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Disc. Ass - Unit 3

Discussion Assignment

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33 views2 pages

Disc. Ass - Unit 3

Discussion Assignment

Uploaded by

Bro. Joseph
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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BUS 1102-01 - AY2024-T3

BASIC ACCOUNTING

Discussion Assignment Unit 3

Getting to the Financial Statements of Google

You can look for Google's 10-K form on the Securities and Exchange Commission's website to view
Google's financial statements. These are the necessary details:

Name: Alphabet Inc. (Google's parent company)

Ticker Symbol: GOOGL

Link to Financial Statements: Alphabet Inc. 10-K Form

Temporary and Permanent Accounts

Revenues, costs, and dividends are all recorded as temporary accounts that are closed at the conclusion
of each accounting period. Liabilities, equity, and assets make up permanent accounts, and their
balances are carried forward. Gaining an understanding of these accounts facilitates evaluating the
profitability (temporary accounts) and financial standing (permanent accounts) of the company.

Crucial Information Revealed in Financial Statements

The financial statements provide important details about the company's profitability, liquidity, solvency,
and general financial health to you as an owner or investor. Making investment decisions, determining
the company's long-term viability, and evaluating its capacity to fulfill its commitments all depend on
these facts.

Ledger Accounts and Journal Entries

The corporation keeps ledger accounts for a variety of items, including cash, accounts receivable,
inventory, accounts payable, and equity accounts, based on the data shown in the income statement
and balance sheet. For the purpose of recording and monitoring financial transactions—which
eventually serve as the foundation for the preparation of financial statements—journal entries and
ledger accounts are essential.

Influence of External Factors on Financial Statements

The financial statements of a business can be greatly impacted by outside variables such as shifts in the
industry or the status of the economy. Examples of these influences for Google can be:
Economic Downturn: Lower revenue for Google's advertising services may result from businesses cutting
back on their advertising budgets as a result of the economic downturn.

Technological Advancements: Rapid advances in technology may have an effect on how much Google is
willing to pay for its R&D expenditures and intangible assets.

Regulatory Changes: New laws pertaining to data privacy may raise the cost of compliance, have an
effect on operating costs, and reduce profitability.

It is essential to comprehend these outside factors in order to appropriately assess the company's
financial success.

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