ACC 303 Assignment 1: Exxon versus Chevron
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Assignment 1: Exxon versus Chevron
Due Week 8 and worth 200 points
According to the textbook, the income statement measures the success of a company’s operations for a given period. The income statement is important to investors and creditors, because it determines the profitability, investment value, and creditworthiness of a company. Specifically, the income statement helps investors and creditors predict the amounts, timing, and uncertainty of future cash. Income statement preparers can make such informed predictions by analyzing a company’s financial statements, calculating the price-earnings ratio, and reviewing notes to the financial statements on the income statement.
In order to complete this assignment, use the Internet to research and review financial statements for Exxon and Chevron for the years 2012 and 2013.
Write a five to six (5-6) page paper in which you:
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Analyze the functions and the main sections of the four (4) primary financial accounting statements: the income statement, the statement of retained earnings, the balance sheet, and the statement of cash flows.
Prepare the main sections of the four (4) primary financial accounting statements: the income statement, the statement of retained earnings, the balance sheet, and the statement of cash flows.
Use technology and information resources to research issues in intermediate accounting
Write clearly and concisely about intermediate accounting using proper writing mechanics.