Assessment Goals:
- Assess the student's ability to follow instructions to prepare financial statements using a computerized accounting software program, and
- Analyze the financial statements you prepared using Xero
Your role is to serve as the accountant for a corporation operating in the U.S. The parent company is located inSyndey, Australia.
Your first step is to sign up for a free 30-day trial membership for an online accounting software program called Xero. The Xero Workbook will guide you through the process of recording and reporting the transactions of the corporation, which includes everyday accounting tasks such as: importing transactions, entering various daily transactions, bank reconciliations, and others. Step-by-step instructions are provided in the Manual attached to these instructions.
Deliverables:
- Within 30-days of creating your free Xero account, download the
o Balance Sheet,
o Income Statement, and
o General Journal in pdf format
- Using Excel, perform a vertical analysis for the Income Statement and Balance Sheet, and financial ratio analysis providing a minimum of 10 financial ratios, and
- Prepare a 2-page summary of the company's financial status based on the financial statements, vertical analysis, and specific ratios you chose to compute.
Attachment:- Bank Statement.rar