Assignment: Understanding Financial Statements
Instructions:
Read the Forge Group [PDF] attached below case study for this unit. Managers may not be accountants, but they must be able to understand financial statements. This unit's case study will give you the opportunity to analyze information presented on the financial statements of an engineering and construction company.
Answer the following question in one page.
a) Explain the importance of operational managers being able to understand how financial statements are prepared. How can operational managers at the Forge Group use the financial information presented in the case study to manage their respective divisions effectively?
b) Discuss the importance of providing timely financial information to management. Is it more important to be 100% accurate and late, providing financial information or provide estimates and be timely? Discuss the pros and cons of each.
c) Identify some potential areas where management may have been biased in their reporting. Support your thoughts with specific information from the case study.
Format your assignment according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
Download:- Forge-Group-Case-Study.rar