Choose at least two concepts you have learned in Intermediat

Choose at least two concepts you have learned in Intermediate Accounting, 2nd edition from the list below and explain how you may use them in your present or future accounting position. Make sure you provide details on how each concept will help you support the financial goals of the company you currently work for or will work for in the future.

PS: Please I need a complete answer. Thanks

The concepts are as follow:

retained earnings

Earnings per share

Statement of retained earnings

Stock option

Memo writing

Stockholders\' equity

Revenue reognition

Contributed capital

Accounting for income tax

Accounting for postretirement benefits

Accounting for leases

Capital lease

Operating lease

Statement of cash flows

Accounting for changes and errors

Change in an Accounting Principle

Change in an Accounting Estimate

Change in a Reporting Entity.

Errors

retrospective adjustment method

prospective method

direct effect of a change in accounting principle

indirect effect of a change in accounting principle

Solution

Statement of Cash Flow:

There are three important Finncial Statement and amongst them is the Statement of Cash Flow. The statement helps in depicting the flow of cash movement from the organisation .

The statement of cash flows acts as a connenction between the balance sheet and the statement of profit and loss , tracing how money flowed in and out of the organisation.

Three Main Acitivities of Cash Flow Statement are:

How to use the concept in Accounting Position:

The Cash flow statement helps in accounting for the flow of cash , that is receipt and utilisation of cash within and outside the organisation.

The cash flow statement also helps in bifurcating and accounting for cash inflow and outflow between the different activities that is Operating , financing or Investing activities . The stetement allows the organisation to point out the areas where problem exist and need to be fixed .

How it will help you to support the financial goals of the company.

Earning Per Share (EPS):

Earning per share, measures the amount of net income earned per share of stock outstanding.

Basically in simple words, this is the amount of money each share of stock would receive if all of the profits were distributed .

How to use the concept in Accounting Position:

Earnings per share (EPS) = Net Income Available to Common Shareholders/Number of Common Shares Outstanding

How it will help you to support the financial goals of the company.