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Essay / Research Paper Abstract
This 3 page paper is written in two parts. The first part identifies and explains the 4 different statements which are found in audited annual accounts. The second part of the paper considers important actions that should be found in the office of a successful health organization, in the context of accounting functions. The bibliography cites 2 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TE4fistate.rtf
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Unformatted sample text from the term paper:
aimed at increasing the knowledge of the shareholders regarding the performance of their investment, as it is the shareholders that are deemed to be the primary users of the annual
report (Elliott and Elliott, 2008). Each of these different statements can be identified and briefly explained. First is the income statement, this is often referred to as the profit and
loss statement. It is one of the basic elements of the annual report as it demonstrates what income the organization is earning, and the level of costs which are being
incurred described in several different categories. For example, the total cost of the war materials for the cost of goods may be classified as simply "cost of goods". The statement
offers a broad overview on the operations the company, including various expenses, is able to provide historic data, and can be used to look at trends within the organization; usually
figures are provided for two tax years. The balance sheet is a statement that indicates the position of the company on the date the financial accounts were prepared, reporting the
assets and liabilities of the company, breaking them down into current and long-term, as well as reporting on the financing of the company in terms of the level of equity
belonging to the shareholders (Elliott and Elliott, 2008). The statement of retained earnings is exactly as it states, tip a statement which reports the level of retained earnings of
the company over the reporting period. The last statement is that of the cash flow, this report is the cash flow activities of the company, looking at cash inflows and
cash outflows from different sources, broken down by different types of activity, including the operating, financing and investing activities (Elliott and Elliott, 2008). Shareholders, and other interested parties, will utilize
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