ACCTAssignhardic - inventory to help increase possible...

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Financial Statements Assignment 1 Lachele Hardic Dr. Roderick Hogan Accounting 557 Financial Accounting 11/30/11
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Income Statements are imperative not only to investors but also to top management, the balance sheet lays out the company’s Assets, liabilities and stockholders’ equity. The Income sheet lays out the expenses and revenues. These two important documents help the company and outsiders to understand the company’s current financial positions. I want to own my own store in the near future, as a business owner I would want to study my income statement in order to see how my expense line up against my revenues. If my expenses are too high then I will need to reassess my debt and plan for how to increase my revenues or decrease my debt or both. A business manager can use this to project future earnings and adjust marketing and
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Unformatted text preview: inventory to help increase possible sales and adjust wages. It would also help to show whether the current strategy is a good fit for their company. I am currently looking for a job in management. My understanding of balance sheets and income statements will help me to run the store where I’m hired and impress those over me if ask to assist on projects than are focused on management strategy. The understanding of these statements is pertinent to any manager. Top managers and CFO’s must keep track of the finances within the company and try to keep the books straight with no false information. Lack of ethics in the accounting system can cause a major down turn in the company....
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