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BU1902 Final: Accounting for Decision Making Final Exam Notes & Study Guide

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olivecaribou938
30 Jul 2018
School
James Cook University
Department
BU
Course
BU1902
Professor
All

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Document Summary

Week 1: financial statements and business decisions/investing and financing decisions and the statement of financial position 4. Responsibilities for the accounting communication process 7. Investing and financing decisions and the statement of financial position 8. Elements of the statement of financial position 8. Week 2: operating decisions and the statement of comprehensive income. Elements on the statement of comprehensive income: 14. Week 3: adjustments, financial statements and the quality of earnings 20. Week 4: reporting and interpreting sales revenue, receivables and cash . Week 5: reporting and interpreting cost of goods sold and inventory 35. Nature of inventory and cost of goods sold 35. Lecture 6: recognition and valuation issues: assets 41. Lecture 7: reporting and interpreting liabilities and owners" equity 50. Lecture 9: understanding the statement of cash flows 61. Lecture 9: introduction to management accounting 73. Lecture 10: cost volume profit analysis 77. Cost classification and concepts in decision making 78.

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Related Questions

Statement of Changes in Financial Position

A. From the perspective of an investor, determine whether or notyou would invest in Target Corporation based onthe company's statement of changes in financial position (SCFP).Support your opinion.

B. Review Target Corporation's SCFP for any concerns that mayneed to be addressed. As controller of Target Corporation, preparea memo to your CEO, giving a summary report for possiblerecommendations.

Cash flow statement

Period Ending

1/28/2017

1/30/2016

Cash Flow Statement

Net Income

$2,737,000

$3,363,000

Cash Flow-Operating Activities

Depreciation

$2,298,000

$2,213,000

Net Income Adjustments

$508,000

($812,000)

Changes in Operating Activities

Accounts Receivable

$0

$0

Changes in Inventories

$293,000

($316,000)

Other Operating Activities

$36,000

$227,000

Liabilities

($543,000)

$579,000

Net Cash Flow-Operating

$5,436,000

$5,958,000

Cash flows-Investing Activities

Capital Expenditures

($1,547,000)

($1,438,000)

Investments

$28,000

$24,000

Other Investing Activities

$46,000

$1,922,000

Net Cash Flows-Investing

($1,473,000)

$508,000

Cash Flows-Financing Activities

Sale and Purchase of Stock

($3,485,000)

($3,183,000)

Net Borrowings

($664,000)

($85,000)

Other Financing Activities

$0

$0

Net Cash Flows-Financing

($5,497,000)

($4,630,000)

Effect of Exchange Rate

$0

$0

Net Cash Flow

($1,534,000)

$1,836,000

Financial Ratios

Liquidity Ratios

Current Ratio

94%

112%

Quick Ratio

29%

44%

Cash Ratio

20%

32%

Profitability Ratio

Gross Margin

30%

30%

Operating Margin

7%

7%

Pre-Tax Margin

6%

7%

Profit Margin

4%

5%

(www.nasdaq.com)

Please I need some one who can help me we this to be answer allquestion as is required on this is for my term project. thankyou.

you were asked to research on a specific Health ServicesOrganization. Hint: Since you will be explainingthe financial statements, do not pick an organization withcomplicated financial statements. It might also be helpful to readthe Notes to the Financial Statements.

1. Go on the internet and choose a specifichealth services organization and research its financialstatements.

2. Describe the components of your health servicesorganization's Income Statement.

3. Describe the organization and contents of theBalance Sheet.

4. Describe the contents of the Statement of CashFlows and the way it differs from the Income Statement.

5. Attach a copy of the financial statement so that your peerscan view it.

6. Post your discussion with the appropriate reference(s).

the one I pick is Mayo clinic

answer as it pertains to the Mayo Clinic Health System.

Go on the internet and choose a specific health servicesorganization (Mayo Clinic Health System) and research its financialstatements.

Describe the organization and contents of the Balance Sheet.

Describe the contents of the Statement of Cash Flows and the wayit differs from the Income Statement.

QUESTION 2 (25 Marks: 45 minutes)

2.1 Answer the following questions:

a) Define current liabilities (2 marks)

b) Define current assets (2 marks)

c) In which sequence should notes to the financial statements be presented? (2 marks)

d) Discuss the identification of financial statements as noted in IAS 1. (2 marks)

e) Discuss consistency of presentation as a general feature of financial statements. (2 marks)

f) Discuss materiality and aggregation as a general feature of financial statements.(2 marks)

2.2 You are provided with the following statement of financial position of Brabham Limited:

Statement of financial position ON 31 December 20.12

ASSETS Land and buildings 165

Vehicle 85

Furniture’s 45

Share Capital (2 000 000 authorised NPV shares) 125

Cash on hand (cash float) 5

Bank overdraft (2)

Inventory 26

Trade and other debtors 15

Shareholders for dividends 11

Total assets 475

Equity and liabilities

Retained earnings 305

Trade and other creditors 110

Long term loans 79

Accumulated depreciation 21

Income tax expense 30

Total equity and liabilities 515

Required 1. Critically evaluate the presentation of the above statement according to the requirement of IAS 1. (13 marks)