Basic Financial Statements TACC

You will describe elements of the accounting environment and prepare an income statement, balance sheet, and statement of retained earnings.

Introduction

Basic Financial Statements TACC Help

Imagine you are trying to grow your business by attracting investors, clients, or securing a loan. You’ll need to tell a compelling story that demonstrates your understanding of business finance and the language it speaks—the language of accountants. Accounting is often called the language of business, and rightfully so, because effective business organizations set up an accounting information system to communicate data to help internal and external stakeholders make better decisions. Reporting the results of an organization’s business transactions to these stakeholders requires the preparation of financial reports such as a balance sheet (statement of financial position), retained earnings, and the income statements. Accurate preparations of these statements require essential accounting knowledge and skills. Basic Financial Statements TACC Help

Overview

In this assessment, you are required to:

• Answer questions designed to test your knowledge of the basic accounting environment.
• Prepare income, balance, and retained earnings statements.

Consider the following two, completely separate economies.  The expected return and volatility of all stocks in both economies are the same. Basic Financial Statements TACC Help

In the first economy, all stocks move together in good times all prices rise together and in bad times, they all fall together. 

In the second economy, stock returns are independent-one stock increasing in price has no effect on the prices of other stocks. 

Which economy would you choose to invest in? 

Explain your rationale for your choice. 

Discussion Instructions: Basic Financial Statements TACC Help

Discussion posts should be answered with Fundamental Financial merits along with your experiences and opinions.  Please share your experiences and opinions-we will all benefit if you do!  Thank you.  

The primary thread must have a minimum of 200 words. Your Secondary posts must have a minimum of 100 words.

Please put your name into the subject line. 

Provide References.

Please post your initial response on or before Thursday at 23:59 EST. Provide comments on 1 of your classmates’ posts on or before Sunday at 23:59 EST. 

If you have any questions, please review the instructions for the discussion board as outlined in the syllabus.

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