Financial Analysis an der Cologne Business School | Karteikarten & Zusammenfassungen

Lernmaterialien für financial analysis an der Cologne Business School

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TESTE DEIN WISSEN

Which phase in the financial statement analysis framework is most likely to

involve producing updated reports and recommendations?

A Follow- up

B Analyze/interpret the processed data

C Develop and communicate conclusions and recommendations

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TESTE DEIN WISSEN

A is correct. The follow- up phase involves gathering information and repeating

the analysis to determine whether it is necessary to update reports and

recommendations

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TESTE DEIN WISSEN
What is the role of the income statement in evaluating a company's perfomance or financial position 
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TESTE DEIN WISSEN
The income statement communicates profit and or losses over a particular period 
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TESTE DEIN WISSEN
Describe the importance of the supplementary schedule 
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TESTE DEIN WISSEN
Provides additional information on every line item on the financial statement
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TESTE DEIN WISSEN
What is the role of the statement of owners equity in evaluating a company's perfomance or financial position 
Lösung anzeigen
TESTE DEIN WISSEN
The statement of owners equity communicates changes in owners equity over a particular period
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TESTE DEIN WISSEN
Describe the role of financial statement analysis
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TESTE DEIN WISSEN
The role of financial statement analysis is to use financial statements prepared by companies to evaluate past present and future performance with the intention of making an economic decision 
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TESTE DEIN WISSEN
Describe the importance of the managers discussion and analysis 
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TESTE DEIN WISSEN
Gives context the financial statements and describes nature ot business past performance and outlook 
Lösung ausblenden
TESTE DEIN WISSEN
What is the role of the cashflow statement in evaluating a company's perfomance or financial position 
Lösung anzeigen
TESTE DEIN WISSEN
The cashflow statement communicates the changes in the level of cash over a particular period 
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TESTE DEIN WISSEN
Describe the importance of the supplementary disclosure 
Lösung anzeigen
TESTE DEIN WISSEN
Allows users to read financial statements .
1.Discloses basis of financial statements 
2. Discloses the accounting method procedures and estimates 

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TESTE DEIN WISSEN
List the steps in the financial analysis framework 
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TESTE DEIN WISSEN
1. Articulate the purpose and context of the analysis
2. Collect
3. Process Data
4. Analyze Data
5. Draw conclusions and recommendations 
6. Follow up


Lösung ausblenden
TESTE DEIN WISSEN
Describe the objective of financial statement audits 
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TESTE DEIN WISSEN
The role of financial statement audits is to obtain assurance that the financial statements are free from material misstatements due to fraud or error and provide an opinion on whether the financial statements are prepared in all material aspects in accordance with the applicable financial statements frame work 
Lösung ausblenden
TESTE DEIN WISSEN
List and describe the type of financial statement audit opinions 
Lösung anzeigen
TESTE DEIN WISSEN
1. Unqualified opinion : Presents a true and fair view of performance  and position

2.  Qualified opinion : Presents a true and fair view of performance  and position with exceptions to the framework 

3. Disclaimer of Opinion : Auditor unable to provide an opinion 

4. Adverse opinion: Materially deviates from framework and contains material misstatements
Lösung ausblenden
TESTE DEIN WISSEN
List the 4 basic financial statements 
Lösung anzeigen
TESTE DEIN WISSEN
1. Balance sheet
2. Income statement 
3. Cashflow statement 
4. Statement of owners equity
Lösung ausblenden
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Q:

Which phase in the financial statement analysis framework is most likely to

involve producing updated reports and recommendations?

A Follow- up

B Analyze/interpret the processed data

C Develop and communicate conclusions and recommendations

A:

A is correct. The follow- up phase involves gathering information and repeating

the analysis to determine whether it is necessary to update reports and

recommendations

Q:
What is the role of the income statement in evaluating a company's perfomance or financial position 
A:
The income statement communicates profit and or losses over a particular period 
Q:
Describe the importance of the supplementary schedule 
A:
Provides additional information on every line item on the financial statement
Q:
What is the role of the statement of owners equity in evaluating a company's perfomance or financial position 
A:
The statement of owners equity communicates changes in owners equity over a particular period
Q:
Describe the role of financial statement analysis
A:
The role of financial statement analysis is to use financial statements prepared by companies to evaluate past present and future performance with the intention of making an economic decision 
Mehr Karteikarten anzeigen
Q:
Describe the importance of the managers discussion and analysis 
A:
Gives context the financial statements and describes nature ot business past performance and outlook 
Q:
What is the role of the cashflow statement in evaluating a company's perfomance or financial position 
A:
The cashflow statement communicates the changes in the level of cash over a particular period 
Q:
Describe the importance of the supplementary disclosure 
A:
Allows users to read financial statements .
1.Discloses basis of financial statements 
2. Discloses the accounting method procedures and estimates 

Q:
List the steps in the financial analysis framework 
A:
1. Articulate the purpose and context of the analysis
2. Collect
3. Process Data
4. Analyze Data
5. Draw conclusions and recommendations 
6. Follow up


Q:
Describe the objective of financial statement audits 
A:
The role of financial statement audits is to obtain assurance that the financial statements are free from material misstatements due to fraud or error and provide an opinion on whether the financial statements are prepared in all material aspects in accordance with the applicable financial statements frame work 
Q:
List and describe the type of financial statement audit opinions 
A:
1. Unqualified opinion : Presents a true and fair view of performance  and position

2.  Qualified opinion : Presents a true and fair view of performance  and position with exceptions to the framework 

3. Disclaimer of Opinion : Auditor unable to provide an opinion 

4. Adverse opinion: Materially deviates from framework and contains material misstatements
Q:
List the 4 basic financial statements 
A:
1. Balance sheet
2. Income statement 
3. Cashflow statement 
4. Statement of owners equity
financial analysis

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