Best Accounting Term Paper Help-Understanding Financial Statements

Understanding Financial Statements

Tasks: Best Accounting Term Paper Help-Understanding Financial Statements

  • Put the following income statement and balance sheet terms (general  ledger accounts) in the proper order for properly prepared financial  statements:
    Taxes, interest, gross profit, selling, general and  administrative expenses, sales, depreciation, net income, cost of goods  sold, EBITDA.
  • Put the following balance sheet terms (general ledger accounts) in  the appropriate category as either short-term assets, long-term assets,  short-term liabilities, long-term liabilities, and/or owner’s equity for  properly prepared financial statements:
  • Cash, accounts payable, accruals, property, plant and equipment,  inventory, accounts receivables, paid in capital, retained earnings,  notes payable, mortgage, accounts payable.
  • In terms of McGladrey and Pullen’s Reading & understanding financial statements: A guide to financial reporting, explain the balance sheet equation in 300 words or less. Incorporate this explanation into your complete initial post.

Scenario:

In this assignment, you will learn to read and interpret financial  statements. Understanding the four financial statements provided in the  lectures and reading for this week and dealing with a company’s  financial performance is critical to making decisions about its  management and its relation to the global economy and financial markets.