Financial Accounting Presentation 2022

Financial
Accountin
g
(Student Name)

Financial Accounting 1
Table of Contents
1. Introduction............................................................................................................. 2
1.1. Importance of Accounting and Finance.....................................................................2
2. Clarks Company........................................................................................................... 2
3. Role of Accounting and Finance in Clarks........................................................................3
4. Conclusion.................................................................................................................. 4
5. References........................................................................................................... 5

Financial Accounting 2
1. Introduction
financial statement provides the representations of the phenomena that help in guiding the
decision making process of the creditors, investors as well as other interested parties (Demmer,
Pronobis and Yohn, 2019). This notion has explained under the variety guise in the accounting
literature. It plays an essential role in handling the income, expenses as well as finance related
activities for the company (Cheng and Wu, 2018).
1.1. Importance of Accounting and Finance
Finance and Accounting plays an important role for company to grow in the market in an
effective manner. There is certain importance of accounting and finance that will be explained I
the below points:
 It helps in tracking the revenue as well as other expenses for the company that helps the
organization for the smooth running of the business.
 It provide the information about the profit or loss that is occurred by the com[any
 It also provide the clear picture on the financial position of the business on specific date
 It helps in analyzing the exact cash inflow and out flow of the company to the certain
extent.
 It helps in evaluating the actual performance of the company to the certain extent.
 Proper accounting and finance process help in ensuring the statutory compliances when it
comes to the business.
 It helps in creating budget as well as future projection for the company that guide them to
manage its funds (Ahadiat and Martin, 2016).
2. Clarks Company
C. and J. Clark Ltd is better known as the Clarks, a British show manufacturer as well as Retailer
that has its base in street, Somerset, England. The company was established in the year 1825 at
the time when brothers Cyrus as well as James Clark setup the small sheepskin slipper business
in the street. Clarks continued the family business as well as operate in many other countries as
well. The company has expanded its business in the international market in an effective as well
as in an efficient manner (Watson, 2016). The company manufactures wholesales as well as also
retails the footwear for the women, men as well as children. It is known with the reputation of
having the quality footwear with the strong portfolio of the brands aswell as it focused of over
the style of the shoes that make the company unique from other competitive companies in the
market. In the year the company earned the revenue of £111 million that was based on its sales.
The company is considering as one of the 3th largest private company in the UK (Zhuang and
Qiu, 2015).
The success of the company is majorly depends of the success that is lie in the working together,
respecting each other as well as being open with the new ideas. The company manages its
finance in an effective manner that helps them to know the actual financial position of the
company to the certain extent (Koolhaas, 2017).