Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 34

Find financial information From the set of financial statements acquired for E1.1, determine the following:

a. Who is the chief financial officer?

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b. What are the names of the directors?

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c. Which firm conducted the audit? Have the auditors reviewed the entire report?

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d. What are the names of the financial statements provided?

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e. How many pages of explanatory notes accompany the financial statements?

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f. In addition to the financial statements, are there other reports? If so, what are they?

Step 1 of 3

Accounting Information

Accounting is the process of recording and summarizing the financial information of an organization systematically and communicates its financial information to the users of accounting information so that they can make decisions. Generally, the users of accounting information are management, owners, creditors and employees of the organization and state and local government who are concerned with tax matters.