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¶ … financial statements of Barnes and Noble and Borders Group for fiscal year 2009. The companies' statements provide information about their financial health, as well as discuss plans for the coming fiscal year.
The balance sheet reveals detailed information about each company's assets, liabilities and owners' equity (net worth). It is based on the accounting equation Assets = Liabilities + Stockholders' Equity; the two sections of the balance sheet must equal each other just as they do in the equation. This equation represents the basic accounting premise: assets, the means used to operate the company, are balanced by a company's financial obligations, along with the equity investment brought into the company along with its retained earnings (Investopedia, n.d.).
As both the Barnes and Noble and Borders Group statements show, there are four main financial statements:
The balance sheet, which shows what a company owns and what it owes at a fixed point in time
The income statement (or statement of operations), which shows how much...
Changes in assets and liabilities that are shown on the balance sheet are also reflected in the revenues and expenses shown on the income statement, which result in the company's gains or losses. Cash flows provide more information about cash assets that are listed on a balance sheet; they are related, but not equivalent, to net income shown on the income statement. No single statement tells the complete picture of a company's financial health, but taken together they provide powerful information. (Securities and Exchange Commission, 2005).
In addition to the financial statements, both the Borders Group and Barnes and Noble statements present information included in footnotes. Both companies' footnotes describe…
Works Cited
Investopedia Staff (n.d.). Reading the Balance Sheet. Retrieved on 4/6/2011 from http://www.investopedia.com/articles/04/031004.asp
U.S. Securities and Exchange Commission. 2007. Beginners' Guide to Financial Statements. Retrieved on 4/6/2011 from http://www.sec.gov/investor/pubs/begfinstmtguide.htm
Investor Dictionary, (n.d.). Off-balance sheet activities. Retrieved on 4/6/2011 from http://www.investordictionary.com/definition/off-balance-sheet-activities
Siegel, J.G., & Shim, J.K. (2006). Barron's Accounting Handbook. New York: Barron's Educational Series.
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