Week 1 An Overview of Financial Statements and the Environment of Financial Reporting Discussion Details of Financial Statements and Ratios graded In this thread we will talk about the primary financial statements published by a corporation the various classifications used in a balance sheet the relationships among different financial statements and how the numbers from the different financial statements are analyzed together to evaluate the financial position and performance of a company The information being discussed here will be found partly in Chapter 1 and mostly in Chapter 2 In order to keep our discussion organized we will go according to the following plan 1 Balance Sheet We will begin with this statement 2 Income Statement We will begin this discussion on Wednesday morning 3 Statement of Retained Earnings We will begin this discussion on Thursday night 4 Statement of Cash Flows We will begin this discussion on Friday night 5 Earnings Per Share Current Ratio and Debt to Total Assets We will begin this discussion on Saturday night Let s begin by asking the question What is the purpose of a Balance Sheet What information does it provide Responses Responses are listed below in the following order response author and the date and time the response is posted Response Date Time Author T O C L A S S w el co m e Class Welcome to threaded discussion for week 1 To get started please consider the following In this thread we will talk about the primary financial statements published by a corporation the various classifications used in a balance sheet the relationships among different financial statements and how the numbers from the different financial statements are analyzed together to evaluate the financial position and performance of a company The information being discussed here will be found partly in Chapter 1 and mostly in Chapter 2 In order to keep our discussion organized we will go according to the following plan 1 Balance Sheet We will begin with this statement 2 Income Statement We will begin this discussion on Wednesday morning 3 Statement of Retained Earnings We will begin this discussion on Thursday night 4 Statement of Cash Flows We will begin this discussion on Friday night 5 Earnings Per Share Current Ratio and Debt to Total Assets We will begin this discussion on Saturday night Let s begin by asking the question What is the purpose of a Balance Sheet What information does it provide Prof Wilson Darnell Flax 3 3 2013 8 11 33 PM R E T O C L A S S w el c o m e to g r a d e d th re a d e d di sc u ss io n s fo r w ee k 1 As far as balance sheet it is one of the four financial statements used it shows the financial stance of the business over a period of time no matter what Assets Liability Equity Kaswelda Carter 3 3 2013 9 06 51 PM RE TO CLASS welcome to graded threaded discussions for week 1 The balance sheet for a company shows where the company stands financially on a certain date The date is important because it the most current balance for the company Also the balance sheet will have information such as how much money is paid out to people the amount of money supplies is spent on how much money is coming into the company and stock holder information and liability The balance sheet is very important information sheet that is shared with the owners investors that gives them a clear understanding of what is going on financially in the company Marina Massoud 3 4 2013 7 49 48 PM R E T O C L A S S w el c o m e to g r a d e d th re a d e d di sc u ss io n s fo r w ee k 1 Modified 3 4 2013 7 50 PM Hi Class According to the text a Balance Sheet is where you can find a company s financial information on a specific time date It lists what the company owes liability owns asset and the owners equity It follows the equation Assets Liabilities Owners Equity Kimmel P D Kieso D E Weygandt J J 2011 Financial accounting tools for business decision making 6th ed Hoboken New Jersey John C Wiley Sons Inc Justin Noel 3 4 2013 9 08 57 PM RE TO CLASS welcome to graded threaded discussions for week 1 Modified 3 4 2013 9 17 PM The balance sheet reports assets and claims to assets at a specific point in time or to put it more simply it shows what is going on at all times It shows who owes what the when the where and the why Ok maybe not the why but the nice thing about it is that it shows for the most part who owes you and who you owe so it really gives you a idea of where you are at This means that if you are setting in debt that you know it because it factors in all or the in s and out s of the business Timothy Fry 3 10 2013 10 27 43 PM R E T O C L A S S w el c o m e t o g r a d e d t h r e a d e d d is c u ss io n s f o r w e e k 1 Justin the balance sheet does not give the entire picture of the condition of a business but helps determine some of the financial risks involved particularly to investors The more highly a company is leveraged the greater the risk also high leverage can help to multiply gains or income if things are going well for the business RE TO CLASS welcome to graded threaded discussions for week 1 Hello Class Stacy Davis Green 3 4 2013 10 02 07 PM According to the overview of the weekly lecture A Balance Sheet reports and show creditors and investors where their company financially stand at a specific time It provides the financial status by detailing the assets liabilities and equity within a specific time In the Balance Sheet the information will point out and show what is owed plus the residual interest will equal to what the company owns Makiko Kishida 3 5 2013 12 14 09 PM R E T O C L A S S w el c o m e to g r a d e d th re a d e d di sc u ss io n s fo r w Hello The Balance Sheet is one of the financial statements we generate in accounting It shows all the assets and liabilities of an entity on a certain date According to the text the balance sheet is a financial statement that reports the assets and claims to those assets at a specific point in time pg 13 Financial Accounting 6E by Kimmel Weygandt and Kieso The part that says claims to those assets was I thought …
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