Describe the purpose of financial statement

Assignment Help Accounting Basics

Reference no: EM13819051

Write a two to three (2-3) page paper in which you:

1. Describe the purpose of each financial statement. Determine which one (1) is the most effective in communicating the financial health of an organization. Defend your position.

2. Compare the major functions of an accountant to that of a certified public accountant. Make an argument for and against the importance of accounting and accountants in our society from a U.S. or global perspective.

3. Imagine that you have decided to create your own business venture. Determine whether the company will be a service or merchandising company. Describe the differences between the charts of accounts for both companies.

4. Based on the company that you selected in 3, make an argument for automating the accounting process, and implement at least three (3) types of internal controls to prevent or detect theft or fraud.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format.
Include a cover page containing the title of the assignment. The cover page and the reference page are not included in the required assignment page length.

Reference no: EM13819051

Questions Cloud

Death rate is listed as one of the factors attributed : Death rate is listed as one of the factors attributed to the population growth. On average, how has the death rate changed over the past several decades. To what can the changes be attributed

Problem on cca-ranger incorporated : Ranger Inc., a Canadian public company with a December 31st year end has the following balances in the CCA classes for its assets at January 1, 2005.

Cca-rental income-beta corporation : Beta Corp. purchased two rental properties in 2006. Building X cost $40,000; building Y cost $200,000. The buildings earned the following income or loss during fiscal 2006. The CCA rate is 4%.

Problem on capital gains-magma corporation : In 20x9, Magma Corp. disposed of two investments. Stock A was sold for $500,000 and cost $345,000. Stock B was purchased for $195,000 and was sold for $150,000. The investments were held as capital property. Magma Corp. paid $5,000 to a broker to ..

Describe the purpose of financial statement : Describe the purpose of each financial statement. Determine which one (1) is the most effective in communicating the financial health of an organization. Defend your position.

Evaluate the effectiveness of your communications campaign : Explain how you will evaluate the effectiveness of your communications campaign. Provide a specific example of how social marketing was used in a health campaign

Explain the root causes of johnson''s conflict with congress : Explain the root causes of Johnson's conflict with Congress. Why did Congress believe it had the right to impeach Johnson

Question-federal tax payable-jeb corporation limited : Jeb Corporation Limited (JEB), a Canadian incorporated company, operates a retail chain of computer supplies stores in Canada and abroad.

What is the amount of the firms ebit : Advantage First Corporation has sales of $4,354,880; income tax of $441,294; the selling, general and administrative expenses of $218,382; depreciation of $311,692; cost of goods sold of $2,528,220; and interest expense of $120,225. What is the amoun..

User Account

All Pages