sheets as at December 31, 2015, and changes in total equity and cash flows for the years then ended Management’s Responsibility for the Consolidated Financial Statements At Creamy Chill, it is the responsibility of the Management team to prepare a fair consolidated financial statement. According to the International Financial Reporting Standards, it is important that the consolidated financial statement of a…