The financial statements of any organization offer a large amount of information that is beneficial to the public, as well as a manager or administrator. A manager must be able to tailor the financial system with the purpose of obtaining essential data that assists in the process of identifying problem areas to be able to adjust policies and practices to correct the issue (Broyles, Khaliq, & Mattachione, 2009). By integrating existing financial and clinical reporting systems, administrators can…
5.0 Evaluation of Ford Motor Company’s financial statements adherence to GAAP 5.1 Going Concern Concept The going concern concept is the assumption that an entity prepares financial statement on a going concern under the assumption that the entity will remain in business for the foreseeable future. The entity also will not be forced to liquidate its asset in near future (Or & Raymaker, 2014). Generally, the term foreseeable future indicates a period of 12 months. In the case that an entity…
If a company is a governmental entity, the reporting method changes dramatically. The purpose of a government entity is to provide financial statements to taxpayers, citizens, elected representatives, bondholders, and financial community. Most of government entity revenues comes from taxpayers, donations, and public service. Compared to a for-profit company, the revenues is generated by sales, services, and investments. The GASB is responsible for setting standards for governmental entity and…
Introduction Financial management requires the effective exploration of financial statements, the information relayed provides valuable insights into the health of a company (Lohrey n.d.). This report has conducted a performance evaluation and stock valuation for the JB Hi-Fi Group Pty Ltd (JB Hi-Fi). Australia’s largest home entertainment retailer, JB Hi-Fi sells home consumer products across 187 stores in Australia and New Zealand. By investigating the performance and stocks of a company,…
Financial statements such as income statements, cash flow statements, and balance sheets are reports which companies use to report financial information to the public and stock holders (Pride, Hughes and Kapoor, 2015). These financial documents enable the public and prospective investors informative on the financial viability of the company. Additionally, these statements assist potential investors in knowing how the senior executives are managing the company’s resources. Unfortunately for…
issues to its shareholders, financiers and regulatory firms at the end of a financial year. Public companies mostly provide it to describe their operations and the financial states. The first part of an annual report has combinations of graphics, pictures and accompanying narratives the are in line with what the company has achieved in the previous year. Typically, the annual report has income statements, cash flow statements, balance sheet and some other accompanying details. The details vary…
My choice of the company to base on in my financial statement analysis is the Walt Disney Company. This is a company that mainly deals with the entertainment industry by animation.Its aim are to become, in the nearest possible future one the leading providers of entertainment and information to their various audiences. This is done by their various efforts to invest in creativity so that they are able to pull more audiences towards their works of art. Their commitment to creativity and…
relevant information regarding a company’s financial position continues to escalate and business analysis becomes more complex, the requirement for organizations to produce both timely and accurate data is essential (Subramanyam, 2014). More specifically, analysts, investors, and creditors alike rely on figures from statements such as balance sheets, income statements, and statement of cash flows in an attempt to conduct both accounting and financial analysis (Subramanyam, 2014). Additionally,…
Entrepreneurship The five concepts of entrepreneurship I learned that I didn’t know before were feasibility analysis, promotion, financial statements, sole proprietorships, and Market penetration strategy. Feasibility analysis is important because it is an evaluation for a products/service overall appeal. I noticed that it’s a great tool to know if a business is usable or not. I will use a feasibility analysis in the future when I decide to create my own business. This tool will tell and…
The concept within Exam #1 of Accounting 203 that I seemed to struggle with the most was the interrelation of each financial statement. I was conflicted in the task of defining which specific account and/or topic appeared on each financial statement. In addition to this, I also seemed to struggle in the condensed definitions of the financial statements. However, I did feel that I performed adequately in the section of the exam that dealt with the concept of expenses and losses and gave a fair…