A Financial Statement Analysis Project for Introductory...

G lobal Perspectives on Accounting Education Volume 6, 2009, 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu, California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu, California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project requires students to analyze trends in corporate performance, to evaluate corporate financial decisions, to discuss non-financial statement issues that would be important to potential investors, to compare two companies†¦show more content†¦The project in this paper, on the other hand, is much more in keeping with the recommendations of authors such as Kimmel (1995), who call for using cases which do not have unique solutions and which require students to formulate recommendations on the basis of incomplete information. The project included here has only six requirements, which are completely detailed on a single page. Yet, while the requirements provide a systematic framework for completion, they also are open-ended, inducing students to create analyses tailored to the particular circumstances encountered by the specific companies and specific industries being analyzed at a particular point in time. T 84 A Financial Statement Analysis Project for Introductory Financial Accounting 85 PROJECT OVERVIEW Project Requirements As may be seen in the assignment sheet included in Appendix 1, the project requires students to obtain annual reports for two companies in a given industry-one to serve as the â€Å"base company† and one to serve as the â€Å"comparison company.† Then, students are required to analyze key trends in the base company’s income statement and balance sheetShow MoreRelatedA Financial Statement Analysis Project for Introductory Financial Accounting5953 Words   |  24 PagesPerspectives on Accounting Education Volume 6, 2009, 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu, California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu, California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project requiresRead MoreAnalysis of Comprehensive Annual Financial Report2237 Words   |  9 PagesAnalysis of Comprehensive Annual Financial Report Table of Content I. Abstract II. Introduction III. Introductory analysis amp; GFOA Award IV. Financial Analysis V. Financial standing VI. Conclusion VII. References Abstract Comprehensive Annual Financial Report (CAFR) is a report used by cities, and local governments to provide the public with their financial records each year, while adhering to government accounting standards board (GASB) guidelines. The report presentsRead MoreComprehensive Annual Financial Report ( Cafr )1285 Words   |  6 PagesThe Comprehensive Annual Financial Report (CAFR) is consists of three major sections- introductory, financial, and statistical. The first part includes letter of transmittal, organizational chart, and the certificate of achievement from prior year. To begin with the introductory part, I am pleased to present this written statement presentation for the CAFR of the City of Punta Gorda, Florida for the fiscal year ended September 30, 2013. The City of Punta Gorda are comprised of different entitiesRead MoreIssues in Accounting Essay example4357 Words   |  18 PagesISSUES IN ACCOUNTING EDUCATION Vol. 26, No. 4 2011 pp. 797–806 American Accounting Association DOI: 10.2308/iace-50053 Home Heaters: A Holistic View of the Financial Statements M. Cathy Claiborne and Kirkland A. Wilcox ABSTRACT: In this case, two start-up companies in the same industry have identical economic transactions. Although both companies follow generally accepted accounting principles (GAAP), each manager makes different choices and estimates when applying GAAP. By preparingRead MoreThe Fairfax County s Comprehensive Annual Financial Report Essay1522 Words   |  7 PagesCounty’s Comprehensive Annual Financial Report for the fiscal year ended June 30, 2015, addressed to the county’s residents, presenting the county’s financial position and results of operations. The County’s financial statements included in this report conform to generally accepted accounting principles as laid out by the Governmental Accounting Standards Board (GASB). It has been audited as required by the Code of Virginia and received an unmodified opinion by the accounting firm KPMG LLP on NovemberRead MoreCase study Essay2087 Words   |  9 Pagesï » ¿ACCT560 Government and Not-for-Profit Accounting Spring 2014 Project #1 CAFR Due Wednesday, February 5, 2014 at 5:30pm EST Objective: To examine a Comprehensive Annual Financial Report (CAFR) for Montgomery County, Maryland (A neighboring county located near American University). Deliverable: Turn in a hardcopy of your answers by the due date (See the Required: section for more details). Late submissions are heavily penalized or may not be accepted. Required: You must work individuallyRead MoreEssay- Accounting as a Profession2138 Words   |  9 PagesIntroductory Part Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions, including computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management. TheyRead MoreHca 270 Ratio Analysis2493 Words   |  10 Pages | |Financial Matters for Health Care Professionals | Copyright  © 2011, 2009, 2007 by University of Phoenix. All rights reserved. Course Description This course is designed as an introduction to the terminology, processes, functions, and financial reports commonly encountered in health care operations. This course introduces the concepts of basic managerial financial functions, such as budgeting, reimbursement methodsRead Moreintermediate accounting 2 test bank Essay8318 Words   |  34 PagesIntermediate Accounting Kieso 15th Edition Test Bank Click here to download the solutions manual / test bank INSTANTLY!!! http://www.solutionsmanualtestbanks.com/2013/05/intermediate-acc ounting-kieso-15th-edition-test-bank.html Intermediate Intermediate Intermediate Intermediate Accounting Accounting Accounting Accounting Kieso Kieso Kieso Kieso 15th Edition Test Bank 15th Edition Test Bank Weygandt Warfield 15th Edition Test Bank Weygandt Warfield 15th Edition Test Bank Read MoreFundamental Financial Accounting Concepts13807 Words   |  56 PagesEighth Edition Fundamental Financial Accounting Concepts Thomas P. Edmonds University of Alabama–Birmingham Frances M. McNair Mississippi State University Philip R. Olds Virginia Commonwealth University Edward E. Milam Mississippi State University (Contributing Author) FUNDAMENTAL FINANCIAL ACCOUNTING CONCEPTS Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright  © 2013, 2011, 2008, 2006 A Financial Statement Analysis Project for Introductory... G lobal Perspectives on Accounting Education Volume 6, 2009, 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu, California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu, California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project requires students to analyze trends in corporate performance, to evaluate corporate financial decisions, to discuss non-financial statement issues that would be important to potential investors, to compare two companies within an industry,†¦show more content†¦As a first step, the professors organize students into groups of four to five people, balancing the groups based on both academic major and performance in the class to date (including performance on homework and the first exam), as well as to achieve diversity. The group format is used to encourage students to learn from each other, to motivate students to consider alternative viewpoints, to develop students’ understanding of group dynamics, and to limit the amount of time required of the project for both students and the faculty who must grade it. Each professor uses a different approach in selecting the industry and companies for analysis. One professor takes industry suggestions from the class (with the restriction that there be sufficient companies so that no more than two groups will have to analyze the same pair of companies), writes the suggestions on the board, and asks students to vote for their top two choices. Then, a second vote is taken from among the top two original suggestions, with a majority vote determining the industry to be analyzed. Finally, groups have one week to send the professor an email proposing two companies to analyze, with first responders being given preference, so that no more than two groups analyze the same pair. 85 Misch and Galantine 86 The other professor announces group assignments near the end of a class session, then allows groupsShow MoreRelatedA Financial Statement Analysis Project for Introductory Financial Accounting5944 Words   |  24 PagesPerspectives on Accounting Education Volume 6, 2009, 83-96 A FINANCIAL STATEMENT ANALYSIS PROJECT FOR INTRODUCTORY FINANCIAL ACCOUNTING Marilyn B. Misch Business Administration Division Pepperdine University Malibu, California USA Carolyn A. Galantine Business Administration Division Pepperdine University Malibu, California USA ABSTRACT This paper describes a financial statement analysis project useful in both preparerbased and user-based introductory courses in financial accounting. The project Read MoreAnalysis of Comprehensive Annual Financial Report2237 Words   |  9 PagesAnalysis of Comprehensive Annual Financial Report Table of Content I. Abstract II. Introduction III. Introductory analysis amp; GFOA Award IV. Financial Analysis V. Financial standing VI. Conclusion VII. References Abstract Comprehensive Annual Financial Report (CAFR) is a report used by cities, and local governments to provide the public with their financial records each year, while adhering to government accounting standards board (GASB) guidelines. The report presentsRead MoreComprehensive Annual Financial Report ( Cafr )1285 Words   |  6 PagesThe Comprehensive Annual Financial Report (CAFR) is consists of three major sections- introductory, financial, and statistical. The first part includes letter of transmittal, organizational chart, and the certificate of achievement from prior year. To begin with the introductory part, I am pleased to present this written statement presentation for the CAFR of the City of Punta Gorda, Florida for the fiscal year ended September 30, 2013. The City of Punta Gorda are comprised of different entitiesRead MoreIssues in Accounting Essay example4357 Words   |  18 PagesISSUES IN ACCOUNTING EDUCATION Vol. 26, No. 4 2011 pp. 797–806 American Accounting Association DOI: 10.2308/iace-50053 Home Heaters: A Holistic View of the Financial Statements M. Cathy Claiborne and Kirkland A. Wilcox ABSTRACT: In this case, two start-up companies in the same industry have identical economic transactions. Although both companies follow generally accepted accounting principles (GAAP), each manager makes different choices and estimates when applying GAAP. By preparingRead MoreThe Fairfax County s Comprehensive Annual Financial Report Essay1522 Words   |  7 PagesCounty’s Comprehensive Annual Financial Report for the fiscal year ended June 30, 2015, addressed to the county’s residents, presenting the county’s financial position and results of operations. The County’s financial statements included in this report conform to generally accepted accounting principles as laid out by the Governmental Accounting Standards Board (GASB). It has been audited as required by the Code of Virginia and received an unmodified opinion by the accounting firm KPMG LLP on NovemberRead MoreCase study Essay2087 Words   |  9 Pagesï » ¿ACCT560 Government and Not-for-Profit Accounting Spring 2014 Project #1 CAFR Due Wednesday, February 5, 2014 at 5:30pm EST Objective: To examine a Comprehensive Annual Financial Report (CAFR) for Montgomery County, Maryland (A neighboring county located near American University). Deliverable: Turn in a hardcopy of your answers by the due date (See the Required: section for more details). Late submissions are heavily penalized or may not be accepted. Required: You must work individuallyRead MoreEssay- Accounting as a Profession2138 Words   |  9 PagesIntroductory Part Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions, including computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management. TheyRead MoreHca 270 Ratio Analysis2493 Words   |  10 Pages | |Financial Matters for Health Care Professionals | Copyright  © 2011, 2009, 2007 by University of Phoenix. All rights reserved. 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Edmonds University of Alabama–Birmingham Frances M. McNair Mississippi State University Philip R. Olds Virginia Commonwealth University Edward E. Milam Mississippi State University (Contributing Author) FUNDAMENTAL FINANCIAL ACCOUNTING CONCEPTS Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright  © 2013, 2011, 2008, 2006

Water Pollution is the Source of Major Conflict in Our...

Water is an important resource for every organism on Earth, yet water pollution has become a major conflict all around the world. Water makes up most of Earth and is a necessary factor for both the environment and people. Even though water is something that the human race can’t survive without, water is constantly being polluted because of humans. Oil pollution, global warming, eutrophication, sewage, air pollution, marine debris, industrial waste and radioactive waste have become the main causes of our water being polluted. All of these causes are effects of the human way of life. People have grown so careless that they don’t realize they are poisoning themselves. Water pollution needs to be considered more because it is something that†¦show more content†¦These chemicals don’t only poison surrounding wild life but they can also cause a lot of damage to surrounding families in that area who come in contact with the water. Debris getting dumped in river, lakes, and oceans is also increasing pollution in water. In 2003, a study stated that 80% of coral reefs in Asia were endangering to collapse with twenty years because of debris pollution (What Future†¦). Major bodies of water have become a main dumping ground for items such as cardboard, plastic, newspaper, and glass. Both plastic and glass can take up to a few centuries to completely break down. These products kill the sea life or cause them to evacuate the polluted area causing a disastrous outcome. Another factor of water pollution is air pollution. Air pollution is an after effect of factory smoke and it has become dirty enough that rain is becoming acidic. Acid rain poisons the marine life by filling all bodies of water with toxins. A brown cloud of pollution called Asian Haze hovered over Asia in 2002 causing damage to plant life (What Future†¦). Acidic rain is especially harmful to people because it is harder to filter the water of all the toxins from the rain. Air pollution can also cause an increase in temperature. Warmer water in a certain area causes species in that area to seek cooler water which can tip the balance causing several other negative effects. Rain alone has caused water to become polluted. Rain washes fertilizers intoShow MoreRelatedA Brief Note On Pollution Across The World1514 Words   |  7 PagesPollution Across the World The Industrial Revolution was the spearhead for several generations of heavy pollution. The engines that are being used to make work easier emit large amounts of carbon dioxide (CO2). The Earth s atmosphere is designed to handle a fair amount of carbon dioxide, but in the past century people have produced much more than it can manage. Global warming has become a recurring topic in many news stories since the late 1990 s. With the spotlight on emission control vehicleRead MorePollution Is A Major Public Health Crisis1573 Words   |  7 PagesIntroduction Water, it is one of the most significant source to mankind and our planet. While it exists, so does everything else along. However, in today’s epidemic, there has been certain factors that have risen to awareness whether we can the water today is beneficial or not? In other words, the health risks against water contamination have risen in the past few decades; all from what you may ask? Well, it could be for various factors and perspectives; either environmental or materialistic. Pollution isRead MoreWater Pollution and Water Scarcity Essay1309 Words   |  6 Pages Water is essential for humans and organisms to live â€Å"Drinking water, â€Å"2008). Water covers most of the world and makes up more of the world than land. Water comes from different sources. Water may surround us but there are still shortages. Water allows us to live but it could be harmful to our bodies when polluted. Humans and natural disasters can cause damage to the water supply It is important to con serve water whenever possible (â€Å"Drinking Water, â€Å"2008). Oceans make up two-thirds of the EarthRead MoreThe Problem Of Water Scarcity1086 Words   |  5 Pagesglobal crises and conflict? This topic is special for my readers of my website because it is a social issue that affects each country in the world. I know that they would want to know the causes of water scarcity and solutions to make a difference in preventing. I chose this genre piece because I have grown up in Tanzania, where a small part of the country has water scarcity. Furthermore, Jamaica, Qatar and Ethiopia are some of the countries which has increased the lack of water. All in all, it isRead MorePaying Attention to the Global Water Shortage Essay1272 Words   |  6 Pagesshelter, food, and water (McLeod). Of these, water stands out because although it covers most of Earth’s surface it is still in short supply and more researchers are beginning to notice a crisis may appear in the future. Most of the population in the developed world does not understand the daily struggle that people in less developed and developing countries go through in order to reach water. In countries like America, citizens simply have to turn on a faucet to receive fresh water, in countries likeRead MoreEssay about Pollution1183 Words   |  5 PagesPollution â€Å"Ours, a water planet. The ocean covers 71 percent of the surface of the globe, and it constitutes over 90 percent of all habitable space on Earth. It’s total volume is around 300 million cubic miles and its weight is approximately 1.3 million million million tons. No wonder that Arthur C. Clarke, scientist and writer, once remarked that it was ‘inappropriate to call this planet Earth, when clearly it is ocean.* * (Mulvaney 28). Ocean pollution is growing out of control, and theRead MoreWater Is The New Oil Essay784 Words   |  4 PagesWater is the New Oil In the United States today, we take water for granted. It is everywhere, it seems abundant, and yet the demand for water is greater now, than ever before. Oil has been a major force of conflict and tension, yet water stands on the brink of becoming just as critical as oil. With the growing number of people and industry on the planet, the competition for water is growing. Additionally, within the united states, the quality of water is under scrutiny. The recent tragedy ofRead MoreConserving Water Is Conserving Life. Earth Is Often Called1129 Words   |  5 PagesConserving Water is Conserving Life Earth is often called the â€Å"Blue Planet†, and rightfully so, since nearly 75 percent of the planet is covered with water. This may lead some to believe that conservation is not concerning or an important issue. What many do not realize is that only 3 percent of that 75 percent is freshwater, and less than one-third of the fresh water is in a form or location that is accessible for human consumption (American Museum of Natural History). Water conservation is anRead MoreMining: Air Pollution and Twin Lake996 Words   |  4 Pages Application of the Approach 8 2. Conclusion 11 References 13 â€Æ' 1. Introduction In our current world, negotiation happens every day, everywhere and with everybody. It is a complex social process which already becomes part and parcel of our society. It occurs in profit or non profit organizations, government sectors, dealing among nations and also in our personal situations such as salary package, house purchase, marriage, divorce and etc. The strategy to use can eitherRead MoreEnvironmental Justice Issue Of Environmental Discrimination Into The Great Lakes Restoration Initiative1748 Words   |  7 Pagesonly the largest source of freshwater in the United States but in the whole world. Indiana, Illinois, Michigan, Minnesota, New York, Ohio, Pennsylvania, and Wisconsin border the Great Lakes, and all of those states use it as a water source for a total of about 10 million people. Since the passing of the Clean Water Act, industries like U.S. Steel Industry have been using the loopholes found in the bill to further their profit, and as a side effect has caused damage to the water supply, disproportionately

Farming Company Production Competitive Market

Question: Describe about the Farming Company Production for Competitive Market. Answer: Part A Introduction Silo Pty Ltd is a farming company that specialises in the production of wheat and barley. It is known that the company is one of the producers in the international market for these commodities. The aim of this analysis is to understand the concept of demand elasticity in context of the firm along with a reference to the various factors impacting demand and supply of the commodities given. Based on the analysis of these factors, conclusion would be drawn with regards to the elasticity of the business. Demand and Supply Factors The three factors that would be impacting the demand of wheat and barley are highlighted below. Demand supply mismatch in global market It may be possible that any particular major consumer may suffer some calamity as a result of which it turns into a net importer. This leads to a crisis in the international markets and leads to higher demand. Food preferences of consumers It is likely that as the income of the consumers increase, they may shift preference in favour of more protein rich diet and thus lower the per capital consumption of wheat and barley. Increased demand of products made from wheat and barley A plethora of products are based on wheat flour and barley and any increase in the demand of these products would cause the demand for wheat and barley to increase. The three factors that would be impacting the supply of wheat and barley are highlighted below. Production trends in Australia Australia is a major producer of wheat and barley and thus any catastrophic incident such as floods, drought or cyclone may affect the supply of these commodities. Government Policies The farming trend in various countries including Australia is impacted by the relevant government policies in terms of the cropping trend which in turn may be affected by the amount of subsidies and support prices offered by the government with regards to crops and related inputs and infrastructure. Market Prices- In case when there is sustained trends where the global prices of these commodities are high, the supply tends to shift in favour of these crops as farmers want to make higher profits. However, lower prices would typically change the cropping pattern in the favour of other lucrative crops. Elasticity and Conclusion One of the foremost measures of elasticity is the demand elasticity. It is defined as the percentage change in the quantity demanded when the price changes by a unit percentage. The underlying elasticity is defined by the extent of availability of close substitutes along with the type of goods. Further, the impact of income on consumption is measured by the income elasticity. It is expected that for wheat and barley, demand elasticity would be lower than 1 and hence the demand would be inelastic. This is primarily because these items especially wheat constitutes as a staple food for a major population and is a key ingredient for various processed foods company. As a result, even if the price increases, people cannot alter their taste preferences in the short run and hence consumption is not much impacted. Further, depending upon the extent of these foods in the normal diet, the availability of substitutes is also low with rice being the only major possibility but in Australia, produc tion of rice is very less. Part B In this case, there has been a bumper harvest in the US and South America which has led to increase in the wheat yields. As a result of increase in the wheat yields in the above countries, there would be an increase in the supply of wheat in the global market. This would be reflected in the rightwards shift in the supply curve shown below. It is apparent from the above figure, that due to an increase in the supply, the supply curve has shifted to the right, thereby increasing the equilibrium quantity from Q1 to Q2. However, since the demand in the short term would remain constant, hence the equilibrium price would decrease from P1 to P2. Part C In this particular case, there is a tax introduced by the government on fertilizers due to the environmental damage caused by fertilisers. As a result of the tax on fertilisers, the cost of fertilisers would increase. Since fertiliser is a key input in cultivation of wheat and barley, hence the overall cost would increase for these farmers and hence cause a decrease in the supply which is indicated by the leftward shift in the supply curve shown below. As is apparent from the graph above, higher price would cause the supply to decrease while the demand in the short term would remain constant. Due to this movement in the supply curve, the equilibrium price would increase as indicated above while the equilibrium quantity would also decrease. Market Structure The given market structure in which Silo Pty Ltd operates is a perfectly competitive market, This may be explained on account of the following reasons. The company is only one of the many producers in the market, hence there are many sellers in the market. Also, considering the wide usage of wheat and barley, the number of buyers is also likely to be many. Further, the price of wheat and barley cannot be influenced by the company or any particular one company and is essentially determined based on global demand and global supply forces. Hence, the companies engaged in farming of these commodities are price takers and not price makers. Also, the entry barriers and exit barriers in farming business are typically low which allow the firms can easily enter and exit.