Outdoor Living Spaces Company: Financial Statement Overview

6 Pages Posted: 10 Jun 2009

See all articles by Mark E. Haskins

Mark E. Haskins

University of Virginia - Darden School of Business

Abstract

This material presents students with an opportunity to have another shot at cementing their understanding of the general format of the three basic financial statements, some of the content of those statements, and a few of the basic principles undergirding those statements. The tasks presented in the material are relatively direct and manageable as homework within an hour's time.

Excerpt

UVA-C-2287

OUTDOOR LIVING SPACES COMPANY:

FINANCIAL STATEMENT OVERVIEW

Familiarity and comfort with financial statements is important if you are to work in the business world. As such, format, general content, basic terminology, and fundamental underlying principles are worthwhile foci for mastery. Presented below are two separate tasks. In their own way, each presents an opportunity for gaining a bit more familiarity and mastery in the arena of financial reporting for those just beginning their sojourn into that world.

Basic Financial Statements Task

Presented below are an income statement, balance sheet, and statement of cash flows pertaining to a small deck-building business, the Outdoor Living Spaces Company. In the quest for cementing your understanding of some of the major points pertaining to the format and content of annual reports, consider the following tasks:

. . .

Keywords: Financial statements, corporate financial statements, balance sheets, accounts receivable, assets and liabilities, cash flows, GAAP

Suggested Citation

Haskins, Mark E., Outdoor Living Spaces Company: Financial Statement Overview. Darden Case No. UVA-C-2287, Available at SSRN: https://ssrn.com/abstract=1417160

Mark E. Haskins (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States
434-924 -4826 (Phone)

HOME PAGE: http://www.darden.virginia.edu/faculty/haskins.htm

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