ACC 201 SNHU Financial Statements Accounting Summary Report

Scenario

You are a certified public accountant (CPA) who is working with a small bakery to prepare their financial statements for three months of the current fiscal year. Because the company is a startup and so small, the accounting is done manually in Microsoft Excel. You have been given the accounts and information you need to prepare their financial statements, but you will need to use the accounting cycle to report accurate information to the finance department. The business owners have also asked you to summarize the company’s performance based on the financial statements.

1. Summary Report

   After you have completed preparing all the financial statements, analyze the statements and write a short report summarizing your findings. Use the template provided in the What to Submit section to complete your report.

   1. Summary: Write a summary of what the financial statements indicate about the company’s financial health and performance.
      1. Purpose: What kind of information would these financial statements provide to various aspects of the business?
      2. Analysis: What is the company’s cash position, its net income as a percentage of sales, and its current liabilities to current assets position?