1. Financial Statements Overview a. What are financial statements i.pdf
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1. Financial Statements Overview: a. What are financial statements in accounting, and why are they essential for businesses? b. Explain the primary types of financial statements commonly prepared by businesses. 2. Balance Sheet: a. Describe the balance sheet and its purpose in financial reporting. b. What are the main components of a balance sheet, and how are they categorized? c. How does the balance sheet provide insight into a company's financial position? 3. Income Statement: a. Define the income statement and its role in financial reporting. b. Identify key elements found on an income statement, such as revenue, expenses, and net income. c. How does the income statement reflect a company's profitability over a specific period? 4. Statement of Cash Flows: a. Explain the statement of cash flows and its significance in financial reporting. b. Outline the three main categories of cash flows presented on this statement. c. How does the statement of cash flows help assess a company's liquidity and cash management?.
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Dr. Daneshfar
School of Business
UNH
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Term Project
FINANCIAL STATEMENT ANALYSIS
NAMES OF GROUP MEMBERS
1. ___xinghaoliu____________ Focused on parts: ………………
2. ___zhangchao____________ Focused on parts: ………………
3. ___weizhao______________ Focused on parts: ………………
4. ________________________ Focused on parts: ………………
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Annual reports produced by companies are a primary source of information about a company's activities over a specific period of time. The information disclosed in these reports is prepared by the company's management and is useful to different users, mainly investors and creditors.
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As a manager, you are (or will become) involved in the preparation of financial statements, which entails knowledge of the disclosure requirements. Furthermore, you will most probably use financial statements frequently in your profession. For example, as a manager, you will be the responsible person for the accuracy of the information in the financial statement. As an analyst, you may be asked to advise clients about investments in particular companies. More importantly, as an individual investor you may use financial statements to select your personal investments.
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Visit UNH Accounting Club Website for a complete list of available resources for your term project: http://newton.newhaven.edu/accounting. You can access the resources available on the Accounting Club website and UNH library from Home as well on campus.
INTRODUCTION
Annual reports produced by companies are a primary source of information about a company's activities over a specific period of time. The information disclosed in these reports is prepared by the company's management and is useful to different users, mainly investors and creditors.
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As a manager, you are (or will become) involved in the preparation of financial statements, which entails knowledge of the disclosure requirements. Furthermore, you will most probably use financial statements frequently in your profession. For example, as a manager, you will be the responsible person for the accuracy of the information in the financial statement. As an analyst, you may be asked to advise clients about investments in particular companies. More importantly, as an individual investor you may use financial statements to select your personal investments.
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In a memo to your new assistant, Susan Thompson, complete the following:
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In a memo to the board of directors, discuss the information found in each of the following financial statements, and describe how accounting information is used by managers for planning and control:
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Accounts receivable
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framework relates the concepts and principles covered in earlier chapters
to broader, more general principles of reporting information. Later in the
chapter, the impact of all this is illustrated by looking at different possible
methods of recognising profits.
Copyright © Pearson Education (a division o f Pearson Australia Group Pty Ltd) 2016 - 9781486021079 - I obles/Horngren's Financial Accounting 8e
Learning objectives
1 Outline the process for setting
accounting standards in Australia
2 Describe the conceptual framework for
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3 Explain the objective of financial
reporting
4 Explain the general principles of
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5 Describe and apply four common
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6 Describe typical Australian practices
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L O l
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statement and how they interrelate to provide a comprehensive view of a company's financial
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of accounting with the cash basis. Highlight the key differences in recognizing revenue and
expenses between the two methods and provide scenarios where each would be appropriate.
Depreciation: Describe the concept of depreciation in accounting. Explain how it is calculated,
its importance in financial reporting, and its impact on a company's income statement and
balance sheet. Auditing: Discuss the role of auditing in accounting and its importance in ensuring
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external audits and provide examples of situations where each type of audit might be necessary.
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financial ratios (e.g., current ratio, return on equity) and explain how they are calculated and
what insights they provide about a company's financial performance. International Financial
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and contrast IFRS and GAAP, the two primary accounting frameworks used globally. Highlight
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multinational companies operating in different regions. Ethical Considerations: Discuss the
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including:
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management.
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Updating an existing contact's information.
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3. The user can add a new contact by entering the necessary information in the form and tapping
the "Save" button.
4. If the user taps on an existing contact in the list, the form should populate with that contact's
details. The user can then edit the information and save the changes.
5. The app should perform appropriate input validation to ensure that the required fields are filled
correctly, such as valid email addresses and phone numbers.
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3. Implement a "Delete" confirmation dialog to prevent accidental deletions.
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Similar to 1. Financial Statements Overview a. What are financial statements i.pdf
Analysis of Financial Statement
Abstract: A financial statement is the lifeblood of any business. People rely on these financial statements to know the condition, performance and ability to efficiently sustain past and future operations of a particular business. The above topic throws light on credentials of financial statement analysis in both theoretical and pragmatic ways. Through this I want to highlight the ways, methods and techniques to analyse the financial statements to determine the position of business, its profitability, future earnings, ability to pay interest, etc. in more detailed manner, which is helpful to extrapolate and forecast the future of a business concern.
Part 1In a memo to your new assistant, Susan Thompson, complete th.docx
Part 1
In a memo to your new assistant, Susan Thompson, complete the following:
Explain to her the similarities and differences between financial and managerial accounting.
Provide examples of managerial accounting reports that she could expect to see within EEC, and explain how management might use the information to make decisions.
Keep in mind that although the income statement, the statement of owners’ equity balance sheet, and the cash flow statement are generated in financial accounting, they are used to develop all of your managerial accounting reports.
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GOOD ACCOUNTING STANDARD? Standards are needed to improve the
presentation of financial statements, but what exactly does this mean?
What part do the accounting concepts and principles discussed in earlier
chapters play in the making of accounting standards? We will discuss the
object and principles of financial reporting and the impact of the conceptual
framework on companies like Smart Touch and Greg's Tunes.
Earlier chapters have explained how accountants measure business
events and put a value on business assets, and how that information is
reported, using some basic accounting principles. Those, and later,
chapters also look at how to use this information to make business
decisions. In this chapter we look at an extensive list of principles that
have been developed into a conceptual framework of accounting. The
standard-setting process and the nature and content of the conceptual
framework in Australia are described in the first part of this chapter. The
framework relates the concepts and principles covered in earlier chapters
to broader, more general principles of reporting information. Later in the
chapter, the impact of all this is illustrated by looking at different possible
methods of recognising profits.
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Learning objectives
1 Outline the process for setting
accounting standards in Australia
2 Describe the conceptual framework for
financial reporting
3 Explain the objective of financial
reporting
4 Explain the general principles of
financial reporting
5 Describe and apply four common
methods of profit recognition
6 Describe typical Australian practices
for the disclosure of financial
information
7 Explain how market values are used in
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L O l
Outline the
process for
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standards in
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analyzing financial transactions to provide crucial insights into an organization's financial health.
Considering the multifaceted nature of accounting, please provide a detalled response to the
following: Double-Entry Accounting: Explain the concept of double-entry accounting and its
significance in maintaining the integrity of financial records. Provide an example of a financial
transaction and illustrate how it would be recorded using the double-entry accounting system.
Financial Statements: Discuss the primary financial statements used in accounting (i.e., the
balance sheet, income statement, and cash flow statement). Explain the purpose of each
statement and how they interrelate to provide a comprehensive view of a company's financial
performance and position. Accrual vs. Cash Accounting: Compare and contrast the accrual basis
of accounting with the cash basis. Highlight the key differences in recognizing revenue and
expenses between the two methods and provide scenarios where each would be appropriate.
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its importance in financial reporting, and its impact on a company's income statement and
balance sheet. Auditing: Discuss the role of auditing in accounting and its importance in ensuring
the accuracy and reliability of financial information. Explain the difference between internal and
external audits and provide examples of situations where each type of audit might be necessary.
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financial ratios (e.g., current ratio, return on equity) and explain how they are calculated and
what insights they provide about a company's financial performance. International Financial
Reporting Standards (IFRS) vs. Generally Accepted Accounting Principles (GAAP): Compare
and contrast IFRS and GAAP, the two primary accounting frameworks used globally. Highlight
the key differences in principles and reporting requirements, and discuss the implications for
multinational companies operating in different regions. Ethical Considerations: Discuss the
ethical considerations and responsibilities of accountants in financial reporting and decision-
making. Provide examples of ethical dilemmas that accountants might encounter and explain
how they should navigate these situations while upholding professional integrity. Taxation and
Accounting: Explain the relationship between taxation and accounting, emphasizing how tax
laws and regulations impact financlal reporting and decisionmaking for businesses. Provide
insights into tax planning strategies and their implications on a company's financial statements.
Emerging Trends in Accounting: Explore current and emerging trends in the field of accounting,
such as the use of artificial intelligence, blockchain technology, and sustainability reportin.
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INTRODUCTION TO ACCOUNTING, TYPES, COMMERCE RELATED, DEFINITION, OBJECTIVES, LIMITATIONS, BRANCHES AND CLASSIFICATION, IMPORTANT QUESTIONS, FINANCIAL ACCOUNTING CLASS, COST ACCOUNTING, MANAGEMENT ACCOUNTING, TAX ACCOUNTING AND SOCIAL RESPONSIBILITY ACCOUNTING,
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1.1. You are assigned to develop a personalized contacts management .pdf
1.1. You are assigned to develop a personalized contacts management app for Android using
Java and XML with a backend SQLite database. The app will allow users to store and manage
their contacts' information efficiently.
Requirements:
User Interface: Design the user interface using XML to create an intuitive and user-friendly form
for adding and updating contacts. The form should include the following fields:
1. Contact Name (TextInputLayout not EditText)
2. Contact Email (TextInputLayout not EditText t)
3. Contact Phone Number (TextInputLayout not EditText t)
4. Contact Birthday (DatePicker)
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information. The database should have a single table named "Contacts" with the following
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1. ID (Primary Key, Auto-increment)
2. Name (Text)
3. Email (Text)
4. Phone Number (Text)
5. Birthday (Text) Java
Code Implementation: Implement the necessary Java classes to handle the database operations,
including:
1. DatabaseHelper: A subclass of SQLiteOpenHelper to manage database creation and version
management.
2. ContactModel: A POJO (Plain Old Java Object) class to represent a contact entity, and it
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Deleting a contact from the database.
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3. The user can add a new contact by entering the necessary information in the form and tapping
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The Mitchells attended Alexanders Auction, where they frequently shopped to obtain
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were told by the auctioneer that the inside compartment of the safe was locked and that no key
could be found to unlock it. The safe was part of the Sumstad Estate. Several days after the
auction, the Mitchells took the safe to a locksmith to have the locked compartment opened.
When the locksmith opened the compartment, he found $32,207 in cash. The locksmith called
the City of Everett Police, who impounded the money. The City of Everett commenced an action
against the Sumstad Estate and the Mitchells to determine who owns the cash that was found in
the safe. City of Everett, Washington v. Mitchell
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Put what you need into a contact otherwise you may have no recourse in a lawsuit..
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4: Government Intervention Discussion Topic: The Government on any year is around 20%25%
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a) Draw social indifference curves for the economy in question. What is the rate at which
society is willing to trade one persons welfare for another?
b) Suppose that person 1s utility function is U1=A+2B and person 2s utility function is
U2=3A+B. Suppose that each person is endowed with 15 units of goods A and B (making
a total of 30 units in the economy). Determine the optimal allocation in the economy,
under the condition that both individuals receive at least as much utility as their endowed
consumption bundle.
NOTE: The marginal utilities for person 1 are: MUA=1, MUB=2. The marginal utilities
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Image Swap ApplicationFishing Images
Click on an image to enlarge.Catch and Release.
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current database. We would like to add some additional information to it: what exactly is each of
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