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Essay Available:
Pages:
2 pages/β‰ˆ550 words
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Check Instructions
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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Date:
Total cost:
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Topic:

Elements and purposes of financial statements

Essay Instructions:

Write a 500 - 750 word paper that addresses the following topic:
Explain the impact of accounting transactions in financial statements.
Describe the elements and purpose of each financial statement.
Discuss the components and use of financial analysis.
Your paper must be formatted according to APA 6th edition guidelines, and you need to use at least one external reference. Save your file as "LastnameFirstinitial-ACCT105-3."
Submit your work by midnight ET on Day 7 (Sunday).
Note that your attached paper will automatically be submitted to Turnitin, and an Originality Report should be sent back to the classroom within around 15 minutes. The Originality report does not actually recommend changes. It does point out where you may need to add a citation or quotation marks (if not already cited). Once you use it a few times, you will appreciate this tool, as it will assist you in improving quality and content, as well as avoid plagiarism. Your goal is to keep direct quotations to a minimum and to make sure that you do not just cut and paste material. Ensure that all your references are cited. A report with a similarity index less than 25% is acceptable for undergraduate level work.
Your paper will be evaluated according to the Writing Assignment Grading shown below. To maximize your grade, be sure to use the proper organization (intro, body, conclusion) and follow APA style. Your paper should have a title page and reference page, but you do not need an abstract for this assignment. See the PowerPoint presentation attached for APA assistance.
Guidelines
Writing Assignment Grading Criteria
Content (60%)
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Response demonstrates a clear understanding of the key elements of assignment questions.
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Response thoroughly covers the elements in a substantive manner.
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Response demonstrates critical thinking and analysis.
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Content is complete and accurate.
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Introduction and conclusion provide adequate information on the given topic.
Organization (20%)
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Paper structure is clear and easy to follow.
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Ideas flow in a logical sequence.
•
Introduction provides a sound introduction to the topic and previews major points.
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Paragraph transitions are logical and support the flow of thought throughout the paper.
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The conclusion thoroughly reviews the major points.
Writing Style, Grammar, APA Format (20%)
•
Sentences are well constructed, complete, clear, and concise.
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Words used are specific an unambiguous.
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The tone is appropriate to the content and assignment.
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Grammar, spelling, and punctuation are correct.
•
APA guidelines (6th edition) are followed, such as headers, citations, references, etc.
•
Effective use of aids such as sections, summaries, table of contents, indices, and appendices (if appropriate).

Essay Sample Content Preview:

Financial Statements
Name of Student
Institutional Affiliation
Impact of accounting transactions in financial statements.
Various transactions in accounting are vital in achieving the involved organization's objectives in ensuring accurate reports and records. To ensure accurate financial statements, every transaction should be reordered properly (McGraw-Hill Global Education Holdings, 2017). The transaction includes the payment, loans, sales, and any events in which services and goods are exchanged. Very accurate, a constructed financial statement allows various organizations to monitor their overall financial status, and health makes the decisions of the company more efficient. A financial statement is a basic tool that most investors use to decide whether they will invest in a certain organization or not since they can be able to predict their fate (Hermanson et al., 2011). The financial statement often shows a reflective index of different periods, timelines, or transactions. Financial statements that are accounted in wrong periods always results in a wrong prediction of their actual numbers.
 Elements and purpose of each financial statement.
There exist ten features of a financial statement. These include assets, liabilities, investments by owners, losses, profits, revenues, income, and distribution to owners, equity, and expenses. Assets are the items that are owned by the organization and are benefiting the organization economically (Investopedia. 2017). Liabilities of a company are the payments done by the company to cater for other entities to ensure normal operation of the company, e.g., the account payable. 
Equity is the residual interest that remains after deducting the total liabilities, e.g., shareholders' equity. The expenses of organizations are the cost related to the production of the products. The revenues are the rise in the assets from the sales of services and goods. 
Profit and losses are the increase or decrease in an entity's equity or transaction, respectively (Hermanson et al., 2011). For instance, if a company decides to sell an asset that is more than a book value, its profit, while the sales of the goods is less than the actual value, represents a loss. 
The owners of a certain organization's investments are always counted as an increase in assets and are always made in the form of cash (McGraw-Hill Global Education Holdings, 2017).
 Discuss the components and use of financial analysis.
The analysis of financial...
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