"Interpreting
Financial Statements" Please respond to the following:
(1)Peachtree
Complete Accounting has the ability to generate a variety of financial
statements. Select a financial statement for Bellwether Garden Supply and
explain the firm’s performance per the financial statement you selected, as
well as how that financial statement should best be used by management to make
informed business decisions.
(2)For
the financial statement that you selected, review the previous two reporting
periods and explain the firm’s performance over all three reporting periods
(the current period you initially selected and the two prior reporting
periods), as well as why such analysis is important to determining the firm’s
financial condition. Make at least two recommendations regarding how management
could use the analyses of financial statements by accountants to make better
informed business decisions.
"Setting Up
a New Company in Peachtree" Please responds to the following:
(3)Over
the last few weeks, you have worked with a company already created for you in
Peachtree. Now, it’s your turn. Analyze the challenges in setting up a new
company in Peachtree Complete Accounting that could affect an accountant’s
ability to properly record, process, and classify accounting data, and how you
would address that challenge.
(4)Identify
a challenge in designing a new chart of account in Peachtree Complete
Accounting if the person has limited accounting knowledge and discuss how you
could overcome that challenge. Determine the likely consequences to a company
if the challenge you identified was left unaddressed.