What types of information do common size financial statements reveal about an organization? What is the best use for these common size statements? What purpose do common base year statements have? When would you use them?
What is the purpose of information presented in notes to the financial statements?
a) to provide disclosures required by generally accepted accounting principles
b) to correct improper presentation in the financial statements
c) to provide recognition of amounts not included in the totals of the financial statements
Select 2 companies in the same industry (for example, the home improvement industry or the candy industry). Use the Internet to find the companies' financial statements. From the financial statements, list the different components from the Stockholder's Equity section. Read the footnotes to the financial statements to see what t
The explanatory notes to the financial statements:
A. should be referred to if more than a cursory, and perhaps misleading impression of a firm's financial position and its results of operations is to be achieved.
B. are not an integral part of the financial statements.
D. are used by many entities to hide i
Which one of the following is not a limitation of consolidated financial statements?
A) Poor performance of one or more companies may be hidden by good performance of others.
B) Information about the financial status and results of operations of the economic entity will be reported.
C) All the consolidated retained
Obtain the financial statements for:
A non-profit organization with available financial statements.
A for-profit business organization -- you may select any public business by searching GOOGLE.
Selected: Nordstrom & Red Cross
1. Complete the two final columns shown beside each item in Soon Company's comparative financial statments.
2. Does anything significant jump out at you from the year-over-year analyses?
Please also see attached file.
What information is important to the readers of financial statements? What are the qualitative and quantitative limitations of financial statements? How might we overcome the limitations of financial statements?