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9:33 Back Assignment Details INTERMEDIATE ACCOUNTNG I Description The primary objective of financial...

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Accounting

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9:33 Back Assignment Details INTERMEDIATE ACCOUNTNG I Description The primary objective of financial accounting is providing information useful for decision makers, which has been the focus of the class. Now, put what you've learned to use. You have already been randomly assigned companies who either recovered from the brink of failure or met their demise. Remembering that financial accounting is supposed to provide information useful for decision making, what information could have been gleaned from reviewing the companies' annual and/or quarterly financial statements during the five years leading up to the failure? Or, what information can we glean from reviewing our company's financial statements from the previous five years? Ask yourself these questions: How strong was the company's balance sheet? How liquid was the company? How were sales? How strong were the components of income? How had expenses lined up year over year? (Has any particular expense increased more than expected?) What is included in the notes to the financial statements? + Submit Assignment

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