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This is a comparative financial statement example. You will be working with a report and statements that will vary on an annual, quarterly or monthly basis. Within these three financial statements will be information that will be presented on a line by line basis, on the balance sheet, income statement, and the profit and loss statement. This chart will be a graphical representation of the data presented within these statements.
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Using a control factor chart, you will be working with a balance sheet, a statement of cash flows, a statement of income statements, and a statement of equity. You will be working with the three major operating divisions of the company, that being General Motors, Ford Motor Company, and Chrysler Corporation. You will be focusing on those three financial statements.
The General Motors, Ford Motor Company, and Chrysler Corporation are the main financial divisions. Within these divisions, several subdivisions are being looked at within these divisions.
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The subdivisions within each division are written in on the income statement, the cash flow statement, and the profit and loss statement. Within these financial statements, you will be focusing on the earnings statement, the operating balance sheet, and the financial statement of the cash flow statement.
Within these financial statements, you will be working with earnings, interest, depreciation, impairment charges, and taxes. The earnings, interest, depreciation, and impairment charges will be on the balance sheet. The tax will be on the income statement.
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Many things will change in the business of the company. The balance sheet may not contain the accumulated depreciation. The accumulated depreciation may be determined incorrectly by the process of determining the amortization. These factors will need to be corrected and adjustments made by the accounting department.
At the end of each quarter, you will need to check the report and balance sheet to see if the overall amount of cash, a major subdivision of the business, and the earnings, interest, depreciation, and impairment charges are all correct. You may also want to check the statements of cash, and the income statement to see if there are any mistakes made in the financial statement.
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