Every financial organisation’s assessment of its assets, liabilities, and shareholders equity have to occur at the point of time, which is at the end of the financial year. It is done through a process and a financial report is prepared indicating an evaluation of its capital structure. This financial statement is called a balance sheet and shows how a company has maintained a balance between its incomes and expenditures over a period of time.
A student can use a balance sheet analysis example, as provided below, and see the approach used by our accounting assignment experts. In our website, you will also see that there is a balance sheet analysis guide, which includes all the steps, tricks, common problems faced by the students, and solutions to these problems. Thus, opting for our Analysis of Balance Sheet help will allow you to understand the tricky accounting jargons such as operational leases, shareholders’ equity, capital expenditure, marketable securities, and more such terms.
What are the Different Types of Accounting Assignments?
Types of accounting assignments that are given to the students in Australian Universities, Colleges, and Financial Institutions:
- Assignments related to the basics and fundamentals of Accounting: these include questions pertaining to the preparation of Journals and Ledgers. An example image is given below. Here, the students are required to first prepare the journals, and proceed towards the preparation of a ledger. This whole process is a part of Double-Entry bookkeeping.
- Accounting assignments related to the accounting standards: In these assignments, the students have to answer questions related to International Financial Reporting Standards (IFRS), as well as, Australian Accounting Standards Board. IFRS are those accounting standards developed by International Accounting Standards Board (IASB). AASB on the other hand, is an Australian institution whose main objective is to develop and maintain financial accounting standards. Various financial entities in Australia follow and use those accounting standards set by AASB.
- Accounting assignments related to Accounting theories and concepts: These are mostly theoretical-based assignments that the students are required to write on the basis of their understanding of the various accounting theories and concepts. The questions pertaining to them can be as follows:
- How has the accounting theories changed over the last couple of years?
- What effects have those changes made to the operation the various financial institutions?
- What is accounting theory and conceptual framework and their purposes?
- Income statements such as profit and loss account, income and expenditure accounts.
- A balance sheet showing the financial position of the company. Here, students have to focus on the assets and liabilities.
- Financial statements such as those showing the changes in the equity or retained earnings of the financial entity.
- A cash flow statement that shows a detailed report and analysis of the company’s cash flow activities over a period of time. Here, you will have to focus on the operating, investing, and financing activities.
In the above given accounting assignment analysis of a balance sheet example, you can see that three questions are needed to be answered. Our accounting assignment experts thoroughly read the question and then observe carefully that what is provided in the question and what needs to be found out. Here, in order to prepare the classified balance sheet, they will first differentiate the assets from liabilities. Then, they will classify assets into current and long-term assets, and similarly, liabilities into current and long-term liabilities. On the basis of this process, the final classified balance sheet will be prepared. In the second part of the question, a simple current ratio was computed by these Analysis of Balance Sheet assignment writing experts. They did this by comparing the company’s current assets with current liabilities. Lastly, on the basis of the above two answers, the last question was answered.
How Tricky Can Accounting Assignments Become?
Let us understand the reasons why a student requires an online Analysis of Balance Sheet assignment help. Firstly, this subject comprises tons of accounting concepts and terminologies, some of the which are tricky for many students. Our Analysis of Balance Sheet assignment writing service has already identified them in the above section precisely. Secondly, solving and analysing a balance sheet requires you to have an in-depth understanding of accounting concepts, accounting ratios, accounting equations, accounting formulas, and more. Thirdly, you need to be very accurate at solving it, as even a single mistake can make a big difference in the balance total. Fourthly, you need to follow a proper structure while writing your accounting assignment.
There are only two ways to overcome these issues; one, you can take the help of your teachers, friends, or family members; second, you can call an Analysis of Balance Sheet assignment writing expert and ask him to do your assignment.
There are many types of accounting assignments that our online Analysis of Balance Sheet assignment experts provide to the students who face problems in their work. The concepts, terminologies, and theories must be familiar with. The students should also be well-versed with the various accounting standards that will help them solve their assignments. But this task is not that simple, because the concepts can be tricky to learn, and they are limited by time and resources as well. This is where they have to approach an expert who can do the work as per their requirements. Assignment Hippo has a dedicated bay of such professional academic writers who are subject-experts and have an in-depth knowledge of the accounting field of study. They are highly-efficient at their work and have the ability to complete an assignment without doing much research. Being aware of all the accounting jargons, they will bring you a full-fledged accounting assignment: analysis of a balance sheet exactly as how you need it, and prior to its deadline.
Analysis of a Balance Sheet - Composition of a Balance Sheet
Be it any type of an asset, they are listed on the basis of their liquidity, which means how easily they can be converted into cash, when the company needs it in case of an emergency. To get a clearer understanding, they are divided into:
- Current assets: all the assets under this type can be converted into cash within a single year. Some of the common examples are accounts receivables, prepaid expenses, cash and cash equivalents, inventory, and more.
- Non-current assets or long-term assets: here, the assets are unlikely to be converted into cash within one year. Examples include long-term investments, patents, tangible assets, goodwill, and more.
Any kind of money that a company owes to another party, supplier, or a lender is a liability. Here also, it is divided into:
- Current liabilities: these are those liabilities which has to be paid back within one year. Common examples include rent, taxes, interest payable, dividends, and more.
- Long-term liabilities: these are not due within the next twelve months of the balance sheet. Examples include long-term loans, bonds payable, and deferred taxes and revenues.
The shareholders of a company are considered to be one of the most valuable and resourceful people – the owners of a company’s shares.
Our Accounting assignments also deal with issues in application of the following:
- Fixed Asset Accounting
- Reporting Standards that are Financial
- Assets of the public
- Viewpoint of Liabilities and Assets
- Creative Accounting
- Construction Contracts
- Intangible Assets
- Financial Instruments
- Business Combinations
- Income Tax
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