You're "Doing the Books" for a Local Consulting Firm as Part

question 39

Essay

You're "doing the books" for a local consulting firm as part of an internship. The rest of the consultants don't have much background in accounting; they're very curious about the work you do and your college studies.
-Explain, at a conceptual level, the "accounting cycle." Outline the steps in the cycle for your co-workers; provide a brief explanation of each step.

Comprehend the calculation and significance of free cash flow in a company's financial status.

Understand how to perform and interpret vertical analysis on financial statements.

Recognize the importance of a systematic approach to financial analysis, starting with horizontal and vertical analysis.

Assess the impact of various financial ratios on a company's liquidity and ability to pay interest on debt.

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Definitions:

NLRA Coverage

Refers to the scope of businesses and workers protected under the National Labor Relations Act, which governs labor relations in the United States, including rights to organize and collective bargaining.

Opt Out Approach

A policy or system where individuals are assumed to be participants unless they choose to opt-out or decline participation.

Certification Election

A formal process through which employees vote to accept or reject representation by a labor union.

Performance Strike Replacements

Workers who are hired to take over the duties of striking employees with the focus on maintaining productivity.