-Use the Information Provided to Complete the Pro Forma 2013

question 9

Essay

-Use the information provided to complete the pro forma 2013 income statement in table 14-1.

Describe the purpose of an audit and the requirements of the Sarbanes-Oxley Act for corporate accountability.

Calculate and understand financial ratios such as price-earnings ratio, return on stockholders' equity, and return on total assets.

Identify what constitutes an unusual item on an income statement and the implications of various unusual items.

Understand the presentation of other comprehensive income and the components of a corporate annual report.

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Definitions:

Virtual Teams

Groups of people who work together from different geographical locations, connected by technology such as email, video conferencing, and collaboration software.

E-leader

A leader who uses electronic means, such as email, social media, and virtual meeting platforms, to manage and guide teams, especially in remote or digital workplaces.

Physical Locations

Tangible places or sites where activities, processes, or operations are carried out or where a particular entity is situated.

Open-book Management

A business practice where a company shares detailed financial reports and data with all employees to involve them in its financial performance and decision-making processes.