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BSA 310 WEEK 3 DQS fin571

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This 0 page Study Guide was uploaded by an elite notetaker on Wednesday November 11, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 20 views.


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Date Created: 11/11/15
Based on Shultz s 2006 article describe the three financial statements used by businesses and What each is designed to report Are you aware of these reports being used in your business The balance sheet is a representation of a company s financial standing Company assets liabilities and equity are represented rm the hnlnnr e heet Organizations can compare company trends by monitoring the balance sheet over specific periods of time The greatest advantage of the balance sheet is the re ection of available cash and company assets on hand at any given date The profit and loss statement PampL allows organizations to review revenue company expenses and the amount of profit or loss incurred over a specific time period The statement is a valuable tool for predicating an organizations ability to generate profit and illillilllilic cost PampL statements can isolate specific aieas of business to analyze success or failure of products services and clientele Cash ow statements report have cash enters and leaves a company Most often three basic components are analyzed by a cash ow statement operations investments and financing Companies use cash ow statements to predicate future cash ow Which contributes to budgeting and financial health During recent meeting that discussed our company s position in the current economic state the CEO regularly refer to our company s balance sheet He indicated that our balance sheet was strong and the company had more money that debt I have not heard of been involved in any situation discussing the PampL statement or cash ow statement Based on Mohamed s 2007 article identify three commonly used accounting packages used by small and midsized businesses List one advantage Inuit Quickbooks of each package Quickbooks provides accounting needs to small businesses with simple to use software Quickbooks 2006 claims no previous accounting e operate the software Pegasus Opera 11 Used by close to 20000 organizations Pegasus offer which allows organizations to submit end of year forms to tl payroll functions are performed automatically Integration 0 through a Windows interface Xperience is needed to s Online Filing Manager 1e government Many of the fthe software is made simply Symmetry Bluqube Symmetry Bluqube is a browsersbased system that can offer lower setup cost and predictable charges The system is completely webbase d and designed for non eXperienced accounting professional System boost and increase level of reporting for investors and finance professionals Bluqube is a full integration system which allows companies to generate more detailed reports and easily enter information


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