Building out the website’s resource-sharing platform remains Course Hero’s top priority. But its other two “big bets,” Grauer says, are (1) using the vast data at its disposal (in terms of the sorts of content and help students are looking for) to create its own content and (2) building out its portal for educators.
Course Hero made news in business and technology publications last week by becoming the latest education technology company to see its value soar past $1 billion. This column explores an issue altogether different from Course Hero's valuation: Has the company become a valued player in the learning ecosystem in the eyes of faculty members?
Course Hero's focus on making heroes out of the faculty is rather uncommon among technology companies, and its rationale for investing in professors sounds reasonable.
Visitors also can tap into Course Hero’s tutoring network to get “24/7 homework help.” “Everything we do is designed to help students practice, learn and get unstuck,” says Grauer, who co-founded the company as a student at Cornell University. Building out the website’s resource-sharing platform remains Course Hero’s top priority.
Primary users of the financial statements are considered existing and potential investors, creditors, and lenders. Primary users obtain financial statement information and allow them to understand the overall health of the company such as its net cash flow status etc.
The most common users of the financial statements are listed below:Management of the Company.Investors.Customers.Competitors.Government and Government Agencies.Employees.Investment Analysts.Lenders.More items...
ManagersManagers are not among external users for whom financial statements are prepared.
They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders' equity. Balance sheets show what a company owns and what it owes at a fixed point in time.
Read this article to learn about the following thirteen users of financial statements, i.e., (1) Shareholders, (2) Debenture Holders, (3) Creditors, (4) Financial Institutions and Commercial Banks, (5) Prospective Investors, (6) Employees and Trade Unions, (7) Important Customers, (8) Tax Authorities, (9) Government ...
For U.S. public companies, businesses are required to perform financial accounting in accordance with generally accepted accounting principles (GAAP). 1 The establishment of these accounting principles is to provide consistent information to investors, creditors, regulators, and tax authorities.
External users are people outside the business entity (organization) who use accounting information. Examples of external users are suppliers, banks, customers, investors, potential investors, and tax authorities.
Solution(By Examveda Team) Creditor of the business is the external user of financial statements.
Companies use their financial statements to inform their stakeholders, including investors, suppliers, and government agencies about their businesses' financial positions and profits or losses.
The most important financial statement for the majority of users is likely to be the income statement, since it reveals the ability of a business to generate a profit.
Follow these four steps to conduct a financial analysis report for your small business.Gather financial statement information. ... Calculate ratios. ... Conduct a risk assessment. ... Determine the value of your business. ... Company overview. ... Investment. ... Valuation. ... Risk analysis.More items...•
The primary focus of financial reporting is information about earnings and its components. Information about earnings based on accrual accounting usually provides a better indication of an enterprise's present and continuing ability to generate positive cash flows than that provided by cash receipts and payments.
Users of financial statementsOwners and investors. Stockholders of corporations need financial information to help them make decisions on what to do with their investments (shares of stock), i.e. hold, sell, or buy more. ... Management. ... Lenders. ... Trade creditors or suppliers. ... Government. ... Employees. ... Customers. ... General Public.
External users of financial information may include the following: owners, creditors, potential investors, labor unions, governmental agencies, suppliers, customers, trade associations, and the general public. There are three basic financial statements that we will study in this course.
The 5 types of financial statements you need to knowIncome statement. Arguably the most important. ... Cash flow statement. ... Balance sheet. ... Note to Financial Statements. ... Statement of change in equity.
Five elements of the financial statement include the balance sheet, income statement, statement of cash flow, statement of changes in equity, and the notes to the financial statements....Five components of financial include followings,Assets.Liability.Equity.Revenue.Expenses.
Study with Quizlet and memorize flashcards containing terms like Profitability ratios include:, Return on total assets may be computed as:, The Liabilities to Fund Balance ratio is: and more.
Study with Quizlet and memorize flashcards containing terms like 1. The statement of revenue reflects a record of: A) what an organization owns, what it owes, and what it is worth. B) a record of transactions over a period of time. C) what an organization owns, what it owes, and what it is worth and a record of transactions over a period of time. D) None of these is correct., 2. Reports ...
Chapter: Final Multiple Choice 1. When a financial manager studies current reports and compares them with reports from earlier periods to see if established plans are being followed, these reports are called: A) subsidiary reports. B) the general ledger. C) feedback.
8/12/2021 Week 3 - Quiz: Brad Ficklin Correct answers are hidden. Score for this attempt: 25 out of 30 Submitted Aug 8 at 2:54pm This attempt took 157 minutes. 1 / 1 pts Question 1 Of the four elements of financial management, the planning element makes sure each area of the organization is following the plans that have been established. True False
Transcribed image text: QUESTION 1 The purpose of mission, vision, and value statements is not realized if the message itself is not relayed. Which of the following is an acceptable method of relaying the message? Provide summaries downloadable from the Web Provide visuals downloadable from the Web Express the mission as a motto All of these are correct QUESTION 2 Performance measures are an ...
The real key to understanding finance is understanding. the elements of finance. Much of the strategic planning for the organization is performed by managers with a financial view of the organization. True. Management as a discipline for educational purposes did not begin in the United States until after 1900.
Flowsheets are useful because they portray who is responsible for what piece of information as it exits the system.
An EHR ideally represents the total health status of the patient across all medical providers involved in the patient's care.
The four segments that make a financial system work include the original records, the information system, the accounting system and. the reporting system. The books and records of the financial information system for the organization serve to. capture transactions. All transactions for the period reside in the.
The three parts of the accounting equation must always balance among themselves because that is how they fit together.
Most organizations have a 12-month reporting period known as a fiscal year. Anything less than a full 12-month year is called a "stub period" and is fully spelled out in the heading of the report.
Capital expenditure budgets can cover a five- to ten-year period because they may take a futuristic view.
Narrative reporting, both in relation to financial and non-financial information, is increasingly used and often mandated, with significant managerial discretion regarding content. As policy makers consider reporting as a tool for regulation to steer the behaviour of companies towards improving practices and performance upon which they have to disclose, the aim of this paper is to provide the state of the art in the academic literature on narrative reporting and identify future challenges. In order to do so, the paper investigates three questions: (1) How has the quality of narrative reporting been defined? (2) What narrative information is required and used by various stakeholders? (3) What are the real effects of narrative reporting? In answering these three questions, our review also gives implications for both future academic research and policy makers.
In July 2015 the International Financial Reporting Standards (IFRS) Foundation launched its third five year review of its structure and effectiveness of the organisation. In a public call, the Trustees solicited stakeholders’ input on the relevance of IFRS Standards with respect to broadening the IFRS scope and to the impact of new technology, on the consistent application of IFRS and on the governance and funding of the International Accounting Standards Board and the IFRS Foundation. The European Accounting Association (EAA)’s Financial Reporting Standards Committee responded to this request for views by submitting a comment letter based on research-informed opinions. This article provides an overview of this Review of Structure and Effectiveness of the IFRS Foundation and the EAA’s opinions in response to this Review.
Alternative performance measures (APMs) might be used to improve the information environment or strategically to mislead the market. The recently introduced European Securities and Markets Authority APM guidelines are intended to enhance corporate financial disclosures. We analyse the disclosure quality and determinants of all types of APMs in management reports of German listed firms for two financial periods. Although the quantity of APM disclosures is extensive, it differs across firms’ characteristics, and there is considerable room for improvement regarding disclosure quality. APM disclosure quality is positively associated with firm size and negatively associated with profitability. However, not all firms’ characteristics can be applied per se as universal determinants of APM disclosure quality, and a distinction must be made between different types of APMs. For example, high ownership concentration is negatively associated particularly with the quality of profitability APMs. Firms’ leverage is positively associated with the disclosure quality of non-profitability APMs.
The decision in 2002 to adopt IFRS was disruptive, effecting new understandings of ‘sector-neutral’, and the standard-setter’s approach was unsuccessful in meeting public sector users’ needs. The development of a new strategy finalised in 2012 has created a multi-standards framework including adapted IPSASB standards applicable from 1 July 2014. While neutrality is still prized, it is within a framework of meeting users’ needs. This paper traces the influences expediting these changes.
Course Hero made news in business and technology publications last week by becoming the latest education technology company to see its value soar past $1 billion. This column explores an issue altogether different from Course Hero's valuation: Has the company become a valued player in the learning ecosystem in the eyes of faculty members? Have concerns about copyright and cheating dissipated?
Grauer, the Course Hero CEO and co-founder, says the company combats potential academic misconduct in every way it can. Any time it identifies cases of abuse, "or where it becomes exceedingly clear that there is abuse," site monitors "remove that content.".
The philosophical premise behind sharing websites like Course Hero -- and behind getting a higher education, for that matter -- is that "there’s some pedagogical learning value that comes out" of exploring the educational materials you might find on such sites, Rettinger says.
But its other two “big bets,” Grauer says, are (1) using the vast data at its disposal (in terms of the sorts of content and help students are looking for) to create its own content and (2) building out its portal for educators.
Johnson says Course Hero has helped her embrace that change. She is not only one of the 30,000 faculty participants in Course Hero's instructor portal (the " faculty club "), but she also enthusiastically attends the company's annual educator conference and has had her teaching profiled on the company’s website.
The company's website for sharing course materials is popular with students but a decade ago raised faculty hackles over copyright and enabling cheating. Has its outreach to professors changed the narrative?
Course Hero officials at the time said that they responded aggressively to complaints brought under the Digital Millennium Copyright Act, but that “as a user-generated content site, we don’t review the content … Unfortunately, at times we recognize that users may submit materials that they don’t have rights to.”
Lenders are interested in one thing—being repaid with interest. If you were to approach a bank for a large loan, the bank would ask you for the following types of information so it could evaluate whether you will be able to repay the loan:
According to U.S. law, companies selling stock to the public must provide potential investors with financial statements.
As mentioned earlier, managers and executives who work inside a company have access to specialized managerial accounting information that is not available to outsiders. For example, the management of McDonald’s Corporation has detailed managerial accounting data on exactly how much it costs to produce each item on the menu.
In some settings, suppliers and customers are interested in the long-run staying power of a company. On the supplier side, if Boeing, for example, receives an order from an airline for 30 new 787s over the next 10 years, Boeing wants to know whether the airline will be around in the future to take delivery of (and pay for) the planes.
Employees are interested in financial accounting information for a variety of reasons. Financial statement data, as mentioned earlier, are used in determining employee bonuses.
Financial accounting information is not used to compute taxable income. Tax returns filed with the Internal Revenue Service (IRS) are prepared under a separate set of rules.
Federal and state government agencies make frequent use of financial accounting information. For example, in order to make sure that investors have sufficient information to make informed investment decisions, the Securities and Exchange Commission (SEC) monitors the financial accounting disclosures of companies (both U.S.
The real key to understanding finance is understanding. the elements of finance. Much of the strategic planning for the organization is performed by managers with a financial view of the organization. True. Management as a discipline for educational purposes did not begin in the United States until after 1900.
Flowsheets are useful because they portray who is responsible for what piece of information as it exits the system.
An EHR ideally represents the total health status of the patient across all medical providers involved in the patient's care.
The four segments that make a financial system work include the original records, the information system, the accounting system and. the reporting system. The books and records of the financial information system for the organization serve to. capture transactions. All transactions for the period reside in the.
The three parts of the accounting equation must always balance among themselves because that is how they fit together.
Most organizations have a 12-month reporting period known as a fiscal year. Anything less than a full 12-month year is called a "stub period" and is fully spelled out in the heading of the report.
Capital expenditure budgets can cover a five- to ten-year period because they may take a futuristic view.