You will assume the role of a financial accountant responsible for preparing for a year-end audit. In addition, management would like a report
You will assume the role of a financial accountant responsible for preparing for a year-end audit. In addition, management would like a report of where the company stands currently, and how it stands in relation to meeting future goals for growth. To complete this project, review the Final Project Scenario document and use the accompanying workbook. Specifically, you must address the critical elements listed below. Most of the critical elements align with a particular course competency (shown in brackets).
I. Accounting Workbook: Your accounting workbook must include appropriate calculations, ratios, and notes. Be sure to complete all tabs in the
spreadsheet.
A. Create adjusting entries for financial statement preparation. [ACC-308-03]
B. Create an adjusted trial balance for financial statement preparation. [ACC-308-03]
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C. Prepare financial statements for determining the company’s financial position. [ACC-308-03]
D. Calculate ratios for determining the company’s financial health. [ACC-308-03]
E. Create pro forma financial statements for predicting ability to meet future expansion goals. [ACC-308-03]
II. Notes to the Financial Statements: Your notes must contain the following:
A. Create appropriate notes as year-to-year documentation for managing depreciation, supplies, and inventory. [ACC-308-01]
B. Create appropriate notes for long-term debt [ACC-308-01]
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