Prompt You will assume the role of a financial accountant responsible for prepar

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Prompt
You will assume the role of a financial accountant responsible for prepar

Prompt
You will assume the role of a financial accountant responsible for preparing for a year-end audit. In addition, management would like a report of where the company stands currently, and how it stands in relation to meeting future goals for growth. To complete this project, review the Final Project Scenario document and use the accompanying Final Project Workbook.
Specifically, you must address the critical elements listed below. Most of the critical elements align with a particular course competency.
Accounting Workbook: Your accounting workbook must include appropriate calculations, ratios, and notes. Be sure to complete all tabs in the spreadsheet.
Create adjusting entries for financial statement preparation.
Create an adjusted trial balance for financial statement preparation.
Prepare financial statements for determining the company’s financial position.
Calculate ratios for determining the company’s financial health.
Create pro forma financial statements for predicting ability to meet future expansion goals.
Notes to the Financial Statements: Your notes must contain the following:
Create appropriate notes as year-to-year documentation for managing depreciation, supplies, and inventory.
Create appropriate notes for long-term debt.
Management Analysis Memo: Your management analysis memo should explain financial information to management. Provide evidence from your accounting workbook to support your ideas.
Assess the company’s financial health based on ratio analyses presented in the accounting workbook.
Compare ratio analysis to trends in financial ratios over time for illustrating their impact, providing examples to support your claims.
Summarize the effects of different compounding periods and interest rates on future value of money.
Discuss the impact of the pro forma financial statements for predicting ability to meet future expansion goals.
Identify potential issues in interpretation of financial information, providing examples to support your ideas.
Explain how alignment to relevant regulations and ethical reporting influenced your accounting practices and notes, providing examples to support your claims.
Describe the implications of inventory costing, contingent liabilities, and revenue recognition.
Word file 1—Notes to the Financial Statements
Depreciation
Supplies
Inventory
Long-term debt

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