Balance sheet Essay Topics

A Historical Look at U.S. GAAP

ABSTRACT This paper discusses the historical development of generally accepted accounting principles through its contributing sources from 1930 to the present. U.S. Businesses had been using double entry accounting since the 1800s yet no uniform accounting practices had been introduced until the American Institute of Accountants (AIA) recommended to the New York Stock Exchange in… View Article

Transactions and Balance Sheet Accounts

Directions: Briefly explain how each of the following transactions would affect a company’s balance sheet. Entry A: Purchase a new $40 million building,   financed 25 percent with cash and 75 percent with a bank loan. This transaction increases one asset account, decreases one asset account and increases a liability account. It is entered in the… View Article

Balance Sheet and Cookie Creations

CCC1Natalie Koebel spent much of her childhood learning the art of cookie-making from her grandmother. They passed many happy hours mastering every type of cookie imaginable and later creating new recipes that were both healthy and delicious. Now at the start of her second year in college, Natalie is investigating various possibilities for starting her… View Article

Haw Par Value Chain & Financial Ratios Analysis

1. PART ONE 1.1 Introduction Haw Par Corporation Limited is a multinational corporation engaged in healthcare, leisure businesses securities and real estate investment, among which we will mainly focus on Haw Par’s traditional business sector-the healthcare segment, which includes 9 subsidiaries (Annual report, 2010). Based on revenues generated and locations of manufacturing facilities, two prominent… View Article

Financial statement analysis

1. What is the purpose of financial statement analysis? The purpose of financial statement analysis is to provide information used by the business, potential creditors and investors. 2. If a company had sales of $2,587,643 in 1998 and sales of $3,213,456 in 2003, by what percentage did sales change during this time period? 24.18% a…. View Article

Risks in relation to Financial Statements

Financial Statements are prepared to show the true and fair view of the state of affairs of the company.Balance Sheet to show the position of assets and liabilities and Statement of profit and loss to show the net result of operations over a period. Relating to Financial Statements, the risk that we would be concerned… View Article

Balance Sheet and Income Statement Commentary

On JB Hunt’s balance sheet for 2011 lists current assets of $513,542,000 and current liabilities of $438,515,000, yielding a current ratio of 1.17, which indicates the company, has $1.17 of current assets for every $1 of current liabilities. The previous year 2010, the current ratio was 0.91. This shows a 29% increase in the current… View Article

Balance Sheet and Customer Segments

Exhibit 16 of the document showed DLJdirect’s income statement from 1994-1999 (in millions). Exhibit 17 showed DLJdirect key financial and operating performance. The revenue increased steadily from 1994 to 1997. The revenue increase $50 million in 1998 which is equivalent to 43% increase. In 1999 the revenue increased about $44 million. The income was stable… View Article

Interstate Hydraulic Manufacturing Co.

Interstate Hydraulic Manufacturing Co. is an established, family-owned manufacturer of hydraulic devices used in automobile suspensions and forklift trucks. From the factory in Muncie, Indiana, products are shipped to customers worldwide. All data processing is performed by a minicomputer, which handles payroll, billing, accounts receivable, inventory, and cost accounting. Workers clock on and off the… View Article

Competition Bike Incs

Horizontal analysis compares a company’s performance from year to year. I will be reviewing Competition Bikes Inc(CBI) balance sheets and income statements. During CBI year 6, 7 and 8 I have found their net sales , cost of goods to be fluctuating, and few various other items. The net sales from year 6 to 7… View Article

Heineken IFRS vs US GAAP

Like IFRS, reports prepared under US IFRS are presented: (i) statement of financial position, (ii) statement of comprehensive income, (iii) statement of changes in equity, (iv) statement of cash flows, and (v) notes including accounting policies. Unlike IFRS it is not required under US GAAP to present a statement of financial position as the beginning… View Article

Engagement Letter

The memo verifies the agreement of the purpose of the engagement and the quality and constraints of the services the firm offers. Talbot Auditing Firm will review the financial statements of Apollo Shoes at the end of the year. Talbot auditing firm will review the accounts such as the operations records, retained earnings, and cash… View Article

Nokia – Internal Analysis

Financial performance We start our internal analysis by looking at Nokia’s sales and profitability. Strong sales and profitability results can indicate that the previous strategies were successful and changes in either can implicate a change in the market viability (Aaker, Mcloughlin, 2007). In 2007, Nokia realized total sales of about 435 million units and a… View Article

Leslie Fay Case

The use of financial ratios assists the auditor in analyzing any unusual deviations from the expected results, (Gupta, 2004). The financial ratios are then compared with the entity’s ratios for prior periods as well as with ratios for other businesses in the same industry. A comparison with the industry ratios would have warned BDO of… View Article

Lumpkin Plumbing

Lumpkin experienced a steady increase in sales since it began 1990 and has recently expanded inventories to accommodate a relatively larger sales increase. Richard Lumpkin borrowed $150,000 to expand the warehouse to hold more inventories and include a model to attract retail sales. The expansion will benefit the company as long as inventories are managed… View Article

Smakey Dog Foods, Inc

Smackey Dog Foods, Inc is a new client to Keller CPAs firm. The nature of business for this company is to produce natural dog food. Keller has never had any experience in the audit on this industry before. Smackey Dog Foods started in a family kitchen, experienced explosive growth, and have had some troubles handling… View Article

Is IAS12 too difficult to apply and understand?

International Accounting Standards 12 continues to receive numerous criticisms on applicability and usefulness of numbers in accounting for corporate income taxes. The argument presented is that the standards set by IAS 12 are too hard to apply or even understand. In the plight of these criticisms, two accounting standards boards, UK’s (ASB) and Germany’s (GASB)… View Article

Wild Water Get Soaked

Assets: Any thing that a company owns are known as assets, they are further clasfied in Current assets and Fixed assets. Current assets are those assets which can be easily liquidated and have a shorter life as compared to fixed assets, Account receivable, cash and cash equlivents ,inventory are some examples of current assets. •… View Article

The Importance of Accounts Receivable

Accounts Receivable is the general account name for money owed to a business by its customers. It is recorded as an asset on the balance sheet. Accounts Receivable and Sales are married at the hip per se. If a sale is made, but the business hasn’t received the money from its client, the earnings are… View Article

If the Coat Fits Wear It

The Oceanic Corporation, a Chesapeake, VA based company, was established in 1994. Glenn Rodgers III founded the corporation, which was privately owned at the time, after his retirement from Norentech Corporation. The Oceanic Corporation was originally formed to provide ship repair services and quickly earned a Department of Defense (DOD) certified Alteration Boat Repair (ABR)… View Article

Alpha Corporation

1) Sources of Cash – Accounts receivable (payment from customers) , Proceeds from Sale of assets(PP&E), proceeds from sale of discontinued operations, Issue of Stock and long term debt Use of Cash – Buying of inventories, Account payables (payments to suppliers) , Purchase of Assets(PP&E), Investment in capitalized software, principal payment of short term debt,… View Article

The Regulation of Financial Reporting

1.1 Company profile JD Wetherspoon plc is pub chain based in the UK Which was founded in 1979 by Tim Martin, who established the first Wetherspoon pub.The company’s aim to provides customers with high quality food and drinks at reasonable price, enjoyed the good service by well-trained attendant in a friendly and fun environment. Furthermore,… View Article

Financial Analysis and Forecast of Sweet Dreams Inc

Sweet Dream Incorporated (SDI) is a manufacturing company focused on mattress and box spring production for large retailers and hotel chains. With two facilities at their disposal, SDI manufactures over 20 different styles of bedding for their consumers. SDI’s founder and president, Douglas May, has contacted our consulting firm with regards to current financial problems… View Article

Financial Statement Analysis

I. INTRODUCTION Financial analysis is the selection, evaluation and interpretation of financial data, along with other pertinent, to assist in investment and financial decision-making. Moreover, it is also the process of identifying financial strengths and weaknesses of the firm by properly establishing relationship between the items of the balance sheet and profit and loss accounts…. View Article

Historical Cost Accounting

Historical cost is a traditional method of recording assets and liabilities at their original or nominal value without making adjustments for inflation. It first came in evidence in Jun 1979 in a French project after numerous debates. The historical cost principle states that the asset should include all cost necessary to get the asset in… View Article

Macy’s Inc Case

Analyze the publicly-traded firm Macy’s Inc.; you are to complete a financial analysis. Complete the following steps for this portion of the project: 1. Obtain financial information for your firm for at least a 5 (2008-2012) year time period. This information should include: income statements, balance sheets, cash-flow statements. 2. Provide a brief history of… View Article

Parmalat Accounting Scandal

Summary After eluding financial analysts and investors for a long time, Parmalat went bankrupt later in December, 2003 and many of their board of directors have been arrested since then. Here is a brief summary of the events: In the late 1980’s, Parmalat’s financial situation was poor due to investment in side businesses. i.e. TV… View Article

Financial Analysis Coca-Cola and PepsiCo

We will be comparing two companies; both are strong and have great credibility. Ideally with a solid competitor we want to show differentials and make a solid contrast. In this case we want to compare at least two years of financial data. A great way to exemplify this is to compare Coke to Pepsi. To… View Article