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Match the qualitative characteristics below with the following statements. 1.    Timeliness 2.    Completeness 3.    Free from error 4.    Understandability 5.    Faithful representation 6.    Relevance 7.    Neutrality 8.    Confirmatory value a.    Quality of information that assures users that information represents the economic phenomena that it purports to represent. b.    Information about an economic phenomenon that corrects past or present expectations based on previous evaluations. c.    The extent to which information is accurate in representing the economic substance of a transaction. d.    Includes all the information that is necessary for a faithful representation of the economic phenomena that it purports to represent. e.    Quality of information that allows users to comprehend its meaning.

Summarize the financial components included in the current assets and liabilities section of the Balance Sheet for the given company. Explain why the balance sheet is arranged the way it is. Determine if the same asset or liability can have both short-term and long-term components and provide your rationale. Explain how variances in data can be detected for current assets and liabilities using relevant tools. Justify why footnotes for current assets and liabilities are important in decision making for the company. Include the following details in your response: Explain why the balance sheet amounts alone are not sufficient in providing the information needed in decision making. Explain why FIFO is the best choice for this given company. Cite the applicable FASB codification section for the following items as a list: cash and cash equivalents, inventory, and receivables.

What type of analytics would encompass creating Key Performance Indicators (KPI’s) from the information reported in financial statements?    Multiple Choice Diagnostic analytics Predictive analytics Descriptive analytics Prescriptive analytics

Please explain why after answering.

Perform the Reperformance or Recalculation procedures to check the mathematical accuracy of the Balance Sheet. What issue did you find? What is the next step? Create a Corrected version of the Balance Sheet.

The following are all output reports of the financial reporting system, EXCEPT a. variance analysis report. b. statement of cash flows. c. tax return. d. comparative balance sheet.

Match the qualitative characteristics below with the following statements. 1.    Relevance 2.    Faithful representation 3.    Predictive value 4.    Confirmatory value 5.    Comparability 6.    Completeness 7.    Neutrality 8.    Timeliness a.    Quality of information that permits users to identify similarities in and differences between two sets of economic phenomena. b.    Having information available to users before it loses its capacity to influence decisions. c.    Information about an economic phenomenon that has value as an input to the processes used by capital providers to form their own expectations about the future. d.    Information that is capable of making a difference in the decisions of users in their capacity as capital providers. e.    Absence of bias intended to attain a predetermined result or to induce a particular behavior.

Ratios are an input into which step in the financial statement analysis framework? a. Collect input data b. Process data  c. Analyze/interpret the processed data

Match the ratio to the building block of financial statement analysis to which it best relates.A. Liquidity and efficiency B. Solvency C. Profitability D. Market prospects Accounts receivable turnover

“The financial perspective is the most important in a balanced scorecard.” Evaluate this statement. Provide as much detail/examples as possible.

The balanced scorecard measures a.only financial information b.only nonfinancial information c.external and internal information d.both financial and nonfinancial information

outline and describe the main components of income statement that analysts should consider in their analysis.

Match the ratio to the building block of financial statement analysis to which it best relates.A. Liquidity and efficiency B. Solvency C. Profitability D. Market prospects Gross margin ratio

When using the Spreadsheet (work sheet) method to analyze noncash accounts, it is best to start with Group of answer choices ​cash ​net income ​retained earnings ​revenue

Explain how to prepare multi-step income statement.