Lesson 5
Dear Taku,
Thank you for your fifth message. My comments and corrections follow.
Sincerely,
Prof. Sue Garreis
Dear Professor M.Susan Garreis,
Thank you for your reply and corrections of my English.
<Homework>
1. What is a balance sheet?
>The balance sheet referred to the financial position of the company.
Therefore a balance sheet presents a snapshot of the investing investing and financing activities of a firm at a moment in time.
>In US GAAP, we prefer to say, " a Balance Sheet presents a snapshot of the financial position of the company at a moment in time."
>The words "operating, investing and financing activities" usually refer to the Cash Flow Statement.
>The Balance Sheet is divided into Assets, Liabilities and Owners' Equity sections.
2. What is stockholders' equity in the U.S.?
>Shareholders' equity is the owners' original investment,and net earnings from the business, and net loss from the business,and dividends paid by the business to the owners.
Therefore shareholders' equity is the owners' claim on the assets of a firm.
>Correct.
3. Name one current asset of Oracle in 2014.
> Cash and cash equivalents.
>>Correct.
4. What is the value of that current asset? Please write the entire value in US dollars.
Write the entire value in words.
>Cash and cash equivalents in 2014 is $17.769.000.000(seventeen billion seven hundred and Sixty-nine million).
>>Correct.
>>In the US we use commas rather than periods to separate thousands in a large number: $17,769,000,000.
5. Name one current liability of Nike in 2014.
>Current portion of long-term debt (Note 8).
>>Correct.
6. What is the value of that current liability? Please write the entire value in US
dollars. Write the entire value in words.
>Current portion of long-term debt in 2014 is $7.000.000 (seven million US dollars).
>>Correct.
>>In the US we use commas rather than periods to separate thousands in a large number: $7,000,000.
7. Please send me the Japanese translation for the words in the list below. Please write
the words in romajii.
>Thank you for the vocabulary list.
8. How easy was this lesson for you?
Though the accounting was about right, it was difficult to understand clearly.
The English was: Very hard.
>Thank you for your feedback.
Thank you for reading my e-mail.
Sincerely,
Taku.