Card 405- Rough Draft Portfolio

In accounting there is much to be learned, about the financial aspects of a business. In the past five weeks I have learned the importance of financial reports and how they relate to the success of an establishment. These reports may include balance sheets and income statements, which help accountants and the public grasp the overall financial condition of a company. The information in these reports is really significant to, managers, owners, employees, and investors. Managers of a business can take and deduce financial

Fraser, L. M., & Ormiston, A. (201). Understanding financial statements (9th ed.). Upper Saddle River, NJ: Prentice Hall.

The purpose of this paper is to define accounting, and identify the four basic financial statements. The paper also explains how the different financial statements are interrelated to each other and why they are useful to managers, investors, creditors, and employees.

The course is designed to allow individuals who do not prepare accounting and financial documents to understand and use these documents as tools in effective managerial decision-making, control and planning. Topics include purposes of financial statements, analysis of financial statements using basic accounting concepts, budgeting, and financial accountability in an organization

|Nongraded Activities and|Watch the Financial Reporting for Business: Introduction to Accounting Reports and |Day 6 | |

My qualifications include 10 years of healthcare and business administration experience. Also of note is my accomplishment as an undergraduate in Health Care Management. In which, I expect to serve as a leader in the management of healthcare and related services. For the past several years, I have researched on and coordinated projects

“We certify that the attached work is entirely our own, except where material quoted or paraphrased is acknowledged in the text. We also declare that it has not been submitted for assessment in another unit or course.”

Let’s start with a review of the three requirements of Part A of the Course Project. Explain why it is important to analyze each financial transaction of a business and to report it in the Accounting Information

1-Describe the company that you currently work for, have previously worked for, or would like to work for in the future. Determine at least two (2) compelling reasons that this company should prepare and manage a budget. Predict the two (2) most likely positive and negative financial outcomes for this company if it properly or improperly performs effective budgeting.

This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions based upon the analysis.

Financial statements are used to determine the business activities of a firm and the role of accounting analysis is to determine the accuracy and quality of the information provided. This analysis would look into the degree of its accounting figures captures its business reality through the policies used and its resulting noise, potential forecast errors and its impact on Myer’s profit.

Among the tools required for every business to survive and thrive, the ability to maintain a regular self-examination holds an indispensable place. The size of the business in question is almost of no consequence, only the potential complexity of the self-examination changes. A prime tool for such self-examinations is the family of related financial reporting that has become nearly universal in western businesses: the income statement, the balance sheet, and the statement of cash flows. This trio of reports enables management and owners to carefully examine the holdings and liabilities of their business so they may make

This essay will begin to look at the main financial statements used by decision makers in businesses today. This essay will go into detail about the income statement and statement of financial position and whether these two statements provide decision makers with their financial information adequately. This essay will also include the various advantages and disadvantages of each financial statement as well as describing whom the decision makers are and why financial statements are important to them. A conclusion will be present at the end of this essay to demonstrate an overall view of whether financial statements are beneficial to decision makers.

Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization’s business activities (Wild, 2012). When running a business, accounting is a vital key to how it is managed and ran. Accounting is used to communicate data that helps people make good financial decisions. In business it is used to provide data of the company’s finances pertaining to which direction the company is going. Every company relies on good accounting practices to ensure that the business is successful and making money.

I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.