• Provide an overview of the company's accounting system. What basis of accounting is used? Why?
• What strategies is the business using to ensure responsible accounting practices? Why have these strategies been selected?
• Describe the steps in the accounting cycle.
• Define internal controls and discuss 1-2 controls and how they are relevant to the Peyton company
• Analyze the results of operations based on the financial statements. What do these results tell a business? e) What do the statements themselves tell about the strengths and weaknesses of the company's financial position?
• Discuss the changes in operations that might need to be made to make the company more profitable. Justify why each change may be necessary.
• What are the company's financial strengths and weaknesses? What specific changes can be made to alleviate the weaknesses?
• What opportunities can the company explore because of its strengths? How would these be beneficial?