Preparing Financial Statements
Timeline
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January 18, 2021Experience start
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January 23, 2021Project Scope Meeting
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February 20, 2021Midway Check-In
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March 27, 2021Presentation
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March 27, 2021Experience end
Timeline
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January 18, 2021Experience start
-
January 23, 2021Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
-
February 20, 2021Midway Check-In
Meeting between students and organization to ensure that progress is on track halfway through completion.
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March 27, 2021Presentation
Students present virtually to the industry partner.
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March 27, 2021Experience end
Categories
AccountingSkills
business consulting data analysisIn this project, students will prepare financial statements for your business, giving them a learning opportunity and providing you with an opportunity to assess talent for your hiring pipeline. For this opportunity, we are seeking companies that have one service rather than sales, as it will be more simple to prepare the financial statements.
Final deliverables will consist of a financial statement report that includes an income statement, a statement of owner’s equity, a balance sheet and a statement of cash flows. The report should address the following:
- Does the company have a net profit or a loss? What is causing the profit or loss?
- Are the assets greater than the liabilities or vice versa?
- Does the company have a favourable capital amount?
- Which business activities contributed to cash increase/decrease?
Project timeline
-
January 18, 2021Experience start
-
January 23, 2021Project Scope Meeting
-
February 20, 2021Midway Check-In
-
March 27, 2021Presentation
-
March 27, 2021Experience end
Timeline
-
January 18, 2021Experience start
-
January 23, 2021Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
-
February 20, 2021Midway Check-In
Meeting between students and organization to ensure that progress is on track halfway through completion.
-
March 27, 2021Presentation
Students present virtually to the industry partner.
-
March 27, 2021Experience end
Project Examples
This project may include, but is not limited to:
- Creating a list of accounts with related account balances (a small or medium-sized business would be a suitable partner)
- Creating financial statements such as an income statement, a statement of owner’s equity, a balance sheet and a statement of cash flows
- Provide guidance for more complex accounting transactions, such as current and long-term financial liabilities, income taxes, employment benefits, leases, shareholder's equity and earnings per share
Companies must answer the following questions to submit a match request to this experience:
Provide a dedicated contact who is available to answer periodic emails or phone calls over the duration of the project to address students' questions.
Be available for a quick phone call with the instructor to initiate your relationship and confirm your scope is an appropriate fit for the course.
Timeline
-
January 18, 2021Experience start
-
January 23, 2021Project Scope Meeting
-
February 20, 2021Midway Check-In
-
March 27, 2021Presentation
-
March 27, 2021Experience end
Timeline
-
January 18, 2021Experience start
-
January 23, 2021Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
-
February 20, 2021Midway Check-In
Meeting between students and organization to ensure that progress is on track halfway through completion.
-
March 27, 2021Presentation
Students present virtually to the industry partner.
-
March 27, 2021Experience end