User Account

All Pages

Examine your companys financial statements

Assignment Help Financial Accounting
Reference no: EM131146228

Assignment: Setting up a Financial Statement

As a nonaccounting manager, you will examine your company's financial statements as well as the financial statements of other companies. You must be able to recognize differences in these statements and have a general understanding of the various accounts listed on each statement.

In this assignment, you will determine the nature of various financial statement accounts, using the example of Compnet International.

Note: You will apply your learning from this assignment to calculate ratios for Compnet in the discussion for this week.

Tasks:

Consider the following scenario for this assignment: You are a manager at Compnet and your CEO has asked you to break down the financial statements into categories of accounts so that you can analyze trends within the company.

Part I: Computations

Select the links that follow to download and review the financial statements of Compnet International:

• AUO_MS6010_Compnet_Balance_Sheet_Income_Statement-3.xls
• AUO_MS6010_Ratio_Calculator-2.xls
• AUO_MS6010_Cost_Volume_Profit_Analysis_Template-2.xls
• AUO_MS6010_Compnet_Budget_Template-2.xls

As you create the new Excel worksheet, use the prepared financial statements of Compnet.

Complete the following:

• Create a horizontal trend analysis of the reported Compnet financial statements. This worksheet should list each financial statement (balance sheet and income statement in this order) on two Excel worksheets (one worksheet file).

• In column A, you would list each account on the statement (make sure you show the various categories of accounts).

• In column B and following, you would present the annual totals of each account with a monetary difference (absolute) column to compare one year to the next year and a percentage difference column.

• Therefore, for each of the two years reported, you will have Y1, Y2, Difference, and Percentage Difference columns. Your trend analysis must include three historical years. Therefore you need to compare Y1 to Y2 and then Y2 to Y3 (fiscal years 2012-2014).

Part II: Summary

After completing the computations on each of the three financial statements, provide a 1-page summary of the trends that you have observed. Describe the material trends by the category of accounts. Did that category of account increase, decrease, and if so by what amount and percentage. Remember to only discuss the major or material trends that you have observed.

Submission Details:

Apply APA standards to citation of sources. Submit both parts 1 and 2 together and be sure to clearly label each part.

Attachment:- Attachments.rar

Reference no: EM131146228

Questions Cloud

Projects are goal directed and time framed : Projects are goal directed and time framed, and when managed well, projects deliver on time and within budget and the class are familiar that all projects are temporary and undertaken to create a product, service, or result.
Do online education sites help students to get higher marks : Write a custom essay on the given topic "Do online education sites help students to get higher marks"
Find the complete solution representing the motion of mass : A harmonic force of amplitude 180 N and frequency 3.5 Hz acts on the mass. If the initial displacement and velocity of the mass are 15 mm and 5 m/s, find the complete solution representing the motion of the mass.
Examine your companys financial statements : As a nonaccounting manager, you will examine your company's financial statements as well as the financial statements of other companies.
Competitor opened up down the street : John owns a UWM Brew Pub. Business has been slow because a competitor opened up down the street and they have better food and drink specials. Instead of trying to compete, John wants out of the bar business. Who wins and why? What defenses does John ..
Find out the maximum stress within the beam in the snapping : Use ANSYS to model the undeformed beam, derive the upward buckled shape, snap the beam from its upward buckled shape to its downward buckled shape. Simulate the snapping process of the buckled beam within ANSYS. Find out the maximum stress within ..
Discuss how you might incorporate the theories : Differences between the theories. Discuss how you might incorporate the theories into your teaching practice and explain why.
Describing a social determinant of health : Describing a social determinant of health that impacts the pre-natal experience of mental health among women.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Naturalist association is going to court to proclaim

The federal government, which owns a segment of the land at Moonstone, is fed up with this activity and has started to arrest your members when they appear naked at Moonstone. The Naturalist Association is going to court to proclaim a violation of..

  What payments must zach taylor make to settle

During the current period, Department A finished and transferred 50,000 units to Department B. - how much overhead should be allocated to the ending goods in process inventory

  Determine the income from the business

Determine the income from the business, excluding the profit on the sale of the tugboat?

  Mick and donald run a fast food outlet on queen street for

mick and donald run a fast food outlet on queen street. for most of the day mick and donald are able to keep up with

  Illustrate what would ortiz report as total revenue

Illustrate what would Ortiz report as total revenue in a single-step income statement?

  What is the cost of goods manufactured

Sad Company has determined the following information for the year ended December 31, 2010. What is the Cost of Goods Manufactured for the year ended December 31, 2010? What is Finished Goods Inventory at December 31, 2010?

  Obtaining the socially optimal level of output

In the context of externalities, which method helps in obtaining the socially optimal level of output?

  Information from its accounting records

Barr Mfg. provided the following information from its accounting records for 2013: Expected production 30,000 labor hours Actual production 28,000 labor hours Budgeted overhead $900,000 Actual overhead $870,000 How much is the overhead application ra..

  Record the journal entries for the transactions

On January 5, 2014, Phil's Corporation received a charter granting the right to issue 5,000 shares of $100 par value, 8% cumulative and nonparticipation preferred stock, and 50,000 shares of $10 par value common stock. Issued 20,000 shares of common ..

  Operating expenses of a not-for-profit organization

Operating expenses of a not-for-profit organization are recorded in

  Using the straight-line method to calculate interest expense

Bonds issued at a premium. On January 1, 20x2, Jury Corp. issued $100,000 of $1,000 face value, 12%, 10 year bonds. The bonds pay interest annually, each December 31. What would the gain or loss be on the bonds that were called on May 1, 20x4, if Jur..

  Prepare journal entries in the general fund

Prepare journal entries in the General Fund of the Brownville School District.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd