Accounting Essays

Financial accounting is an important factor in any business; large or small. If you don’t know your numbers, you don’t know the financial health of your business. Over my twenty-three year career as a banker, I’ve always been the end user of financial information. Analyzing the statements for specific information …

The following refers to the Comparative Trial Balances, GA-7.1 through GA-7.5: Accounts Receivable, Other Receivables, Allowance for Doubtful Accounts, Bad Debt ExpenseInventories and Reserve for Inventory Obsolescence Prepaid Insurance and Insurance Expense Machinery, Equipment, and Office Furniture Accounts Payable Taxes Payable Line of Credit Sales, Sales Returns, Net Sales – …

Impact of cash flow in the Turner Technics company happened during in the first half year. Consultancy group planned to control the situation and resume the growth. In this consultancy report, aimed to identify the company’s currently cash flow problem and analyses the previous six months trade issue. And, financial …

Executive SummaryThe purpose of writing this report is to provide business valuation of Bern’s Café at ABC University and weighing in the options whether it is suitable or not to purchase the business of Mr. Bernard. The report will be divided into several sections such as the business overview, analysis …

Guillermo Furniture, a company that manufactures midgrade and high-end sofas, has just hired you as an accountant. The owner, Guillermo Navallez, has assigned you the tasks of determining which decisions provide the greatest returns. Resources: Guillermo Furniture Scenario and Data Sheets Read the Guillermo Furniture Scenario and review the Guillermo …

After reviewing the Financial Report from The Leslie Fay Companies from 1987 to 1991, I made ratios of Balance Sheet and Income Statement to start with audit planning, which could help us make comparison directly. Also, the calculation of ratios in liquidity, activity, profitability and solvency contains in my report. …

The income statement or the profit and loss account as it is also called measures reports how much profit (wealth) has the business generated over a period of time. To measure profit the total generated revenue over a period must be identified. Revenue is a measure of inflow of economic …

IFRS does not mandate a specific order or classification of accounts on the statement of financial position. In most cases, companies report assets in reverse order of liquidity. An example of the order of accounts on the statement of financial position is and follows: Long Term Assets Current Assets Shareholders …

1) Assuming a 25 percent tax rate, compute the after-tax cost of $23,000 worth of advertising costs. (part c) a) $23,000 b) $20,125 c) $17,250 d) $27,500 Because the advertising cost is deductible, its after-tax cost is $17,250 ($23,000 – [$23,000 × 25%]). 2) In 2013, Firm A paid $50,000 …

BE 1-1 Match each of the following forms of business organization with a set of characteristics: sole proprietorships (SP), partnership (P), corporation (C). Shared control, tax advantages, increased skills and resources. Simple to set up and maintains control with owner. Easier to transfer ownership and rise funds, no personal liability. …