Learning Team Assignments from the Readings Prepare written answers to the following assignments from the text, Financial Accounting 6th ed: Chapter 8: BYP8-6 – Ethics Case Chapter 15: Problem P15-1 Problem P15-6 Be sure to show your calculations for each ratio using Excel (the details of the data used to calculate). Discussion Questions
What are the four basic financial statements? What do the different financial statements tell you about a company? Which financial statement is the most useful? Why?
What types of information is provided to managers in your department and how do managers in your organization use information presented in financial statements? What is your experience with financial statements? If you don't have experience with the statements, what experience would you like to obtain?
What is the debt and credit?
Who are the different users of accounting information? What are the differences between managerial and financial accounting? What is the role of the CPA and how does it differ from other accountants? What is the value of the accounting function in your organization, both internally and externally?