Accounting Paper

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Celivic Delgado-Rivera Accounting System Paper McBride Financial Services Jeffrey Mc Donough Instructor In the following paragraphs it will be discussed, the most recent profit and loss statement for the virtual organization McBride Financial Services. The most important elements as well as their value and what their value means for the company will be discussed in detail. When looking at the McBride intranet site it seems like they have a detailed site and one that they want to see go a long way. They have a really good mission statement, which states that they offer low cost mortgage services. They also have company goals and a business philosophy that they share on their website. They provide many financial services for their customers such as a credit report, mortgage, inspection and appraisal for a fixed price. They have an online easy application feature for their customers to make the process of the application easier. McBride also has a detailed marketing plan to follow such as promotion and promotional budget. When taking a look at the McBride financial Services sales and expenses report, the company has suffered many losses, they actually have more losses than they do profits. In months one through six they did not make any profits, these were all losses for the company. Month one shows a total loss of $42,692 and month six shows a total loss of $9,242. These are major losses that are accruing at this company. Months seven through twelve show the profits made at the company, month seven shows a total profit of $5,758 and month twelve shows a total profit of $35,758 which is a pretty good profit. At the end of the twelve months the business had a total loss of $26,850, leaving the company in the negative and over budget. McBride Financial services offer a summary profit and loss report which provides a detailed account of the

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