P5; The Trading Account; The trading account is an account that shows profits and losses for a business. There are three parts to the trading account, the first one is sales turnover and this is the money that is coming into the business by trading. The formula for sales turnover is quantity sold x the selling price. According to business alpha the sales turnover for this business is 3,057,000. The second component is the cost of sales which includes the costs directly linked to providing the trade.
Ch. 23: Exercises 23.10 & 23.12 of Managerial Accounting: The Basis for Business Decisions ACC 400 Week 4 Team Assignment – Interpreting Financial Statements Report The CEO of your organization has asked your Learning Team to analyze the two companies assigned to your particular Learning Team. As an investment, your organization may be interested in purchasing some stock in one of these two companies. Resources: The financial statements for your Learning Team’s assigned two Companies found in the Course Materials Forum. Financial Accounting: Tools for Business Decision Making.
Income statement, or profit-and-loss statement, measures flows of costs, revenue, and profits over a defined period of time. It allows you to judge whether the company is spending too much on particular expenses, and to see whether they are turning a profit for a specific time of period. To complete the general view of financial state of the company, it is better to accompany the study of income statement with balance sheet. The balance sheet provides a snapshot of business investment and financing at a particular point of time. Both statements combine to provide a rich picture of a business’ financial performance.
In this task, I will be describing how political, legal and social factors are impacting upon the selected business activities. The two businesses which I have chosen are, Oxfam and also Tesco. Political factors for Tesco Taxation Large business such as Tesco is largely affected by the government taxes, such as income taxes and business rates. Tesco is a large business which means that a lot of corporation tax taken away from their profits. Corporation Tax is a tax on the taxable profits of limited companies and other organisations.
e) What is the company’s operating income for the current year? f) What is the company’s EBITDA for the current year? g) What is the company’s net income/earnings (final profit or loss) for the current year? h) What are the company’s earnings per share (basic and diluted) for the current year? (notes) i) What is the actual name used by the company to identify this particular document?
Employers favor defined contribution plans. Defined contribution plans are 401k plans, profit sharing, stock bonus plans, employee stock ownership plans, savings incentive match plan, section 403(b) tax deferred annuities, and section 457 plans. Contributions are expressed as a percentage of an employee’s wage or salary. Employers contribute a percentage of each participant’s compensation annually. Employers can choose from a variety of investments such as company stocks, diversity stock market funds, or federal government bond funds.
This ratio determines the rate and ability in which the company is able to pay its debts off. For Huffman Trucking the calculation would look like this for 2011: $94,520/$466 = 202.83 (Huffman Trucking, 2013). Liabilities and Shareholders' Equity Current Liabilities Accounts Payable $40,843 $45,381 Salaries & Wages 37,299
The Four Financial Statements Merced Villalobos ACC/290 January 11, 2012 Eleazar Pando The Four Financial Statements There are four basic financial statements. The first statement is an income statement that shows the companies’ revenues and expenses. The second statement is a retained earnings statement that shows the amount and causes of changes of retained earnings in a given period of time. The third statement is a balance sheet that shows what the business owns and what it owes. The fourth is a cash flow statement that shows where the business got earnings in a period of time and where that money was used.
A corporation can exist for a limited time or as long as there is a board to carry on business on a continuous basis. The C-Corporation the stockholders are responsible for the day to day operations of the business. The stockholders are the employees, officer and directors of the board. Profits are utilized to pay bonuses to board members and are issued as dividends to the shareholders. Bonuses must be accounted for and properly publicized to shareholders.
Task1 Using your business, describe how the changes in the current economic climate will affect how your business operates. For this assignment I have decided to use John Lewis as my business. The John Lewis Partnership's 69,000 Partners own the leading UK retail businesses. This means that profits and benefits created by their success are shared by all our Partners. The weekly sales figures in 2007-08 is 3.3% in 2006-07 was9.1 By looking at the sale figures I can say that economic climate is affecting my business.