Jihoobae posted a question
The Chief Financial Officer (CFO) for XYZ Construction Inc. has been promoted to the newly created position of Vice President of Overseas Operations. The CFO’s absence leaves a void in the knowledge base of the owners’ group regarding several key financial and accounting principles. The owners need you to create a document for them that will help explain several key concepts and principles associated with financial management, accounting, internal control, cash management, and Sarbanes-Oxley regulations. For this third assignment, your requirement is to create a response in the form of a memo for business finance and accounting. The only required references for this assignment are the chapters included within the e-book, which contain all the information you need to complete this assignment. You may re-create the examples from the textbooks using your own generic data. Your instructor will assign you a group of terms; for each term, you need to provide a definition and a relevant business example for the items in your group. Contact your course Mentor via the Compass Messaging System to obtain your Group assignment. Group #1: 1. Balance Sheet 2. Income Statement 3. Operating Cash Flows 4. Statement of Retained Earnings 5. Net Working Capital Group #2: 1. Economic Value Added 2. Fixed Assets Turnover Ratio 3. Net Profit Margin 4. Sales Forecast 5. Breakeven Analysis Group #3: 1. Financial Leverage 2. Double-Entry Accounting System 3. Ledger 4. Liabilities 5. T Account Group #4: 1. Balance of the Account 2. Sarbanes-Oxley Act of 2002 3. Cash Equivalents 4. Petty Cash Fund 5. Voucher