Assignment 1: Setting up a Financial Statement As a nonaccounting manager, you will examine your companys financial statements as well as the financial statements of other companies. You must be able to recognize differences in these statements and have a general understanding of the various accounts listed on each statement. In this assignment, you will determine the nature of various financial statement accounts, using the example of Compnet International. Part II: Summary After completing the computations on each of the three financial statements, provide a 1-page summary of the trends that you have observed. Describe the material trends by the category of accounts. Did that category of account increase, decrease, and if so by what amount and percentage. Remember to only discuss the major or material trends that you have observed. Submission Details: . By Saturday, April 12, 2014,12:00 am central time . Assignment 1 Grading Criteria Maximum Points Provided an Excel Worksheet with details of years 2012, 2013, and 2014 compared to each other. 20 Computations included each account title as provided in the original financial statements, a difference column, and a percentage difference column. Worksheet is formatted correctly and all totals are accurate. 32 Developed a minimum of a 1-page financial summary of the major trends including discussion of inventories, intangible assets, deferred revenue, and retained earnings on the balance sheet; revenues, cost of sales, and impairment of goodwill on the income statements. 32 Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation. 16 Total: 100
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