preparing financial statements and reports

... Adjusting Accounts and Preparing Financial Statements Trang 2The Accounting PeriodTrang 3Accrual Basis versus Cash BasisAccrual Basis Revenues are recognized when earned and expenses are recognized ... Adjustments Trial Balance Adjusted  Trang 33Preparing Financial StatementsLet’s use FastForward’s adjusted trial balance to prepare the company’s financial statements. P  3 Trang 341 Prepare the ... 900 T o re c ord  c om p le tion of c ontrac t and  c as h c olle c tion Revenue in January 10 days @ $90 = $900 Trang 29Links to Financial StatementsA 1 Trang 30First, the initial unadjusted

Ngày tải lên: 14/10/2020, 14:07

... The IASB and financial reporting All Read through quickly to obtain an overview of this chapter Understand the differences between historical cost and current value Try Question 33 and 34 in ... partners' current and capital accounts and what goes into each • Not practising partnership questions Trang 4Study Period 22 Cash flow statements Date due: Exam Guidance Cash flow statements can ... flow statements and the advantages and disadvantages, in addition to being able to perform calculations Guidance through the Study Text These topics are covered in Chapter 20 Cash flow statements

Ngày tải lên: 06/08/2014, 10:20

... Development expenditure 60,000 95,000 Property, plant and equipment Freehold 750,000 1,230,000 Plant and machinery 320,000 370,000 Fixtures and fittings 105,000 90,000 The expenditure for the ... $64,587.50 D $72,087.50 Trang 2Study Period 27 continued 5 The following is an extract from the financial statements of Tornado Co at 31 December 19X9 Balance sheet as at 31 December 19X9 Called up ... 10% per annum On 30 June 20X8 Bill retires, taking out his capital Ben and Ted agree that Ted's salary will be discontinued and they will now share profits equally Profits for the year ended 31

Ngày tải lên: 06/08/2014, 10:20

... Reserved12-3 McGraw-Hill/Irwin Financial Statements • The Federal Financial Institutions Examination Council (FFIEC) prescribes uniform principles, standards, and report forms for depository ... – income statements are reported on report of income forms – commercial banks report contingent assets and liabilities on off- Trang 4Financial Statements• Comparative analysis of BOA and Webster ... of financial statements comparing one firm with others – the Uniform Bank Performance Report (UBPR) maintained by the FFIEC allows banks to observe competitor financial statements • Most financial

Ngày tải lên: 18/10/2015, 08:00

... international financial statements. 2 Understand who uses financial ratios, and how. 3 Use ratios to analyze a firm’s liquidity and activity. 4 Discuss the relationship between debt and financial ... used to prepare and maintain financial records and reports are known as generally accepted accounting principles (GAAP). • GAAP is authorized by the Financial Accounting Standards Board (FASB). ... (or losses). Trang 17Using Financial Ratios: Interested Parties calculating and interpreting financial ratios to assess a firm’s financial condition and performance. and the firm’s own management.

Ngày tải lên: 27/02/2018, 16:19

... fairness of the financial statements d To satisfy the need for full disclosure of all the facts relevant to a company's results and financial position ANSWER: d Trang 2499 Financial statements are ... concerning gains and losses? a Gains and losses are reported on the balance sheet in the Assets and Liabilities sections, respectively b Gains and losses are special types of revenues and expenses ... budgets b Notes to the financial statements c Selected financial data from competitor companies d Management’s statement that the auditors are responsible for the financial statements ANSWER: b

Ngày tải lên: 02/10/2019, 12:57

... of financial accounting and financial statement presentation Supporting: 5 To explain that financial statements are the product of financial accounting and that the statements represent a historical ... principal financial statements and their basic form 2 To introduce students to the terminology of financial statements 3 To present the accounting equation 4 To explain several of the concepts of financial ... limitations of financial statements 7 To illustrate that the financial statements are included in the corporation’s annual report 8 To introduce and explain several business procedures and their

Ngày tải lên: 08/11/2019, 15:10

... controls and enforcement increase the possibility of fraudulent transactions and misleading financial statements Without controls and enforcement, all accounting systems run the risk of abuse and ... total credits The trial balance also serves as a helpful internal document for preparing financial statements and other reports 9 The error should be corrected with a separate (subsequent) correcting ... equipment, building, and land b Common liability accounts: accounts payable, notes payable, and unearned revenue, wages payable, and taxes payable c Common equity accounts: common stock and dividends

Ngày tải lên: 02/12/2019, 15:24

... controls and enforcement increase the possibility of fraudulent transactions and misleading financial statements Without controls and enforcement, all accounting systems run the risk of abuse and ... total credits The trial balance also serves as a helpful internal document for preparing financial statements and other reports 9 The error should be corrected with a separate (subsequent) correcting ... equipment, building, and land b Common liability accounts: accounts payable, notes payable, and unearned revenue, wages payable, and taxes payable c Common equity accounts: common stock and dividends

Ngày tải lên: 31/01/2020, 14:11

... of financial accounting and financial statement presentation Supporting: 5 To explain that financial statements are the product of financial accounting and that the statements represent a historical ... principal financial statements and their basic form 2 To introduce students to the terminology of financial statements 3 To present the accounting equation 4 To explain several of the concepts of financial ... limitations of financial statements 7 To illustrate that the financial statements are included in the corporation’s annual report 8 To introduce and explain several business procedures and their

Ngày tải lên: 31/01/2020, 14:46

... Other types of financial statements 3 Trang 2Financial statements:  Represent the financial history of the organization – both  successes and failures  Assist in planning, budgeting and investment analysis ... Basic concepts associated with the Balance Sheet  Cash flow and cash flow statements  Financial statement generation and the accounting  equation  Other types of financial statements 2 Learning Objectives – Unit 1 ... Other types of financial statements 20 Balance Sheet  Reports the financial activities at a point in time Annual corporate reports include a Balance Sheet  showing the firm’s financial position at the end of the 

Ngày tải lên: 03/02/2020, 22:35

... financial statement and how are the financial statements related? Trang 5• The transaction becomes part of a firm’s financial statements Trang 6The Financial Statements• Balance Sheet – financial position ... from the sale of long-term debt and common stock • Cash paid to reduce long-term debt and stock outstanding Trang 28Financial Statement Relationships • All financial statements are related • Net ... Financial Trang 11Learning Objective 3the captions in the financial statements? Trang 13Examples of Assets• Accounts Receivable – amounts due from customers • Merchandise Inventory – merchandise

Ngày tải lên: 21/09/2020, 14:22

... Federal and Other Governmental Awards 18 - 21 Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements ... 2009 financial statements, and in our report dated January 20, 2010, we expressed an unqualified opinion on those financial statements We conducted our audit in accordance with auditing standards ... America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and...

Ngày tải lên: 18/06/2014, 20:20

... make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of support, revenue and expenses during ... and Equipment: The cost and related accumulated depreciation of the property and equipment as of June 30, consisted of the following: 2010 Building and improvements Equipment and furniture Land ... 2010, the date the financial statements were available for issuance, and has determined that no adjustments are necessary to the amounts reported in the accompanying financial statements nor have...

Ngày tải lên: 18/06/2014, 20:20

... 7/1/09-6/30/10 7/1/09-6/30/10 7/1/09-6/30/10 5/1/09-6/30/10 184,968 383,538 MCANDS10 MCANDS10 MCANDS10 MCANDS10 MCANDS10 MCANDS10 107-G1077JAG-10 184,968 477,385 N/A N/A N/A N/A N/A N/A N/A Total ... www.adultpdf.com 21 Consultants and Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in ... Standards This report is intended solely for the information and use of the Board of Directors, the audit committee, management, and others within the Organization and is not intended to be and...

Ngày tải lên: 18/06/2014, 20:20

... party and all the risks and rewards of the asset have been substantially transferred Cash and cash equivalents Cash and cash equivalents comprise cash on hand and at banks, demand deposits and ... consolidated financial statements For comparative purposes, the accompanying financial statements for 2011 include the consolidated statement of financial position at December 31, 2010 and the consolidated ... described in Note 3.f i) Financial assets and liabilities Financial investments All normal purchases and sales of financial assets are recognized in the statement of financial position on the...

Ngày tải lên: 18/02/2014, 05:20

... 3  Financial Statements Balance Sheets 7  Statements of Revenues, Expenses and Changes in Fund Net Assets .8  Statements of Cash Flows 9  Notes to Financial Statements ... York, as of June 30, 2010 and 2009 and the related statements of revenues, expenses and changes in fund net assets and cash flows for the years then ended These financial statements are the responsibility ... 73%) Overview of the Financial Statements This annual financial report consists of three parts: Management’s discussion and analysis (this section), basic financial statements and supplemental information...

Ngày tải lên: 19/06/2014, 21:20

... accounting and financial reporting, the IDA follows the pronouncements of the GASB In addition, IDA follows only the pronouncements of all applicable Financial Accounting Standards Board Statements and ... component unit of The City of New York) Notes to Financial Statements (continued) Background and Organization (continued) property and leases and, in certain circumstances, by guarantees from ... Stadium, LLC and a Lease Agreement and Installment Sales Agreement with Queens Ballpark Company, LLC and, accordingly, are given no accounting recognition in the accompanying financial statements...

Ngày tải lên: 19/06/2014, 21:20

... Notes to Financial Statements (continued) Bonds Payable (continued) At June 30, 2010 and June 30, 2009, $81,720,000 and $82,280,000, respectively, of the Series 2009 Bonds remained outstanding ... 2006 and certain funds and accounts held under the PILOT Bonds Indenture Payment of principal and interest on the PILOT Revenue Bonds maturing on September 1, 2009, March 1, 2010 through and including ... balance and notional amounts of derivative instruments outstanding, classified by type, and the changes in fair value of such derivative instruments for the year ended as reported in the 2010 financial...

Ngày tải lên: 19/06/2014, 21:20