Learning Team Reflection Week 4

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Learning Team Reflection Denise Collins, Frances Harper, Kazumi Edwards, Karen Schmitt, Falon Garcia ACC/291 August 19, 2012 Linda Gandy Learning Team Reflection Week four has been a learning experience for the entire team and we have all taken a little something different from this week. We are one week away from the final week of this class and it has gone by quickly and at a glance. There has been much information to hang onto that will help us in our future and in the current positions that we each hold. Each of us has had something in particular that has been impressed upon us this week, and it has been great to share those thoughts with each other. Mainly, however this week we have focused on the statement of cash flows and its importance. We have also learned about ratio, vertical and horizontal analysis of financial statements, and journal entries associated with the issuance of preferred and common stocks with the declarations and payment of dividends. The statement of cash flows uses both direct and indirect methods; the direct method which is easier to create and the indirect method which is more difficult. This week has taught us the difference between the financial statements and who benefits the most from the statement of cash flows, and that it is an important addition to the balance sheet and income statement. The statement of cash flows provides current information on the condition of a company during a specific time, representing the information required for all annual reports for external users such as banks, and investors. Statement of cash flows also reflects changes to the balance sheet, cash, and cash equivalents, and is concerned mostly with the flow of cash in and out. This statement is a great tool for external users to analyze the financial position of a company, and whether or not they would be a good investment, a
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