Check Point Week 1 - Assessing Financial Statements ACC/230...

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Assessing Financial Statements ACC/230 June 15, 2012 Chris Fountain
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Quantum Corporation financial statements for 2010 thru 2012 have values and show what was done financially. One weakness that I see is the lack of percentages to show how much the company has gained or lost. Another weakness that I see in financial statements is the clarification of the financial position of the company. Comparing the numbers from year to year shows that some of their debts have increased while their profit has decreased due to the economy. The financial statements show a net allowance for the accounts receivables that is respectively low, the company has been able to clear up some of their accounts receivables. The net income loss per share has gone from .02 cents to a negative .04 cents per share which is not a good thing for the company.
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Unformatted text preview: The financial statements for Quantum Corp. for the years of 2010 thru 2012 show a slight decline in assets along with their profit over the past couple of years. Their current assets have decreased and their long term assets have increased. The company’s debts have also increased currently while the long term debt has decreased. They have provided information on some of their financial issues one being a part of a lawsuit in which they are not able to disclose any legal damages. The company does not state what they are going to do with the negative trends that are shown in their financial statements. The company does show some improvements in clearing up some of their debts, but with a decrease in profit it will be slightly harder to pay down some of the debts....
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  • Summer '12
  • UNK
  • Accounting, Generally Accepted Accounting Principles, Quantum Corp., Chris Fountain

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