Overview of AccountingOverview of AccountingRunning head: OVERVIEW OF ACCOUNTINGOverview of AccountingBrenda Anderson-ComierUniversity of PhoenixIntroduction to Finance and AccountingMBA/503Jacob MatthewsJan 8, 2007Overview of AccountingBrenda Comier, President of Comier & Comier, LLP, have been contracted to give an informational presentation to a group of small business owners (SBO) with no accounting or financial knowledge. The workshop is designed to help the small business owner understand and fulfill their accounting and finance responsibilities. This presentation will also give them an understanding that accounting involves the accumulation of historical information. Finance, on the other hand, involves analyzing the historical information and using it to plan and make future decisions. During the presentation, Brenda will identify the audiences, purposes, and natures of financial statements and managerial reports. Brenda will also explain the use of financial accounting information in making informed and ethical business decisions.
Financial Statements and Managerial ReportsFinancial Statements are summaries of monetary data about an enterprise. Brenda identified the audience of financial statements and managerial reports to be:
prospective investorsshareholdersBanksgovernment regulatorsmanagement,laborThe purpose of financial statements:To inform the audience of how the company performed.To show how much assets, liabilities, and equity it currently has.The nature of financial statements is the numerical compilation of categorical objective aspects of the organization.Managerial reports are different from the financial statements. Managerial reports:Objective analysis of finite categorical information used to evaluate adopted positions and to adjust those positions to better meet goals.The primary useInvalidate or validate assumptionsReduce financial risk.Management Reports can consist of:Comparative Balance SheetCash Flows,Statement of Changes in Financial Position, andStatement of Working CapitalBrenda explained to the SBO’s that a financial manager must understand the basic concepts of accounting in order to use the tools the accountants provide.
A Financial Report of New York
Financial Report of New York
New York has a unique, multistage economy of self-employment, self-expression, and entrepreneurialism – with a broad array of skills and opportunities, with hundreds of investment opportunities for new and emerging businesses, and with a broad range of opportunity to succeed in this increasingly complex business climate.
The New York Stock Exchange. The value of NYS futures contracts is estimated to be $721 billion, which reflects more than 40% growth of the private equity market, in the last three years.
Exchange Trading Program for the New York Stock Exchange
Exchange Trading Program. The purpose of Exchange trading is to engage the public in the use of the Nasdaq Stock Market, as an exchange, and to exchange derivatives and other instruments pursuant to the Exchange Act, a set of transactions that can include derivatives, hedging on financial products, derivative trades, and other financial instruments.
The Stakeholder Exchange Program. The purpose of Stakeholder Exchange Programs is to facilitate transactions with consumers, and a portion of the sale of new securities to customers at retail and online. The Stakeholder Exchange Program’s objective is to facilitate the acquisition, trading and investment by customers of new securities and their trading preferences.
Largest Market Ever: U.S. Treasury
Source: SBC