Get help for Trident University ACC 201 Homework Help . Below, find the trial balance for Nybrostrand Company. Prepare an income statement and balance sheet, in good format, based on Formats of Financial Statements (Presentations). After you have completed the two statements, comment on the success of the company. Support your answer with information from the financial statements you just prepared. The financial statements are the representation of management. How can investors and other third parties trust this information? Discuss the CPA’s role as an external auditor. Do research on the Internet and show the reference for the information. Don’t forget to also respond to a colleague’s posts. Professor’s Note: In addition to searching the Internet for text related to this discussion, please watch the following videos (click on the following link to access these videos) and post your comments. 3rVmbGfhaps Basic Accounting: What Are Generally Accepted Auditing Standards? There are two main parts to this Case that require you to prepare and submit a 3- to 5-page paper.
Please make sure this paper is well organized and covers all of the items below. • Why is revenue recognition a significant issue? How do we determine when revenues are recorded for accounting purposes? • Explain the difference between a product and period expense. • Discuss the matching concept as it relates to accounting for revenues and inventory. Clearly identify the companies, the time period, and include the link to the financial statements you are analyzing in your report. • What accounting conventions do the two companies follow, US GAAP or IFRS? • Locate the income statement for the past two years for both companies. Prepare a table comparing five items or more from each statement. • Comment on the changes from one year to another. Is the company doing better or worse? Did revenues and expenses increase or decrease? Is it easy to discern trends or compare the information from year to year and between the two companies? Please, comment on both aspects and show some examples. We are using the same company as in the first Module. However, you need to consider some additional information. 42,500 worth of products, so the bookkeeper recorded the transaction. However, the client has not actually committed to the purchase. • The bookkeeper already corrected the sales account. However, the bookkeeper may have made a mistake when computing cost of goods sold. 42,500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical count.
I usually vote Republican, but I think Barack Obama is a good man who really wanted to do the right thing. I liked President Bush because he did not take himself too seriously and I think he also wanted to do the right thing. However, I’m not sure either of them has made the best decisions on the economy, the wars, or our national deficit. Choosing between Donald Trump and Hillary Clinton? That is another can of worms altogether. I had to think back. Did I attend 4th of July celebrations as a kid? Mostly, I didn’t. We did have fireworks, but because of the fire hazard in the California county where I grew up, we spent most of the celebration wondering how many fire trucks would be required to put out the fires. However, when I was 17, my family was vacationing in Deer Isle Maine on the 4th of July.
We were delighted to watch a “real” 4th of July parade there, complete with an antique fire truck, decorated bikes and babies with flags. It seemed a magical moment with a kind of simple national pride I didn’t remember experiencing when I grew up. My family talked about that fifteen-minute parade for years afterwards as one of the highlights of that vacation. When I got married, we moved to Florida and celebrated our first 4th of July with people in my husband’s lab, most of whom were scientists from other countries. It was July 4, 1994, so it wasn’t too long after the fall of the Berlin Wall and the end of the Cold War. The Russian scientist and his family that came to our 4th of July were some of the first Russians I had ever met. Because we’d never had the opportunity to have sparklers in California, we bought some, which seemed like wonderful forbidden fun.
A year later, we moved to Texas, which has offered a whole new experience in patriotism. Everything is bigger in Texas, and that includes the 4th of July. In fact, the first year we were here, we attended the church of a neighbor on the 4th and were shocked by the music minister wearing a flag shirt and leading the congregation in a number of patriotic tunes. No one in any California church we’d attended had ever sung “The Star-Spangled Banner” in church! We concluded this Texas church wasn’t very God-centered That is, until the next patriotic holiday, when we experienced the honoring of veterans and singing of even more patriotic songs at another church. We finally realized that everyone in Texas takes “God and Country” seriously, and literally. They pray, “God bless America” and mean it. They want God to bless America and not just with material prosperity. They want God to bless America and its leaders with the wisdom we need to do right in the world, especially when doing right is hard to figure out.