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 firms 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 firms 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 firms 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, its your turn. Analyze the challenges in setting up a new company in Peachtree Complete Accounting that could affect an accountants 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.