logo

Financial Reports Assignment Solved

10 Pages2084 Words109 Views
   

Added on  2021-02-19

Financial Reports Assignment Solved

   Added on 2021-02-19

ShareRelated Documents
Financial Reports
Financial Reports Assignment Solved_1
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Preparation of income statement and balance sheet Twinkle Toes Shoe Shop:.....................1Preparation of financial statements of Brisbane Camping World:.........................................4CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
Financial Reports Assignment Solved_2
INTRODUCTIONThe financial statements show the net outcomes for the specified year in the preparing ofa company's final accounts. They play an important role in enabling a user to comprehend acompany's outcomes for a specified year. A financial statement is indeed a official document of acompany, individual, or any other entity's economic operations and status. It is submitted in ansimple-to-understand and organized way. The primary aim of the evaluation of a financialstatements is to use data on the business's preceding performance in order to anticipate how it ispossible in the near future. A further significant aim of the financial reports assessment is todefine and configure prospective issue regions. As financial statements are ready to satisfydemands, the 2nd stage of the process is to efficiently evaluate them in order to predict futureproductivity and cash flows (Cadman, Rusticus and Sunder, 2013). The report studies aboutpractical implication of steps applied in preparation of final accounts viz. Income statements,balance sheet, cash flow analysis and other necessary records. MAIN BODYPreparation of income statement and balance sheetTwinkle Toes Shoe Shop:Financial statements:These may be defined as written records that provides details about thebusiness transactions (only monetary transactions) and financial performances of a company. Inlisted and big organisation which is not listed, there is requirement to do audit by various Govt.agencies and other regulatory bodies to determine that these financial statements gives truepicture or not (Dyreng, Mayew and Williams, 2012). for various class of organisation differentdifferent format for preparing the financial statements are given, therefore, it is required toprepare such financial statements according to applicable laws. Financial statements of anorganisation includes following reports:Profit and loss accountBalance sheetcash flow statementChanges in the equityNotes on account1
Financial Reports Assignment Solved_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Introduction to Accounting: Balance Sheet, Cash Flow Statement and Profit and Loss
|10
|2411
|364

Accounting Principles and Financial Statements - Desklib
|21
|4348
|376

Business Report Financial Accounting Assignment
|23
|5918
|49

Introduction to Accounting: Explanation of Financial Statements and Analysis of Grenco Plc
|13
|2458
|465

Importance of Financial Management in Business Finance
|9
|2491
|24

Accounting Information System Assignment Solution (Doc)
|15
|3680
|76