Identify at least two financial reports related to your proposed change and explain how your use of this report will influence your decision making. Provide examples.
It is one thing to be able to look at a financial report and analyze it using ratios and comparisons. However, keep in mind, when you do that, you are studying historical information. Your true value as an accountant will come if you can use that historical information to make future projections and decisions involving change.
Scenario
For this assignment, you will take a set of financial reports from a company and try to determine what would happen if something changed within the company. You will identify something you want to change and then try to determine the impact of that change. This link will take you directly to the Nexis Uni database. This database will enable you to search for a company and review its financial information.
For example, suppose you want to grow the company’s sales by extending credit to more customers. How will this impact sales, accounts receivable, cash flow, expenses (especially bad debt), and so on? Once you determine that, how will it ultimately impact the balance sheet, income statement, and statement of cash flows? How will it impact your key ratios? What non-accounting information (such as training staff in new processes) might be impacted?
Some other examples could be: what happens if you reduce payroll (a very common thing these days) or reduce inventory (to move to more of a real-time inventory system), or make a significant capital purchase? What would be impacted?
For this assignment, write a 2–3 page paper in which you:
Identify at least two issues you want to change in the company and explain the impact of the change on the company’s financial reports. Include examples.
Identify at least two financial reports related to your proposed change and explain how your use of this report will influence your decision making. Provide examples.
Identify at least two processes not directly related to accounting and explain how they will be impacted by the proposed change. Include examples.
Use at least two quality sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides.
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