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Using only one of your companies, arrange the statements on one page. This will mean reducing them to fit. Then draw lines between the statements
Using only one of your companies, arrange the statements on one page. This will mean reducing them to fit. Then draw lines between the statements showing the linkages. The statements will be reduced and you may not be able to read the numbers, but you know from section what they are.You can put labels next to the numbers to clearly show what is linked.As I mentioned above, this is an easy section and won't take long to do provided you have done section first. Do not expect one team member to do this without working on section While this is a small section it is also gives you the opportunity to demonstrate your understanding of a very important concent. that being how all the elements of the statements relate to each other.For each company what is the main liability? Why do you think your company would have this liability? This may not be as explainable as assets but read the disclosure notes and see what you can find.For each company what are the equity accounts? Do you know what they represent? You may need to read the notes, and also read the text book chapter on equity and do some further research on the web.
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