lesson6
Dear Jessica,
Thank you for your fifth message. My comments follow below.
Sincerely,
Prof. Sue Garreis
Dear Professor Garreis,
Thank you for your reply and corrections of my English.
There is my homework following:
1.What is a balance sheet?
The balance sheet presents a snapshot of the investing and
financing activities of a firm at a moment in time.
It consists of three elements which are assets, liabilities, and shareholders' equity.
Correct.
2.What is stockholders' equity in the U.S.?
Stockholders' equity is the owners' claim on the assets of a firm.
Unlike creditors, the owners have only a residual interest; that is, owners
have a claim on all assets in excess of those required to meet creditors'
claims. The shareholders' equity generally comprises two parts: contributed
capital and retained earnings.
Correct.
3.Name one current asset of Oracle in 2008.
Cash and cash equivalent is one current asset of Oracle in 2008.
Correct.
4.What is the value of that current asset? Please write the entire value
in US dollars. Write the entire value in words.
The entire value in US dollars is $8,262 million.
Correct.
Cash equivalent are short-term investments that are readily
convertible into cash and that are exposed to insignificant risk of changes in
value. Cash equivalents include time deposits and certificate of deposits, all
of which mature or become due within three months of the date of acquisition.
Yes, it is not only the pile of cash in the bank. It is the short-term instruments that are very quickly converted to cash.
In the US, we believe that cash is
the most important asset a company has.
5.Name one current liability of Nike in 2008.
Accounts payable is one current liability of Nike in 2008.
Correct.
6.What is the value of that current liability? Please write the entire
value in US dollars. Write the entire value in words.
The entire value in US dollars is $1,287.6 million
Correct.
Accounts payable is a strategic, value-added accounting function
that performs the primary non-payroll disbursement functions in an organization.
As such, the AP operation plays a critical role in the financial cycle
of the organization. AP enables an organization to accomplish its objectives
by bringing a systematic, disciplined approach to evaluate and improve
the effectiveness of the entire payables process.
Yes, AP represents the amount of cash that will be paid out in a year for everything but payroll. Measuring AP against the amount of cash on hand gives an important indicator of the health and viability of the company. A "cash crunch" (not enough cash to meet current bills) is what got many businesses in trouble. Their inability to meet their current payment needs forced many companies into bankruptcy or reduced production or layoffs or all three measures. I think the cash flow statement will become even more important in the US.
7.Please send me the Japanese translation for the words in the list
below. Please write the words in romajii.
(vocabulary omitted)
Thank you for the vocabulary words.
Is it easier for you to put your answers in a table instead of writing a sentence for each word? If yes, feel free to use a table. I am not sure if the table is easily copied from the web page into your email.
Are there communities of exclusively older people in Japan? Dealing
with an aging population is an important issue for both Japan and the US. What
about for China?
Yes, there are. In my opinion, I think it is an important issue for not
only developed countries such as Japan and US but also developing countries. In
China, there are a lot of exclusively older people.
Finally, I think the difficulty of the assignments is about right.
Sincerely, yours
Jessica