Thank you for accepting my discussion. Please not Plagiarism when returning these discussion to me. I will be running the discussion through my school Plagiarism draft checker. If you need the Textbook to resource or site please let me know I will copy the chapters to a word document and post it on here for yuo assistance.
BUS 627 Week 1 – Discussion Forum
Required Resource
Text
Porter, G., & Norton, C. (2018).
Using financial accounting information: The alternative to debits and credits
(10th ed.). Retrieved from https://www.cengage.com
· Chapter 1: Accounting as a Form of Communication
· Chapter 2: Financial Statements and the Annual Report
Recommended Resources
Book
Piper, M. (2010).
Accounting made simple: Accounting explained in 100 pages or less (Links to an external site.)
. Retrieved from https://www.academia.edu/35733742/Accounting_made_simple_pdf
· This book is a quick read and provides a brief simple introduction to the fundamentals of accounting, illustrating how to read the most important financial statements and draw a conclusion about the numbers. The book may be useful to you if you have little to no accounting background and need additional explanations of accounting in a simple manner beyond our required textbook. The book may be helpful in your overall understanding of accounting, which would aid in all the assignments this week.
Articles
Dennis , D., & Seery, A. (2016, December).
Annual reports: How to tell your story clearly
. Accountancy Ireland, 38(6), 40–42. Retrieved from https://www.charteredaccountants.ie/Accountancy-Ireland/Home
· The full-text version of this article is available through the ProQuest database in the Ashford University Library. This article discusses how a company should complete its annual report and gives an interesting perspective from the company’s side. This allows the potential investor to better understand the annual report, the advantages of preferred stock, and why this may make a wise investment choice. This article will expand your knowledge regarding the annual report and may assist you in your Reading and Using the Annual Report Case Study discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.
Jules, D., & Erskine, R. (2018, September 12).
The international code of ethics for professional accountants: Key areas of focus for SMEs and SMPs (Links to an external site.)
. International Federation of Accountants. Retrieved from https://www.ifac.org/global-knowledge-gateway/ethics/discussion/international-code-ethics-professional-accountants-key
· This article provides the new ethical codes established for international business. It offers an excellent perspective on the similarities and differences between the US and international ethical standards. This will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
Accessibility Statement does not exist.
Privacy Policy (Links to an external site.)
Lopez , K. J., & Perry, S. M., Ph.D. (2018).
The importance of virtue ethics and the role of salience in the accounting profession
. Southern Journal of Business and Ethics, 10, 86–96. Retrieved from https://salsb.wildapricot.org/sjbe
· The full-text version of this article is available through the ProQuest database in the Ashford University Library. This article provides a deep look at the importance of ethics in the accounting profession. The article covers why there may be conflict with ethics in the normal course of business for accountants. Additionally, the article concludes the importance of continuing education for certified public accountants (CPAs). The article will give you a deeper knowledge regarding ethics and may assist you with your Post Your Introduction discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.
Melé , D., Rosanas, J. M., & Fontrodona, J. (2017).
Ethics in finance and accounting: Editorial introduction
. Journal of Business Ethics, 140(4), 609–613. https://doi.org/10.1007/s10551-016-3328-y
· The full-text version of this article is available through the ProQuest database in the Ashford University Library. This article looks at efficiency versus ethics in both accounting and finance. The article discusses how to motivate employees to be more ethical, and draws conclusions between ethical rules and personal values, as well. This article will give you a deeper knowledge regarding ethics and may assist you with your Post Your Introduction discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.
Mintz , S. (2018).
Accounting in the public interest: An historical perspective on professional ethics
. CPA Journal, 88(3), 22. Retrieved from https://www.cpajournal.com/
· The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This is a very interesting article explaining the history of ethics in accounting and all the changes that have taken place. The article also provides a great overview and rationale of the Sarbanes-Oxley Act (SOX), and points out the inherent ethical issues embedded within an accountant’s role in business, and the obligation to follow the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct. The article will give you a deeper knowledge regarding ethics and may assist you with your Post Your Introduction discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.
Nathan, N. (2017, June).
Annual report can reveal the secrets a company wants to hide: Here’s how to uncover
. The Economic Times. Retrieved from https://economictimes.indiatimes.com/
· The full-text version of this article is available through the Business Insights: Global database in the Ashford University Library. This article provides additional insight, beyond your textbook, in reading and understanding a company’s annual report. The article gives tips on how to compare certain numbers to gain a better perspective and may assist you with your Reading and Using the Annual Report Case Study discussion forum this week.
Multimedia
Kloza, B. (Executive Producer), & Granberry, R. (Producer). (2014).
Accounting fundamentals
[Streaming video]. Retrieved from the Films On Demand database.
· The full version of this video is available through the Films On Demand database in the Ashford University Library. This is a four-part series on accounting fundamentals, which includes videos on the purpose of accounting, financial reporting, income statements, and balance sheets. These videos will aid the visual learner and reinforce concepts presented in your textbook, and they may assist you in your Week 1 Quiz and Week 1 CNow Homework Problems assignment this week. These videos have closed captioning and transcript.
Link Media. (2015, June 9).
How to read annual report (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/0GTJ-NeFI3Q
· This video provides a basic yet comprehensive overview of financial statements and how to read them. This video will assist more visual learners and help reinforce the concepts in your textbook, and may assist you in your Reading and Using the Annual Report Case Study discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Web Page
U.S. Securities and Exchange Commission. (2007, February 5). Beginners’ guide to financial statement. Retrieved from https://www.sec.gov/reportspubs/investor-publications/investorpubsbegfinstmtguidehtm.html
· This web page goes deeper in the U.S. Securities and Exchange Commission website and provides a review on how to read an annual report, including financial statements, footnotes, and other parts. This is an excellent resource, which may assist you with your Reading and Understanding the Annual Report Case Study discussion this week.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Websites
American Institute of Certified Public Accountants (Links to an external site.)
. (https://www.aicpa.org/)
· This website provides detailed information about the American Institute of Certified Public Accountants (AICPA). The AICPA is the professional organization of certified public accountants, overseeing the profession, setting ethical standards, and auditing standards for U.S. companies. This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
Financial Accounting Standards Board (Links to an external site.)
. (https://www.fasb.org/home)
· This website provides detailed information about the Financial Accounting Standards Board (FASB). FASB is an independent nonprofit organization that has the authority to set and interpret Generally Accepted Accounting Principles (GAAP). This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
International Accounting Standards Board (Links to an external site.)
. (https://www.iasplus.com/)
· This website provides detailed information about the International Accounting Standards Board (IASB). IASB has the authority to set and interpret International Financial Reporting Standards (IFRS). This website provides foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
Sarbanes-Oxley Act 2002 (Links to an external site.)
. (http://www.soxlaw.com/)
· This website provides detailed information about the Sarbanes-Oxley Act (SOX). SOX is the most important current piece of legislation to impact the accounting field. Congress passed the act in 2002 to bring reform and accountability to financial statement reporting. Enron and WorldCom, among other corporations, had huge accounting irregularities and fraud that brought about the need for this act. This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
U.S Securities and Exchange Commission (Links to an external site.)
. (https://www.sec.gov/)
· This website provides detailed information about the Securities and Exchange Commission (SEC). The SEC is a federal agency that enforces securities laws, and has the ultimate authority to determine the rules for preparing statements for companies whose stock is sold to the public. This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
Instruction
Prior to beginning work on this discussion forum, read Chapters 1 and 2 in your course textbook, Using Financial Accounting Information: The Alternative to Debits and Credits.
Select a company of interest that trades on the New York Stock Exchange (NYSE). The annual report can be found on your selected company’s website, usually under the heading “Investor Relations.” Select a company that a fellow student has not already posted.
Retrieve the latest two annual reports, then complete the following:
· Calculate the current ratio and profit margin ratio for the latest two years, and interpret the results. Then, explain what the ratios over the 2 years tell you.
· Locate the Management Discussion and Analysis comments in the latest annual report, and discuss the main points in your own words.
· Locate the Auditor’s Report in the latest annual report, and discuss the opinion given and who conducted the audit.
· Based on this initial quick review, provide your assessment of your chosen company.
Your initial response should be a minimum of 200 words. Graduate school students learn to assess the perspectives of several scholars. Support your response with at least one scholarly and/or credible resource, in addition to the text.
BUS 627 Week 2 – Discussion Forum 1
Required Resources
Text
Brodersen, S., & Pysh, P. (2014).
Warren Buffett accounting book: Reading financial statements for value investing
. Retrieved from https://www.vitalsource.com
· Chapter 6: Income Statement in Detail
Porter, G., & Norton, C. (2018).
Using financial accounting information: The alternative to debits and credits
(10th ed.). Retrieved from https://www.cengage.com
· Chapter 3: Processing Accounting Information
· Chapter 4: Income Measurement and Accrual Accounting
· Chapter 5: Inventories and Cost of Goods Sold
Recommended Resources
Books
Brodersen, S., & Pysh, P. (2014).
Warren Buffett accounting book: Reading financial statements for value investing
. Retrieved from https://www.vitalsource.com
· This book provides information about financial statements, including the income statement, balance sheet, and statement of cash flows, as well as financial ratios and financial statement analysis. It may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, and the Week 2 CNow Homework Problems assignment this week.
Piper, M. (2010).
Accounting made simple: Accounting explained in 100 pages or less (Links to an external site.)
. Retrieved from https://www.academia.edu/35733742/Accounting_made_simple_pdf
· This book provides a high-level overview of accounting, including the accounting equation, income statement, balance sheet, statement of cash flows, financial ratios, GAAP, cash versus accrual accounting, inventory, and cost of goods sold, and it may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, and the Week 2 CNow Homework Problems assignment this week.
Articles
Calculating cost of goods sold
. (2011). In J. Law, Business: The ultimate resource (3rd ed.). Retrieved from https://www.bloomsbury.com/us/
· The full-text version of this article is available through the Credo Reference database in the Ashford University Library. This article provides a discussion on how to calculate cost of goods sold with examples, and it may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week.
Calculating current ratio
. (2011). In J. Law, Business: The ultimate resource (3rd ed.). Retrieved from https://www.bloomsbury.com/us/
· The full-text version of this article is available through the Credo Reference database in the Ashford University Library. This article provides a concise tutorial on how to calculate the current ratio, and may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week.
Efficiency and operating ratios
. (2014). In QFinance: The ultimate resource (5th ed.). Retrieved from https://www.bloomsbury.com/us/
· The full-text version of this article is available through the Credo Reference database in the Ashford University Library. This article provides a concise tutorial on how to calculate efficiency ratios including inventory turnover ratio and may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week.
Gross profit margin ratio
. (2014). In QFinance: The ultimate resource (5th ed.). Retrieved from https://www.bloomsbury.com/us/
· The full-text version of this article is available through the Credo database in the Ashford University Library. This article provides a concise discussion of the gross profit margin ratio, including how to calculate it and why it is important, and it may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week.
Johnston , L. A. (2017, April).
Considering cash: Advantages and availability of the cash method of accounting
. Tax Adviser, 6–7. Retrieved from https://www.thetaxadviser.com
· The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This article provides an in-depth discussion of the differences between cash basis and accrual basis accounting, with a specific focus on the advantages of cash basis accounting for businesses that are not required to use accrual basis accounting for tax purposes. It may assist you with your Week 2 CNow Homework Problems assignment this week.
Multimedia
Edspira. (2013, July 12).
Gross profit margin ratio, defined and explained (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/bPXNgnbRsfw
· This video discusses and demonstrates how to calculate the gross profit margin ratio and may assist you with your Current Assets and Current Liabilities Analysis Case Study discussion forum and Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Edspira. (2013, July 15).
How to calculate inventory turnover (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/Ophz0_bkUAg
· This video discusses and demonstrates how to calculate the inventory turnover ratio and may assist you with your Inventory Turnover Analysis Case Study discussion forum and Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Edspira. (2014, August 31).
Average cost inventory method (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/qAWVVw-dC5A
· This video discusses and demonstrates how to calculate ending inventory using the average cost method and may assist you with your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Edspira. (2014, August 31).
FIFO inventory method (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/Wa83L8TvoaM
· This video discusses and demonstrates how to calculate ending inventory using the FIFO method and may assist you with your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Edspira. (2014, August 31).
LIFO inventory method (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/zLAvpS6o25E
· This video discusses and demonstrates how to calculate ending inventory using the LIFO method and may assist you with your Week 2 CNow Homework problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Khan Academy. (2011, March 30).
Comparing accrual and cash accounting | Finance & capital markets | Khan Academy (Links to an external site.)
[Video file]. https://youtu.be/LU_6amWC6H8
· This video discusses the difference between accrual and cash accounting, and it may assist you with your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Kloza, B., & Walko, D. S. (Executive Producers), & Dimoff , D. (Producer). (2015).
Ratio analysis: Business finance essentials
[Series episode]. In Business finance essentials [Streaming video]. Retrieved from the Films On Demand database.
· The full version of this video is available through the Films On Demand database in the Ashford University Library. This video covers the ratios most commonly used to analyze a business and summarizes ratio analysis, quick ratio, inventory turnover ratio, debt-to-equity ratio, return-on-equity ratio, and net profit margin ratio. This video may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Kloza, B., & Walko, D. S. (Executive Producers), & , R. (Producer). (2014).
Basic accounting terms
[Segment]. In Accounting basics and definitions: Accounting fundamentals [Series episode]. In B. Kloza (Executive Producer), & R. Granberry (Producer), Accounting fundamentals [Streaming video]. Retrieved from Films On Demand database.
· The full version of this video is available through the Films On Demand database in the Ashford University Library. This video provides an overview of accounting fundamentals, including importance of accurate accounting, basic accounting terms, financial reporting, income statements, balance sheets (assets), balance sheets (liabilities), and owner equity and statements of cash flows. This video may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Web Page
Boundless. (n.d.).
Differences between accrual-basis and cash-basis accounting (Links to an external site.)
. Retrieved from http://oer2go.org/mods/en-boundless/www.boundless.com/accounting/textbooks/boundless-accounting-textbook/detailed-review-of-the-income-statement-13/revenue-recognition-85/differences-between-accrual-basis-and-cash-basis-accounting-390-7238/index.html
· This web page provides a concise overview of the differences between cash basis and accrual basis accounting, and it may assist you with your Week 2 CNow Homework Problems assignment this week.
Accessibility Statement doesn’t exist.
Privacy Policy doesn’t exist.
Instruction
Prior to beginning work on this discussion forum , read Chapters 3, 4, and 5 in the course textbook, Using Financial Accounting Information: The Alternative to Debits and Credits, and Chapter 6 in the course textbook, Warren Buffett Accounting Book: Reading Financial Statements for Value Investing.
Using the same company and annual reports that you chose in your
Week 1 – Discussion Forum
, Reading and Using the Annual Report Case Study, address the following:
· Calculate the gross profit ratio, operating margin ratio, and net income margin ratio for the latest two years, and obtain the industry average ratios (if available) from IBISWorld.
· Analyze these ratios and discuss what each of these ratios tells you about the company’s profitability, and how it compares to the industry averages.
· Note any trends in these ratios from year-to-year, and discuss your assessment of the company based on these changes.
· If you were an investor, explain why you would or would not buy stock in the company.
Your initial response should be a minimum of 200 words. Graduate school students learn to assess the perspectives of several scholars. Support your response with at least one scholarly and/or credible resource, in addition to the text.
BUS 627 Week 2 – Discussion Forum 2
Required Resources
Text
Brodersen, S., & Pysh, P. (2014).
Warren Buffett accounting book: Reading financial statements for value investing
. Retrieved from https://www.vitalsource.com
· Chapter 6: Income Statement in Detail
Porter, G., & Norton, C. (2018).
Using financial accounting information: The alternative to debits and credits
(10th ed.). Retrieved from https://www.cengage.com
· Chapter 3: Processing Accounting Information
· Chapter 4: Income Measurement and Accrual Accounting
· Chapter 5: Inventories and Cost of Goods Sold
Recommended Resources
Books
Brodersen, S., & Pysh, P. (2014).
Warren Buffett accounting book: Reading financial statements for value investing
. Retrieved from https://www.vitalsource.com
· This book provides information about financial statements, including the income statement, balance sheet, and statement of cash flows, as well as financial ratios and financial statement analysis. It may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, and the Week 2 CNow Homework Problems assignment this week.
Piper, M. (2010).
Accounting made simple: Accounting explained in 100 pages or less (Links to an external site.)
. Retrieved from https://www.academia.edu/35733742/Accounting_made_simple_pdf
· This book provides a high-level overview of accounting, including the accounting equation, income statement, balance sheet, statement of cash flows, financial ratios, GAAP, cash versus accrual accounting, inventory, and cost of goods sold, and it may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, and the Week 2 CNow Homework Problems assignment this week.
Articles
Calculating cost of goods sold
. (2011). In J. Law, Business: The ultimate resource (3rd ed.). Retrieved from https://www.bloomsbury.com/us/
· The full-text version of this article is available through the Credo Reference database in the Ashford University Library. This article provides a discussion on how to calculate cost of goods sold with examples, and it may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week.
Calculating current ratio
. (2011). In J. Law, Business: The ultimate resource (3rd ed.). Retrieved from https://www.bloomsbury.com/us/
· The full-text version of this article is available through the Credo Reference database in the Ashford University Library. This article provides a concise tutorial on how to calculate the current ratio, and may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week.
Efficiency and operating ratios
. (2014). In QFinance: The ultimate resource (5th ed.). Retrieved from https://www.bloomsbury.com/us/
· The full-text version of this article is available through the Credo Reference database in the Ashford University Library. This article provides a concise tutorial on how to calculate efficiency ratios including inventory turnover ratio and may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week.
Gross profit margin ratio
. (2014). In QFinance: The ultimate resource (5th ed.). Retrieved from https://www.bloomsbury.com/us/
· The full-text version of this article is available through the Credo database in the Ashford University Library. This article provides a concise discussion of the gross profit margin ratio, including how to calculate it and why it is important, and it may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week.
Johnston , L. A. (2017, April).
Considering cash: Advantages and availability of the cash method of accounting
. Tax Adviser, 6–7. Retrieved from https://www.thetaxadviser.com
· The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This article provides an in-depth discussion of the differences between cash basis and accrual basis accounting, with a specific focus on the advantages of cash basis accounting for businesses that are not required to use accrual basis accounting for tax purposes. It may assist you with your Week 2 CNow Homework Problems assignment this week.
Multimedia
Edspira. (2013, July 12).
Gross profit margin ratio, defined and explained (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/bPXNgnbRsfw
· This video discusses and demonstrates how to calculate the gross profit margin ratio and may assist you with your Current Assets and Current Liabilities Analysis Case Study discussion forum and Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Edspira. (2013, July 15).
How to calculate inventory turnover (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/Ophz0_bkUAg
· This video discusses and demonstrates how to calculate the inventory turnover ratio and may assist you with your Inventory Turnover Analysis Case Study discussion forum and Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Edspira. (2014, August 31).
Average cost inventory method (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/qAWVVw-dC5A
· This video discusses and demonstrates how to calculate ending inventory using the average cost method and may assist you with your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Edspira. (2014, August 31).
FIFO inventory method (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/Wa83L8TvoaM
· This video discusses and demonstrates how to calculate ending inventory using the FIFO method and may assist you with your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Edspira. (2014, August 31).
LIFO inventory method (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/zLAvpS6o25E
· This video discusses and demonstrates how to calculate ending inventory using the LIFO method and may assist you with your Week 2 CNow Homework problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Khan Academy. (2011, March 30).
Comparing accrual and cash accounting | Finance & capital markets | Khan Academy (Links to an external site.)
[Video file]. https://youtu.be/LU_6amWC6H8
· This video discusses the difference between accrual and cash accounting, and it may assist you with your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Kloza, B., & Walko, D. S. (Executive Producers), & Dimoff , D. (Producer). (2015).
Ratio analysis: Business finance essentials
[Series episode]. In Business finance essentials [Streaming video]. Retrieved from the Films On Demand database.
· The full version of this video is available through the Films On Demand database in the Ashford University Library. This video covers the ratios most commonly used to analyze a business and summarizes ratio analysis, quick ratio, inventory turnover ratio, debt-to-equity ratio, return-on-equity ratio, and net profit margin ratio. This video may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Kloza, B., & Walko, D. S. (Executive Producers), & , R. (Producer). (2014).
Basic accounting terms
[Segment]. In Accounting basics and definitions: Accounting fundamentals [Series episode]. In B. Kloza (Executive Producer), & R. Granberry (Producer), Accounting fundamentals [Streaming video]. Retrieved from Films On Demand database.
· The full version of this video is available through the Films On Demand database in the Ashford University Library. This video provides an overview of accounting fundamentals, including importance of accurate accounting, basic accounting terms, financial reporting, income statements, balance sheets (assets), balance sheets (liabilities), and owner equity and statements of cash flows. This video may assist you with your Current Assets and Current Liabilities Analysis Case Study and Inventory Turnover Analysis Case Study discussion forums, as well as your Week 2 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Web Page
Boundless. (n.d.).
Differences between accrual-basis and cash-basis accounting (Links to an external site.)
. Retrieved from http://oer2go.org/mods/en-boundless/www.boundless.com/accounting/textbooks/boundless-accounting-textbook/detailed-review-of-the-income-statement-13/revenue-recognition-85/differences-between-accrual-basis-and-cash-basis-accounting-390-7238/index.html
· This web page provides a concise overview of the differences between cash basis and accrual basis accounting, and it may assist you with your Week 2 CNow Homework Problems assignment this week.
Accessibility Statement doesn’t exist.
Privacy Policy doesn’t exist.
Instruction
Prior to beginning work on this discussion forum, read Chapter 5 in the course textbook, Using Financial Accounting Information: The Alternative to Debits and Credits.
You may consider using the same company and annual reports that you chose in your
Week 1 – Discussion Forum
, Reading and Using the Annual Report Case Study. This choice will only work if the company generates the bulk of its revenue from the sale of goods and maintains inventory. If not, then you will need to select another company for this analysis. Choose a company that a fellow student has not already posted.
Address the following:
· Calculate the inventory turnover ratio and number of days’ sales in inventory for the company for the latest two years. Obtain the industry averages for these ratios and any other pertinent information from IBISWorld, and analyze the results.
· Discuss what each of these ratios tells you about the company’s efficiency in managing its inventory, and how they compare to the industry average.
· Identify the major causes of any changes in these ratios, and discuss your assessment of the company based on these changes.
· If you are an investor, explain whether or not you are satisfied with the company’s inventory management.
Your initial response should be a minimum of 200 words. Graduate school students learn to assess the perspectives of several scholars. Support your response with at least one scholarly and/or credible resource, in addition to the text.
BUS 627 Week 1 – Journal
Required Resource
Text
Porter, G., & Norton, C. (2018).
Using financial accounting information: The alternative to debits and credits
(10th ed.). Retrieved from https://www.cengage.com
· Chapter 1: Accounting as a Form of Communication
· Chapter 2: Financial Statements and the Annual Report
Recommended Resources
Book
Piper, M. (2010).
Accounting made simple: Accounting explained in 100 pages or less (Links to an external site.)
. Retrieved from https://www.academia.edu/35733742/Accounting_made_simple_pdf
· This book is a quick read and provides a brief simple introduction to the fundamentals of accounting, illustrating how to read the most important financial statements and draw a conclusion about the numbers. The book may be useful to you if you have little to no accounting background and need additional explanations of accounting in a simple manner beyond our required textbook. The book may be helpful in your overall understanding of accounting, which would aid in all the assignments this week.
Articles
Dennis , D., & Seery, A. (2016, December).
Annual reports: How to tell your story clearly
. Accountancy Ireland, 38(6), 40–42. Retrieved from https://www.charteredaccountants.ie/Accountancy-Ireland/Home
· The full-text version of this article is available through the ProQuest database in the Ashford University Library. This article discusses how a company should complete its annual report and gives an interesting perspective from the company’s side. This allows the potential investor to better understand the annual report, the advantages of preferred stock, and why this may make a wise investment choice. This article will expand your knowledge regarding the annual report and may assist you in your Reading and Using the Annual Report Case Study discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.
Jules, D., & Erskine, R. (2018, September 12).
The international code of ethics for professional accountants: Key areas of focus for SMEs and SMPs (Links to an external site.)
. International Federation of Accountants. Retrieved from https://www.ifac.org/global-knowledge-gateway/ethics/discussion/international-code-ethics-professional-accountants-key
· This article provides the new ethical codes established for international business. It offers an excellent perspective on the similarities and differences between the US and international ethical standards. This will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
Accessibility Statement does not exist.
Privacy Policy (Links to an external site.)
Lopez , K. J., & Perry, S. M., Ph.D. (2018).
The importance of virtue ethics and the role of salience in the accounting profession
. Southern Journal of Business and Ethics, 10, 86–96. Retrieved from https://salsb.wildapricot.org/sjbe
· The full-text version of this article is available through the ProQuest database in the Ashford University Library. This article provides a deep look at the importance of ethics in the accounting profession. The article covers why there may be conflict with ethics in the normal course of business for accountants. Additionally, the article concludes the importance of continuing education for certified public accountants (CPAs). The article will give you a deeper knowledge regarding ethics and may assist you with your Post Your Introduction discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.
Melé , D., Rosanas, J. M., & Fontrodona, J. (2017).
Ethics in finance and accounting: Editorial introduction
. Journal of Business Ethics, 140(4), 609–613. https://doi.org/10.1007/s10551-016-3328-y
· The full-text version of this article is available through the ProQuest database in the Ashford University Library. This article looks at efficiency versus ethics in both accounting and finance. The article discusses how to motivate employees to be more ethical, and draws conclusions between ethical rules and personal values, as well. This article will give you a deeper knowledge regarding ethics and may assist you with your Post Your Introduction discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.
Mintz , S. (2018).
Accounting in the public interest: An historical perspective on professional ethics
. CPA Journal, 88(3), 22. Retrieved from https://www.cpajournal.com/
· The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This is a very interesting article explaining the history of ethics in accounting and all the changes that have taken place. The article also provides a great overview and rationale of the Sarbanes-Oxley Act (SOX), and points out the inherent ethical issues embedded within an accountant’s role in business, and the obligation to follow the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct. The article will give you a deeper knowledge regarding ethics and may assist you with your Post Your Introduction discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.
Nathan, N. (2017, June).
Annual report can reveal the secrets a company wants to hide: Here’s how to uncover
. The Economic Times. Retrieved from https://economictimes.indiatimes.com/
· The full-text version of this article is available through the Business Insights: Global database in the Ashford University Library. This article provides additional insight, beyond your textbook, in reading and understanding a company’s annual report. The article gives tips on how to compare certain numbers to gain a better perspective and may assist you with your Reading and Using the Annual Report Case Study discussion forum this week.
Multimedia
Kloza, B. (Executive Producer), & Granberry, R. (Producer). (2014).
Accounting fundamentals
[Streaming video]. Retrieved from the Films On Demand database.
· The full version of this video is available through the Films On Demand database in the Ashford University Library. This is a four-part series on accounting fundamentals, which includes videos on the purpose of accounting, financial reporting, income statements, and balance sheets. These videos will aid the visual learner and reinforce concepts presented in your textbook, and they may assist you in your Week 1 Quiz and Week 1 CNow Homework Problems assignment this week. These videos have closed captioning and transcript.
Link Media. (2015, June 9).
How to read annual report (Links to an external site.)
[Video file]. Retrieved from https://youtu.be/0GTJ-NeFI3Q
· This video provides a basic yet comprehensive overview of financial statements and how to read them. This video will assist more visual learners and help reinforce the concepts in your textbook, and may assist you in your Reading and Using the Annual Report Case Study discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Web Page
U.S. Securities and Exchange Commission. (2007, February 5). Beginners’ guide to financial statement. Retrieved from https://www.sec.gov/reportspubs/investor-publications/investorpubsbegfinstmtguidehtm.html
· This web page goes deeper in the U.S. Securities and Exchange Commission website and provides a review on how to read an annual report, including financial statements, footnotes, and other parts. This is an excellent resource, which may assist you with your Reading and Understanding the Annual Report Case Study discussion this week.
Accessibility Statement (Links to an external site.)
Privacy Policy (Links to an external site.)
Websites
American Institute of Certified Public Accountants (Links to an external site.)
. (https://www.aicpa.org/)
· This website provides detailed information about the American Institute of Certified Public Accountants (AICPA). The AICPA is the professional organization of certified public accountants, overseeing the profession, setting ethical standards, and auditing standards for U.S. companies. This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
Financial Accounting Standards Board (Links to an external site.)
. (https://www.fasb.org/home)
· This website provides detailed information about the Financial Accounting Standards Board (FASB). FASB is an independent nonprofit organization that has the authority to set and interpret Generally Accepted Accounting Principles (GAAP). This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
International Accounting Standards Board (Links to an external site.)
. (https://www.iasplus.com/)
· This website provides detailed information about the International Accounting Standards Board (IASB). IASB has the authority to set and interpret International Financial Reporting Standards (IFRS). This website provides foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
Sarbanes-Oxley Act 2002 (Links to an external site.)
. (http://www.soxlaw.com/)
· This website provides detailed information about the Sarbanes-Oxley Act (SOX). SOX is the most important current piece of legislation to impact the accounting field. Congress passed the act in 2002 to bring reform and accountability to financial statement reporting. Enron and WorldCom, among other corporations, had huge accounting irregularities and fraud that brought about the need for this act. This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
U.S Securities and Exchange Commission (Links to an external site.)
. (https://www.sec.gov/)
· This website provides detailed information about the Securities and Exchange Commission (SEC). The SEC is a federal agency that enforces securities laws, and has the ultimate authority to determine the rules for preparing statements for companies whose stock is sold to the public. This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.
Instruction
Prior to beginning work on this journal,
· Read Chapters 1 and 2 in the course textbook, Using Financial Accounting Information: The Alternative to Debits and Credit.
· Review the
Balance Sheet Resource
and
Income Statement Resource
documents.
For this journal, complete a personal balance sheet and income statement. The
Balance Sheet Template
and
Income Statement Template
will help you get started. You may modify the line items as necessary in the templates. You may complete the templates using your own personal financial data, which will make the activity more meaningful, or you may use hypothetical numbers. Then, reflect on your completed Balance Sheet and Income Statement Templates. Discuss the most important concepts and facts you have learned.
Your reflection should be a minimum of 350 words. Submit both your completed templates and your reflection to Waypoint.
Income Statement
T
emplate
| The template allows you to input your monthly income and expenses and will calculate your net | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| income. The last column will show your yearly amounts. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Your Name | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Year-To-Date | Jan | Feb | Mar | Apr | May | June | July | August | Sept | Oct | Nov | Dec | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earned Income | $ 10.00 | $ – 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortage Payment | $ 5.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Credit Card Payment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Student Loan Payment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Auto Loan Payment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Utilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Groceries | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Entertainment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income |
Balance Sheet
A personal balance sheet is a statement of net worth and consists of three main parts:
Assets = What we own
Liabilities = What we owe
Net Worth = Assets – Liabilities
There are two different kinds of assets.
Current assets = Those we expect to use up within
a year or can easily be converted to cash within 12
months.
Long-term assets = Those that we expect to have
for over a year.
Many people think they don’t have many assets
because they think of these things as items like
cash, securities, vehicles, or a home. However, all
your clothes, jewelry, linens, dishes, pots and
pans, furniture, exercise equipment, hobby
components, and other personal belongings are
assets. It is important to insure all your assets.
Protecting what we own is one of the steps you
can take to move closer to financial
independence.
You can begin to build your balance sheet by
taking an inventory of your assets. Don’t forget to
include any 401K or IRA you have set up for
retirement in your assets.
There are also two different kinds of liabilities.
Current liabilities = Those we expect to pay the
balance on within 12 months.
Long term liabilities = Those we expect to pay the
balance on more than 12 months from
the balance sheet date.
Once you know your assets and liabilities you can calculate your net worth by subtracting liabilities from
assets.
Taking a physical inventory…
Take a few minutes and imagine you are
looking at one room in your home. Without
looking, can you make a complete listing of
what is in that room? Now how about the
garage, the basement, or the attic? Any idea
what items are in each of these locations? It
is essential to have a complete inventory of
the items in your home in order to be sure
you can be fairly compensated should you
have to report a casualty loss.
For insurance purposes many individuals are
now beginning to video the contents of each
room in their homes so they have a record of
all their assets in case of a loss.
Liquid assets explained…
Assets can have various states of liquidity.
The most liquid assets can be converted to
cash within 12 months or less, while the least
liquid assets would need a period longer than
12 months converted to be converted into
cash.
Here is a sample balance sheet for review.
ASSETS
Current Assets:
Cash $2,800 $10,000
Stocks $30,000 $15,000
$12,000
Total Current Assets $32,800 $37,000
Long Term Assets: $88,000
Auto $50,000
House $450,000 $88,000
401k $60,000
Savings $35,000
Total Long Term
Assets $595,000 $502,800
Total Assets $627,800
LIABILITIES
Current Liabilities
Credit Card
Auto Loan (due in 12 months)
Mortgage (due in 12 months)
Total Current Liabilities
Long Term Liabilities
Mortgage
Total L/T Liabilities
Owner’s Equity
Total Liabilities and Owner’s Equity $627,800
A Balance Sheet template has been provided for your use. Calculate your own net worth and see how it
stacks up to what you expected your equity to be at this point in your life. Is it what you expected?
Resources
Anderson, T. (2016, June 2). How to benchmark your net worth in 3 easy steps. Retrieved from
https://www.forbes.com/sites/tomanderson/2016/06/02/how-to-benchmark-your-net-worth/#
aefcf20e10f2
• A better way to measure wealth than just your investment portfolio performance is your net
worth, which is simply your assets minus your liabilities. This site aids you in calculating your
net worth.
Bankrate. (n.d.). Net worth calculator. Retrieved from https://www.bankrate.com/calculators/
smart-spending/personal-net-worth-calculator.aspx
• Net worth is the value of all assets, minus the total of all liabilities. Put another way, net
worth is what is owned minus what is owed. This net worth calculator helps determine your
net worth. It also estimates how your net worth could grow or decline over the next 10 years.
CNN Money. (n.d.) What are you worth? Retrieved from http://cgi.money.cnn.com/tools/networth/
networth.html
• This link takes you to a compact and easy to use online net worth calculator.
https://www.forbes.com/sites/tomanderson/2016/06/02/how-to-benchmark-your-net-worth/#2208f5e13435
https://www.bankrate.com/calculators/smart-spending/personal-net-worth-calculator.aspx
http://cgi.money.cnn.com/tools/networth/networth.html
Template Personal
Balance Sheet
| Your Name | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ASSETS | LIABILITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets: | Current Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash/Checking Account | Mortage (current portion) | (due in 12 months) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Savings Accounts | Car | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stocks | Student Loan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Credit Card | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Current Assets | $ – 0 | Total Current Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long Term Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long Term Assets: | Mortgage | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| House | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 401k | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bonds | Total Long-Term Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Long Term Assets | Owners Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Assets | Total Liabilities and Owners Equity |
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Formatting
Title Page
Citation
Outline
