China Outfitters Holdings Limited Income Statement and Balance Sheet
“Accounting does not make corporate earnings or balance sheets more volatile. Accounting just increases the transparency of volatilty in earnings.” Diane Garnick
What I saw as a challenge and how I was able to do to solve my misgivings?
This step was quite interesting as when using my firm’s statements. Instead of being straight forward and be able to find the Income Statement and balance sheet. As I wasn’t sure what to use, I emailed Martin Turner for advice on which to use and was advised to use both the Consolidated Statement of Profit or Loss and the Consolidated Statement of Comprehensive Income for the Income Statement and use the Consolidated Statement of Financial Position for the Balance Sheet.
The one area which I needed to touch up on was how to lay out the Income Statement and Balance Sheet correctly I used the video to refresh my skills. Also, during the first few weeks have used the Excel Crash Course to revise the skills that I had problems with. This has been a very valuable resource to use. Following up on old skills and developing new ways of looking at statements helped with inputting the data into the spreadsheets.
ACCT13017 - Financial Statement Analysis 