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Financial Reporting Essay

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Below is an essay on "Financial Reporting" from Anti Essays, your source for research papers, essays, and term paper examples.

Financial Reporting refers to the periodic production of a business’ financial statements.   These financial statements include the balance sheet and income statement.   The balance sheet shows a moment in time snapshot of a company’s financial health.   By analyzing the balance sheet we can assess if a company can take on additional debt or is it already overextended.   In addition, the balance sheet is a decisive statement utilized when trying to determine if a business can meet its current obligations with cash and other current assets that can be converted to cash.   The income statement measures company performance in terms of sales and profitability over a specific period of time.   An analysis of the income statement can quantify if a business has maintained or improved its sales and profit margins compared to previous years.   If the analysis yields negative sales results, the income statement can be used to determine what has caused the decline.   These financial statements are prepared using the Generally Accepted Accounting Principals (GAAP) and contain specific revenue and expense categories regardless of the nature of the company.
NIKE Inc. is engaged in design, development and marketing of footwear apparel, equipment and accessory products.   NIKE is a worldwide seller of athletic footwear and athletic apparel.   The company sells its products to retail accounts, through Nike owned retail stores, Internet sales, and through a mix of independent distributors and licensees in over 170 countries around the world.   NIKE’s athletic footwear products are designed primarily for specific athletic use.   It also markets footwear designed for baseball, cheerleading, football, golf, lacrosse, outdoor activities, skateboarding, tennis, volleyball, walking, wrestling, and other athletic and recreational uses.   The company sells sports apparel and accessories, as well as athletic bags and accessory items.   It also markets apparel with licensed college and professional team...

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Financial Reporting. Anti Essays. Retrieved November 13, 2018, from the World Wide Web: https://www.antiessays.com/free-essays/Financial-Reporting-474770.html