ACCOUNTING 1 ACC114 financial statements. This week you’ll each take a little web field trip to the financial statements (annual report) of two different publicly held companies to see what some real financial statements look like.
To make sure you’ve answered each question and that I can quickly see that you’ve answere-d each question, please label (numberand letter) your answers as follows
ACCOUNTING 1 ACC114 financial statements
1. What two companies did you choose? 2. A. What are the differences between their income statements? 2 B. What are the similarities between their income statements? 3. A. What are the differences between their balance sheets? 3. B. What are the similarities between their balance sheets?
3. C. What classifications does each one have, such as current assets, long-term or non-current assets, etc.? [Hint:Read the Unit 5 Financial Statement Supplement in Doc Sharing first. J learn the difference between an element of the accounting equation (asset, liability, equity). A classification (a category under each element containing different specific accounts, like property plant and equipment, non-current liabilities) and specific accounts (like cash, accounts payable), and then list only classifications.
ACCOUNTING 1 ACC11
Many companies don’t break down equity into classifications, and if yours doesn’t, then just list stockholders’ equity or shareholders’ equity or whatever your company class its equity. A company might have Stockholders’ Equity and some sort of Non-controlling interest as classifications under equity. J]
3. C.1. What classifications does your first company have on the balance sheet? 3. C.2. What classifications does your second company have on the balance sheet? 4. Locate the notes to the financial statements and highlight some of the notes you found that would be of interest to investors about each company. 4. A. Notes of interest for your first company. 4. B. Notes of interest for second company.
Follow APA. Your paper should include an introduction, a body, and a conclusion. Also, support your answers with the course’s readings and at least two scholarly journal articles. The article’s purpose is to support your positions, claims, and observations, in addition to your textbook.
ProQuest and EBSCOhost are great sites to find resources. Also, write in concise and logical, using excellent grammar and style techniques. Additionally, the quality of your writing dictates grading criteria. On the other hand, if you use direct quotes from books or articles, place the words you copied (use parenthesis) and cite in-line.
The quotes should be complete sentences (no more, less) and should be incorporated in your essay to illustrate your ideas. Please, cite your sources in a clickable reference list at the end. Also, do not copy without providing proper attribution (quotation marks and in-line citations). Also, write an essay format, not in bullet form, numbering, or another list format. It would be best if you use your own words. Lastly, proofread your work and run it through Grammarly for thorough confirmation.