Financial Accounting Project Requirement

Financial Accounting Project Requirement

Assignment: Financial Accounting Project Requirement

There are eight worksheets in the workbook however you will need to complete 8-12. All of the information you need to complete this Course Project is located in the Excel® Workbook and Word Document. Be sure to read all the sheets in the workbook. This workbook includes:

• A list of March transactions

• A Chart of Accounts reference sheet

• A Grading Rubric to help explain what is expected

• Each worksheet has the Check Figures embedded as a comment

Scenario

You’ve just secured a new client in your accounting practice, Howard’s Flight Radio Management Corporation (HFRM), a brand new small business specializing in flight management systems (FMS). The owner, Howard Allan, is a former Air Force pilot and retired Colonel, but definitely not an accountant. Your job is to help Howard put his affairs in order. Luckily, Howard has only been in operation for a month and things have not gotten too out of hand yet! Howard has to submit his financial statements to his investors and doesn’t know where to begin. It’s your job to go through the complete accounting cycle to prepare the financial statements for the HFRM.

Requirements

8 Prepare the Closing Entries

9 Post Closing Entries to the General Ledger

10 Prepare the Post Closing Trial Balance

11 Compute Ratios

12 Interpret the Ratios

 

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