ACCT 363 Assignment 1 1. Discuss the major types of business analysis. 2. Identify and describe the five important tools of financial analysis. 3. What are the differences between Horizontal and vertical analysis? 4. Identify the additional sources of financial reporting information (beyond financial statements) that are useful for analysis. 5. The comparative statements of financial position of Haley Company appears below: HALEY COMPANY Comparative Statements of Financial Position December 31 Assets Plant assets Current assets Total assets 2017 $ 640 360 $1.000 2016 $ 500 300 $ 800 Equity and liabilities Share capital - ordinary $ 350 $ 280 Retained eamings 260 240 Non-current liabilities. 240 160 Current liabilities 150 120 Total equity and liabilities $1,000 $ 800 Instructions (a) Using horizontal analysis, show the percentage change for each statement of financial position item using 2016 as a base year. (b) Using vertical analysis, prepare a common size comparative statement of financial position