Horizontal spreadsheet of past two years
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1 Excel spreadsheet + 1 - 3 paragraph memo
Details: Using the sample format, list each of the activities in the scenario showing how they affect the balance sheet, income statement, and statement of cash flows by listing each year on a horizontal financial statement. At the bottom of the spreadsheet, include a column total for each of the categories.
Using the definitions of upstream costs, cost of goods sold, and downstream costs, identify the items that would be classified as upstream costs, cost of goods sold, and downstream costs. Write a memo to the president regarding these classifications.
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Solution Summary
Details: Using the sample format, list each of the activities in the scenario showing how they affect the balance sheet, income statement, and statement of cash flows by listing each year on a horizontal financial statement. At the bottom of the spreadsheet, include a column total for each of the categories.
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Accounting is the means by which information about an enterprise is communicated and, thus, is sometimes called the language of business. Costs, prices, sales volume, profits, and return on investment are all accounting measurements. Many different users have need for accounting information in order to make important decisions. These users include investors, creditors, management, governmental agencies, labor unions, and others. Because the primary role of accounting information is to provide useful information for decision-making purposes, it is sometimes referred to as a means to an end, with the end being the decision that ...
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