Understanding Financial Statements Essay Paper

Understanding Financial Statements Essay Paper

Instructions/Descriptions

Understanding Financial Statements Essay Paper

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FIN-315: Accounting and Financial Concepts of Business Assessment One Instructions

Complete all previous activities in the Learning Module Path: Financial Statements.

Select one topic from the Learning Module: Financial Statements.

Create a video journal and address these points:

As an entry-level professional.

As a mid-level professional.

As an executive-level professional.

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Identification: Identify the topic and explain why you believe the topic is important.

Explanation: Explain the calculations or concepts, and how it can be used in decision-making.

Application: Assuming your audience knows nothing about the topic, explain how to apply it:

Ethics: Identify 1 ethical issue related to this topic and explain how you would address it.

Process

Develop a rough idea of what you want to do.

Create a storyboard to further organize and refine your thoughts.

Operating Leverage and Performance Paper

Competency

Analyze leverage and activity ratios to review operating performance across organizations.

Scenario

At a recent get together, a longtime friend brought various types of cookies as a dessert. You had never tasted cookies of this high caliber before. Your friend never thought anything special of the cookies given she has been baking these since she was a small child. You shared that “Cookies from Home,” a profitable company based in Tempe, Arizona, started by the encouragement of friends. Intrigued, your friend stated she would like to learn more. She would like some assistance in understanding how to start and operate a business of this nature. In exchange for a 2% ownership in the company, you agree to help her develop a business plan so that she can start her own business baking, marketing, and selling these cookies.

Instructions

Write the portion of the business plan for this company addressing the following:

Explain the process of determining the breakeven point for a business.

Estimate monthly fixed costs to establish this company including equipment, rent, insurance, and other fixed costs.

Estimate variable costs per batch of cookies, identifying all variable costs.

Given the estimated costs, calculate the breakeven point and identify required sales revenue to reach this point.

Based on the costs identified above, develop a realistic pro-forma income statement of a profitable business venture which would pay your friend a salary of $ 50,000 per year.

Accounting of Financial Institutions Worksheet

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Q1 Most public accounting firms maintain audit documentation in two types of files, Describe the 2 types. (3 Marks).

Q2. What is the Format of audit Documentation? explain each part briefly. (3 Marks).

Q3. What are the 2 types of sampling risk? (2 Marks).

Q4. What are the Three Important Factors in Determining Sample Size? (2 Mark

Understanding Financial Statements Essay Paper

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