applied managerial accouting
MUST BE IN THIS FORMAT
Phase 1 Task 2;
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For this assignment the student is to write a memo that ; discusses the information found in each of the following financial statements: ; Balance sheet, Income statement, Statement of cash flows, and the Statement of stockholders’ equity. ; The student is also discussing how that information is used for planning and control of the company.
Format:
I. ; Part 1 – ; Give an overview of what is going to be discussed in the memo
II. ; Part II: Heading ; – Information Found on the Financial Statements
a. ; Income Statement ; – Define and Explain
b. ; Balance Sheet – Define and Explain
c. ; Statement of Stockholders Equity – Define and Explain
d. ; Statement of Cashflows – Define and Explain
III. ; Part III ; Heading – How Accounting Information is Used
a. ; According to the text, accounting information is used for (1) planning, ; (2) controlling and (3) directing and motivating. ; Explain each of these terms and give an example of each.
b. ; Format –
; i. ; Planning
1. ; Definition
2. ; Example
3. ; Explanation of how the financial statements ; and/or the nonfinancial measures assist with this objective
; ii. ; Controlling
1. ; Definition
2. ; Example
3. ; Explanation of how the financial statements ; and/or the nonfinancial measures assist with this objective
; iii. ; Directing and Motivating
1. ; Definition
2. ; Example
3. ; Explanation of how the financial statements ; and/or the nonfinancial measures assist with this objective
IV. ; Conclusion
V. ; References