Financial Statements Essay Example | Topics and Well Written Essays - 1000 words

Financial Statements - Essay Example Companies are required file their 10-K annual financial report to the Securities and Exchange Commission. The 10-K is filed within 60 days from the end of the company’s accounting period. The 10-K is the SEC’s standard blank form used by companies for submitting their financial reports. Interested parties can acquire the 10-K Securities and Exchange Commission reports for use in enhancing their investment or divestment decisions (Wild, Shaw, Chiappetta, 2011). Part II: The accounting equation is shown as: Assets = Liabilities + Capital. The assets represent all the resources of the company (Wild, Shaw, Chiappetta, 2011). Example: Assets = Liabilities + Capital $ 250,000 = $ 20,000 + $ 200,000 Assets = $50,000, Accts Receivable $ 50,000. Building $200,000. Liabilities = Accounts payable $ 5,000, Notes payable $ 15,000 Capital = Bush, Capital $ 230,000, Bush, drawing $ 30,000 The company owns the resources. Cash is one of the company’s assets (Wild, Shaw, Chiappett a, 2011). Cash includes the coins and paper money. Cash also includes the checks that are paid by the company’s customers. The assets include accounts receivable. Accounts receivable asset represents the amounts owed by the creditors. Sometimes companies sell their product on account. This means the company delivers their products to the customers. In turn, the customers promise to pay their debts after several days or months. The debt amount is recorded as accounts receivable in the company’s books of accounts. The inventory represents items that are being sold in the company’s stores. The inventory also includes unused office supplies, unused cleaning supplies, and other unused items that are owned by the company. The building...The debt amount is recorded as accounts receivable in the company’s books of accounts. The inventory represents items that are being sold in the company’s stores. The inventory also includes unused office supplies, unused cleaning supplies, and other unused items that are owned by the company. The building account is another company asset. Since the company owns the building, the building is included in the assets account. The office equipment is part of the company’s asset account. The office equipment includes the computers, typewriters, calculators, and adding machines. The company has some liabilities to pay (Wild, Shaw, Chiappetta, 2011). The liabilities represent what the company owes its creditors. Similarly, the suppliers may offer the company credit terms when the company buys goods from its suppliers. In exchange for purchased items, the company promises to pay its debts in a few days or months. When this occurs, the company records an accounts payable amount. Further, when company is required to sign a note promising that they will pay the debt within a few days or months, the company records a notes payable amount in its books of accounts. When the company applies or a ten year ba nk loan, the company records a long term loan amount.

Decision Making Assessment (Synthesis) Essay Example | Topics and Well Written Essays - 500 words

Decision Making Assessment (Synthesis) - Essay Example The study deals in focusing on the decision making concept with reference to U.S. Army Corps of Engineers. Frame is defined as â€Å"the structural core of the paradigmatic mental model that brings to a problem† (Johnson & Russo, 1994, p. 290). In simple terms decision making frames creates its own ideas and focuses on the environment. By ideas it is meant that the environmental issues should be considered that are affected by the decision (Johnson & Russo, 1994, p. 290). U.S. Army Corps of Engineers considers environmental sustainability as their key principle. The Corp team diligently works to strengthen the security of the nation by developing and preserving the infrastructure of America and offering military facilities (About us, n.d.). Any type of decision making is backed by reasoning. A bad decision comes from distortion and biases, which creates a series of mental flaws and obstructs the sense of reasoning. So before coming to any decision reasoning should be done properly (The Hidden Traps in Decision Making, n.d.). Behind any decision taken by the organization, the main reason is to â€Å"strengthen the security system, energize the economy and reduce the risks from disasters† (Mission & Vision, n.d.). For this reason a group of trained individual is continuously working to provide innovative and sustainable solutions (Mission & Vision, n.d.). Declarative knowledge in decision making gives importance to the ordering of attributes and relative desirability of various levels within the attributes that are required to implement the strategy. Thus the experience and expertise of a decision maker is bound to be affected by the declarative and procedural memory in following a plan (Goldstain & Weber, 1995, p.116). U.S. Army Corps of Engineers always transform the ways they do their business based on the Campaign Plan. A set of experienced, trained and certified workers, work as per