Footnotes in Financial Statements Research Paper

Footnotes in Financial Statements - Research Paper Example The last section of the financial statements consists of the footnotes and consists of information such as the policies and methodologies used in the preparation of the financial statement. In the simplest sense, the information in the footnotes is an extension of financial statement. It contains quality information that might be useful in understanding the financial position of the company. The footnotes can be divided into two section based on the content in it. One is about the accounting methodologies that are used in the preparation of the report. Second is the detailed explanation of the financial and operational reports. The information about the accounting policies of a company is identified and elaborately explained in the first section. There are numerous parts to this section that addresses different aspects such as inventory, revenue, etc. The policies with respect to these different aspects are discussed in this section. The determination of value of these different aspects is also discussed in this section(Tracy, 2009). There are numerous aspects of a business that cannot be easily understood such as when a company books a sale or revenue determination process. The understanding of these processes is very important to understand the information provided in the report. The information about these processes, mainly the revenue section, is provided in the footnotes. The revenue recognition and revenue determination process is addressed in the footnotes of a financial report. Hence the understanding of such methodologies and policies is only possible with the help of the information in the footnotes. The information in the footnotes is very valuable from an investor’s perspective as it can provide valuable information about the financial structure of the company. Facts that cannot be easily grasped from the main report can be understood by analyzing the accounting methods used. The analysis and comparison of the accounting

Composite Role Rating Essay Example | Topics and Well Written Essays - 500 words

Composite Role Rating - Essay Example Measurement tools viz., rating forms, observational checklists or questionnaires are used to obtain measures (numbers) that are valid and reliable (Arreola, 2007). In the hypothetical Impact Matrix (Appendix A) that I have prepared, I have used typical activities that university teachers engage in namely, Teaching, Scholarly Activity, and Service as the 3 major roles to evaluate faculty performance. Under ‘Teaching’, the role components identified are ‘instructional delivery’, ‘instructional design’, ‘content expertise’ and ‘course management.’ In my impact matrix, students, being the target entity, will be the sole judge for instructional delivery skills. This component is best evaluated through the following list of desirable attributes of faculty teaching performance whereby â€Å"the instructor creates an intellectually stimulating environment by : demonstrating interest and enthusiasm in the student learning proce ss; demonstrating effective communication skills: writing, speaking and listening; eliciting responsible student participation; †¦being available to students outside of class time to discuss course materials; †¦and returning student work in a timely manner† (Clarke University Faculty Evaluation Manual, 2008, pp 4-5). These are qualities in a teacher that are especially needed for effective guidance of students in their academic course work; therefore, I have assigned 35% as the source impact. With an arbitrary source rating of 4, the weighted rating works out to 1.4 (as shown in Appendix A). The ratings are based on a 5-point performance scale which is: 1 (Unacceptable); 2 (Satisfactory); 3 (Good); 4 (Very Good); and 5 (Excellent). For the instructional design component, students (source impact weight, 10%); peers (15%); self (10%) all contribute the data. The weighted rating from all these sources adds up to an arbitrary value of