The financial analysis will help to give recommendations regarding the current financial condition of CanGo. The best way to measure the performance of a company such as Cango is by performing a financial analysis. By looking at CanGo’s current financial state it will help to better the company and ensure the future success of CanGo. Currently CanGo is doing fairly good financially in that they have managed to keep their current ratio at a reasonable number of 5.39%. With that number as it stands, if CanGo had to they could be capable of paying off their debts and would be able to continue to do business.
Depending on whether there are more or less doubtful debts to be catered for by the close of the financial period, provision will be adjusted up or down annually to cover all doubtful debts shown within the income statement (Black, 2013). Within the statement of financial position, closing balance of provision should be deducted from Trade Receivables. Thus, the £550 doubtful debts from Stafford Limited will be deducted from the Trade
The financial data and the information provided in the analysis of the financial situation are following the accounting principles (GAAP). Some other data and results which are not accepted GAAP but related
Edmonds, T. P., Tsay, B., & Olds, P. R. (2011). Fundamental managerial accounting concepts (6th ed.). New York, NY: McGraw-Hill
Company Report on Home Depot Home Depot is a home improvement company that was incorporated in Delaware in 1978 and began trading on the New York Stock Exchange on April 18, 1984. The company is trading using the ticker symbol of HD and has an average trading volume of 3 million shares. In addition, it has a market cap of 144.3 billion. Home Depot is a very large organization and currently operated approximately 2,200 retail stores. This company’s main focus is on construction of personal homes and the home’s maintenance.
Conducting intake on all complaints received from the OIG Hotline via phone, mail, email, and in person; take difficult complaints and statements. Review and analyze complaints received to determine the specific allegations and whether the allegations involve fraud, waste, abuse, or mismanagement, criminal violations, or other misconduct in SBA Small Business programs and operations that fall within the jurisdiction of the Office of Inspector General. Utilize Dynamic Small Business Search and Federal Procurement Data System to research small ensures business complies and completes SBA-OIG Hotline Complaint Referral form. Coordinate findings and send recommendations OIG to the Investigations and Audit Division to determine if an investigation
Accrued revenue is income which has been earned but not yet received and the accrued revenue term is sometimes also applied to revenue for which an entity has not yet issued a billing, and for which it has not yet been paid. This is a common occurrence in the services industry, where a project may issue an invoice at the end of the project to involve billable services for several months. Accrued revenue is usually listed in the current assets section of the balance sheet in an accrued receivables account. Ohlson (1995) and Feltham and Ohlson (1995), show that future profitability and firm value depend on growth in net operating assets as well as current profitability. They can disaggregate growth in net operating assets into two components which are accruals and growth in long-term net operating assets—just as they can disaggregate profitability into accruals and cash flows from operations.
As student of accounting and business at DeVry University in Addison, Illinois, Joanna Manaves garnered enough credit hours to take the Uniform Certified Public Accountant Examination. After earning her bachelor’s degree in 1994, she embarked on a management career as an accounting and financial services professional. Joanna Manaves currently serves as the director of supply chain management and product control for the Peacock Engineering Company. From its headquarters in Geneva, Illinois, Peacock provides range of primary and secondary packaging, supply chain and project management, process engineering, and co-manufacturing services. Joanna Manaves’ duties with Peacock encompass a wide range of production control and inventory management
Analysis • This section is regarded as the most critical step in writing an effective accounting memo by bringing together the required facts of the research, any supporting authoritative literature, and an accountants overall evaluation before forming a conclusion. • Analysis includes information from relevant guidance, along with an accountant’s own words about how the guidance is applicable. • The memo should contain enough authoritative guidance that the user will not need to perform additional research in the Codification. • Make sure to utilize the concept known as the “guidance sandwich.”
What do pro forma financial statements show? There are various things Pro forma financial statement shows but first, let’s understand the word pro forma which means a financial statement based on projection and assumption of what the business future would be to determine what should be happening now. Pro forma financial statement can be thought of as a “Projected results for financial statements in the future, given assumptions about what will happen in the meantime” (Siegel & Yacht, 2009, p. 81).
Introduction The main objective of the paper is to develop a report for a shareholder that will interpret financial statements of Tesco Plc. for 2013-2014. The shareholder is specifically concerned about the fraudulent reporting. In this way, the paper will explain the reason of income statement and statement of financial position.
The project investigates whether GAAP-mandated moderation will affect the accounting prosses or no. Furthermore, this conservation which is considered as cross-sectional changes in administrative rulesmight drive the differences in non-operating accumulations among nations. The research stated that legal and cultural origin could affect a country 's accounting rules. However, experts do not imagine the influences of GAAP-mandated reaction on the consequences to be very important. Finally, I have noted that the generalizability of the project findings may be somewhat limited since my sample comprises a limited number of companies that are contained in the chosen
The accounting profession has been and will continue to be on the front lines of the challenge to provide investors, managers, directors, regulators, and others with up-to-date, reliable, and comparable financial reporting information, while the demands placed on the profession are. We expect financial statement preparers to apply judgment in the preparation and auditors to apply judgment in the audit of financial statements in a professional manner. This involves applying relevant training, knowledge, and experience within the context provided by relevant professional and technical standards, as applicable, in making informed decisions about courses of action that are appropriate in the circumstances. Confidence in the profession and in both rules- based and principles-based standards require demonstrating collectively that, as professionals, auditors must be capable of making sound judgments, because it is vital for the future of the
Individual Assignment Each type of occupation has to be a guide, for an accountant, it is called accounting ethics that represents to the professional jugment and the value of practicing accounting. • Competence Li has been achieving an accounting core competency by being able to perform work in a efficient time. In addition, she is working as a tax manager for 6 firms in Sydney which means she must be able to maintain the professional level in developing her knowledge and skills. More than that, her performance has to be following the standards, regulations and laws, that means “turn a blind eye” is impossible. • Integrity
Legal requirement There is often a statutory obligation to keep and publish accounts and donor agencies almost always require audited accounts as a condition of grant aid. Future planning Although financial accounting information is historical (i.e. happened in the past), it will help managers to plan for the future and understand more about the operations of the NGO (Lewis, T. 2013. Mango’s Handbook for NGOs: page
