Statement Analysis (LO3) You are evaluating your companys recent opera.docx

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Statement Analysis (LO3) You are evaluating your companyâ€™s recent operating performance and are trying to decide on the relative weights you should put on the income statement, the balance sheet, and the statement of cash flows. Discuss the information each of these statements provides and its role in evaluating operating performance. Solution Answer: The four basic financial statements are: 1. The balance sheet reports a firmâ€™s assets, liabilities, and equity at a particular point in time. Assets = Liabilities + Owners Equity, or A=L+OE 2.Income statement: The income statement (also known as the profit and loss statement or P&L) tells you both the earnings and profitability of a business. The P&L is always for a specific period of time, such as a month, a quarter or a year. The format of the income statement has been determined by a series of accounting pronouncements; some of these are decades old, others released in the past few years. Like the balance sheet, the income statement is broken into several parts: 3. Statement of Cash Flows shows the firmâ€™s cash flows over a given period of time. This statement reports the amounts of cash that the firm generated and distributed during a particular time period. The bottom line on the statement of cash flowsthe difference between cash sources and usesequals the change in cash on the firmâ€™s balance sheet from the previous yearâ€™s cash account balance. 4.The statement of retained earnings provides additional details about changes in retained earnings during a reporting period. This financial statement reconciles net income earned during a given period and any cash dividends paid within that period on one side with the change in retained earnings between the beginning and ending of the period on the other side. .

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a given period and any cash dividends paid within that period on one side with the change in
retained earnings between the beginning and ending of the period on the other side.

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Why is the Statement of Cash Flows Prepared? How is the Statement of Cash Flows different from the Income Statement? What types of transactions are presented in each section? Solution The cash flow statement, or statement of cash flows, measures the sources of a company\'s cash and its uses of cash over a specific time period. The income statement, or statement of financial performance, measures a company\'s financial performance, such as revenues, expenses, profits or losses over a specific time period. A cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. It captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting such as depreciation and amortization. A cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors. An income statement is the most common financial statement and shows a company\'s revenue; total expenses, including noncash accounting such as depreciation; and profit or loss, traditionally over a period of one month. An income statement is used to determine the financial performance of a company, specifically how much revenue it made, how many expenses it paid, and the resulting profit or loss from the revenue and expenses. The cash flow statement is linked to the income statement by net profit or net burn. The profit or burn on the income statement becomes the first line of the cash flow statement and is used to calculate cash flow from operations. This is referred to as the indirect method. The direct method can also be used to prepare the cash flow statement, where the money received is subtracted from the money spent to calculate net cash flow The Cash Flow Statement is divided into three distinct sections: .

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Explanation of the similarities and differences between the Income Statement and Operating Activities section of the Statement of Cash Flows a. What type of information is each statement conveying? Be specific and provide at least two examples. Solution Cash flow from operating activities is a section of the cash flow statement that provides information regarding the cash-generating abilities of a company\'s core activities. Example: Cash flow from operating activities is generally calculated according to the following formula: Cash Flow from Operating Activities = Net income + Noncash Expenses + Changes in Working Capital The noncash expenses are usually the depreciation and/or amortization expenses listed on the firm\'sincome statement. A statement of cash flows typically breaks out a company\'s cash sources and uses for the period into three categories: cash flows from operations, cash flows from investing activities, and cash flows from financing activities. Cash flows from operations primarily measures the cash-generating abilities of the company\'s core operations rather than from its ability to raise capital or purchase assets The income statement is one of the three primary financial statements used to assess a company .

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