Smurfit Stone Financials Paper

In: Business and Management

Submitted By kiawells
Words 969
Pages 4
I have reviewed a company by the name of Smurfit Stone Container Corporation and assessed the health of the company. Smurfit Stone Container Corporation is one of the industry’s leading manufacturers of paper-based packaging and recycling. Smurfit-Stone is a leading producer in containerboard which includes corrugated containers, and recovered fiber. They also specialize in the recycling of paper, waste, and aluminum, steel and cardboard. Smurfit-Stone operates approximately 240 facilities which are primarily located in the U.S., Canada and Mexico and employs around 33,500 people as of currently. Other companies within this industry are Georgia Pacific and Waste Management. These are just to name a couple of the competitors within the paper/recycling field. The companies within the paper/recycling industry can all be compared in several ways. One of Smurfit Stones’ competitors, Georgia Pacific is also one the world’s leading manufacturers. Georgia Pacific specializes in recycling tissue, paper, packaging, cardboard and building products. Georgia Pacific has approximately 300 manufacturing facilities across North America, South America and Europe. Compared to Smurfit-Stone Container Corporation, Georgia Pacific has 45,000 employees and their employees are guided by Market Based Management principles and this is based on integrity and compliance. Another competitor is Waste Management Recycling. Waste Management is a leading provider of comprehensive waste, environmental services and recycling in North America. Waste Management has approximately 55,000 employees along with 367 collection operations, 355 transfer stations, 273 active landfill disposal sites and 134 recycling plants. Waste Management is the largest recycler of solid waste in North America. They actually process 8 million tons of recyclable material annually. Out of the three companies, Waste…...

Similar Documents

Financial Statements Paper

...Financial Statements Paper Thomas Hastings ACC/290 April,11,2012 Rolland Roup Financial Statements Paper In the accounting world there are four different financial statements. These financial statements provide a very wide amount of information which is very valuable information to internal and external users in many different types of companies. These four financial statements are the balance sheet, income statement, retained earnings and statement of cash flow. These four financial statements form the backbone of financial accounting. (Kimmel, Weygandt, & Kieso, 2009) Each of the four financial statements has its own use’s within accounting and each provides different and very crucial information to its proper user’s. The first financial statement is the balance sheet, the balance sheet shows a picture at a point in time of what your business owns (its assets) and what it owes (its liabilities). The second financial statement is income statements show how successfully your business performed during a period of time, it reports revenues and expenses. The third financial statement is retained Earnings are used to indicate how much of the previous income was distributed to you and the owners of your business in the form of dividends, and how much was retained in the business to allow future growth. The fourth financial statements is statement of cash flow is to show where your business obtained cash during a period of time and how that cash was used. (Kimmel,...

Words: 715 - Pages: 3

Financial Statement Renstatement Paper

...Running head: FINANCIAL STATEMENT RESTATEMENT Financial Statement Restatement Paper Financial Statement Restatement Paper Companies must often restate their financial statements to address certain issues that have occurred within the company including changes in accounting principles, changes in accounting estimates, changes in the reporting entity, and errors in their financial statements. “The FASB classifies changes in these categories because each category involves different methods of recognizing changes in the financial statements” (Kieso, Weygandt, & Warfield, 2007, p. 1153). Zynga is the social gaming company responsible for games including Farmville and Mafia Wars. In August of 2011 the company was faced with restating their financial statements for the first quarter of that year due to the detection of certain errors regarding their stated deferred revenue balances. Restatement On August 11, 2011 Zynga, “restated Q1 revenue to reflect an accounting error in its original IPO registration. The new Q2 revenue figure is $242.89 million, which represents more than a 3% increase over the previously-reported figure” (Primack, 2011). Zynga stated that they initially stated their most current estimate for paying players for the current period. However, they did not adjust their ending balance in the account deferred revenue to reflect estimates for the related sales of prior periods. The company determined that ASC 250 required this adjustment of the ending......

Words: 738 - Pages: 3

Financial Statement Paper

...Financial Statements Paper ACC/290 – Principles of Accounting I May 14, 2010 Adael Acosta Assessment • Individual Assigment: Financial Statements Paper Write a 700- to 1,050-word paper in which you do the following: o Identify the four basic financial statements. o Describe the purpose of each of the four financial statements. o Discuss how the financial statements would be useful to internal users, such as to managers and employees. o Discuss how the financial statements would be useful to external users such as investors and creditors. Format the paper consistent with APA guidelines. Abstract Accounting is a valuable service function designed to provide accurate and timely information to internal and external stakeholders. Those stakeholders rely on four primary financial statements: the income statement, the capital statement, the balance sheet, and the statement of cash flows. Naturally, you begin by studying those four financial statements and the accounting processes that lead to their creation. Those processes include recording financial transactions in journals and then posting to the general ledger. Financial Statements should be defined as journal entries. These entries tell a story about the daily accounting practices and they project the general assets and liabilities of any company. Journal entries must be consistent and must be entered on a regular basis. Investing in reliable accounting software would be a wise decision for any......

Words: 931 - Pages: 4

Financial Paper

...and a growing demand for capital have increased competition within the capital markets for the business of issuers and investors.! This has led stock and derivatives exchanges to change their business models from mutual business entities, run for the benefit of their members, to demutualized corporations, run for the benefit of shareholders Consequently, as for-profit corporations, exchanges have looked to position themselves more competitively in an internationalized securities market. Part of such positioning has included increasing exchange alliances and acquisitions on a global scale. This is highlighted by the recent merger between the New York Stock Exchange (NYSE) and Euronext (the new entity to be known as NYSE-Euronext). With financial markets now spilling across national borders, demutualized exchanges see opportunities for growth and expansion by consolidating internationally. However, these changes have put securities regulators in the position of trying to stay ahead of the curve, as exchanges-often seen as once historic landmarks of national pride-push the limits on cross-border consolidations. Traditionally, "[f]inancial exchanges Copyright © 2007 by Bo Harvey. * Bo Harvey is a J.D./M.B.A. candidate at Duke University School of Law and The Fuqua School of Business. Special thanks is extended to Professor Steven L. Schwarcz for serving as advisor during the writing of this note. 1. See generally Concept Release Concerning Self-Regulation, Exchange Act Release...

Words: 11769 - Pages: 48

Financial Statement Paper

...Financial Statements Paper Brittany Williams University of Phoenix Principles of Accounting I ACC/290 Kelvin Chang November 26, 2013 Financial Statements Paper In the accounting world, there are four basic financial statements that are normally prepared by profit-making organizations. These are balance sheet, income statement, statement of retained earnings, and statement of cash flows. Each of these statements serves a very important purpose in keeping track of the finances for a company. The balance sheet pretty much shows a company’s current monetary position on an exact date. As the name suggests, it is a quick reference for individuals to visually see how the company is balancing their assets, liabilities, and stockholders equity. How is this important? Well a company’s assets are what resources the company currently has at that specific time. Liabilities are the debt a company owes to other people or companies that are still outstanding. Finally, stockholders equity is what the stockholders claim against the company’s assets. The income statement is what shows the results of the company's operations for a set period of time. The income statement also summarizes a company’s revenues (sales) and expenses quarterly and annually for its fiscal year. In short this is what shows the history of the company’s gains, expenses, and losses which compiled together equals out to the company’s final net income for that time period. This final net figure, as......

Words: 774 - Pages: 4

Financial Statement Restatment Paper

...Financial Statement Restatement Paper ***** ****** ACC/537 January 13, 2014 Financial Statement Restatement Paper MicroStrategy, Inc. went public in June 2008. It is a software company that had been identified as, “a successful, growing company with positive net income” (Krishnan & Mintz, 2007). Like many managers, the managers at MicroStrategy, Inc. wanted to make a quick profit by using aggressive accounting techniques that artificially boosted revenues, inflated earnings, and raised the stock price of shares. The stock price rose from $20 to $333 in one year after the IPO. The company announced in March 2000, that they were planning to restate financial results for the fiscal years 1998 and 1999 (Krishnan & Mintz, 2007). The company needed to restate its financial statements due to improperly applying early revenue recognition in fiscal periods. The company had been recognizing revenues earlier than what was allowed under GAAP. The company would hold open contracts that had been signed by customers after the close of the quarter until the company obtained the desired quarterly financial results, the company would undersign the contracts and give them an effective date that was in the last month of the previous quarter (Krishnan & Mintz, 2007). The restatement of MicroStrategy, Inc’s financial statements reduced the companies combined revenues for the years 1998 and 1999 to $247 million down from $312 million. About 83 percent of this change was......

Words: 534 - Pages: 3

Financial Statement Differentiation Paper

...Financial Statement Differentiation Paper Name ACC/561 Date Instructor Financial Statement Differentiation Paper Financial statements arrange financial information into statements that prove to be the financial accounting backbone. The income statement, statement of cash flows, retained earnings statement, and balance sheet arrange the expenses, liabilities, revenues, and assets of a company into formats that provide a clear view of different areas of interest. These areas are of interest to the investors, creditors, and management of the company (Kimmel, 2011). All four of these financial statements prove to be of interest to all three financial statement users in multiple ways. The Four Financial Statements Each of these four financial statements provide insight necessary to keep a company fully functional and profitable. An income statement provides a clear view of how successful the performance of a company was within a period of time through reporting the revenues and expenses within that period. The net income, which is determined through use of the income statement, proves to be valuable information in many different areas of financial interest. The statement of cash flows presents where cash was obtained within a time period and how it was used within the company during that time. This shows how the investing, financing, and operating activities of the company effects the amount of cash at the period’s end. To determine the amount of previous......

Words: 852 - Pages: 4

Financial Statements Paper

...In the following paper, it is discussed how accounting is a strong part of a company. Through research, this paper states the many parts of accounting such as the four basic financial statements and the purpose of accounting. Business is restricted to processes and reports to make decision making with accurate information through the accounting practices of bookkeepers. Through analysis, the following paper, describes a small glimpse of the accounting process and how they relate to each other. Purpose of Accounting The purpose of business accounting is to identify and record activities that will impact the organization or company financially. These activities can include sales, purchases, the interest earned from investments, and acquisition of other capital. Activities like these can be categorized in terms and posted as an accounting record. The accounting cycles typically is recorded in ledgers and journals and is part of the process. Systems and processes are developed by accountants to analyze different transactions. Each transaction that involves the sale of goods and services needs to be recorded in a general ledger which needs to be evaluated and analyze. As they are posted to their specific account, bookkeepers use this function of accounting to help maintain each transaction as debits and credits. Bookkeepers are responsible for specific types of financial activities which are typically used to analyze the value of accrual method of accounting, providing......

Words: 843 - Pages: 4

Financial Paper

...Graduate Research Paper: Mahle Group Debra S. Tacconi BUS 640: The Financial Environment Dr. Alfred Kahl June 01, 2015 Table of Contents Abstract ............................................................................................................................... 3 Introduction ......................................................................................................................... 4 Literature Review................................................................................................................ 4 Analysis............................................................................................................................... 5 Principle 1: Money has a time value ....................................................................... 5 Principle 2: There is a risk return trade off ............................................................. 7 Principle 3: Cash Flows are the Source of Value.................................................... 8 Principle 4: Market Prices Reflect Information .................................................... 10 Synthesis............................................................................................................................ 11 Principle 1: Money has a time value ..................................................................... 11 Principle 2: There is a risk return trade off.................................................................

Words: 4191 - Pages: 17

Financial Paper

...Financial Statement Differentiation Raven Vaughn Accounting 561 November 7, 2011 George Bray Financial Statement Differentiation This paper briefly introduces the four types of documents in a financial statement, the information they contain, and their importance to investors, managers, and creditors. Financial Statements Four documents make up a complete financial statement: income statement, statement of retained earnings, balance sheet, and statement of cash flow (Kimmel, 2011). Income Statement An income statement details the company’s revenues and expenses for a specified time (month, quarter, or year). The items found on this statement are revenues, expenses (salaries, supplies, rent/mortgage, insurance, interest, depreciation), and either net income or net loss. A net loss will show here if the company is spending more than it makes, and visa versa. Investors use the income statement to calculate financial ratios to show the rate of return and viability of the business (Sanco, 2011). Managers use this document to evaluate where the money is going. Statement of Retained Earnings Each financial statement ties into the next, for instance: the retained earnings statement requires the net income from the income statement. Retained earnings are calculated using the amount of dividends paid and the investment income generated. This statement reflects changes in ownership, retained earning balances, and covers the same date range as...

Words: 739 - Pages: 3

Financial Statement Paper

...Financial Statements Paper April T. Worriax ACC/280 February 30, 2011 Michelle Turk CPA Accounting Accounting is one key element to any business or company. Accounting consists of four basic financial statements that a business or company will use. The four financial statements are very helpful to managers, supervisors, investors, creditors, and employees. Accounting is an important part of any company because it provides the information needed for sound economic decision making (“Financial Accounting,” 1999-2010). Accounting identifies, records, and communicates the economic events of a company to interested users (Weygandt, 2008). The first financial statement is the income statement. The income statement shows the results of the company’s operations for a certain time. This statement lists revenues first and then the company’s expenses. After the completion of this financial statement an individual will be able to tell if the company is a net income or a net loss. For instance, if revenue is more than expenses, will be a net income, but if expenses are more than revenue, there will be a net loss (Weygandt, 2008). The second financial statement is the balance sheet. The balance sheet shows a company what is currently happening within the company. It helps to see how the company is balancing...

Words: 754 - Pages: 4

Financial Restatement Paper

...Financial Restatement Paper Financial Restatement Paper University of Phoenix ACC/537 After the introduction of the Sarbanes Oxley Act lots of companies have had to submit financial restatements in their financials. This paper is to examine the financial restatements that have been done by Kodiak Energy Inc. over the past several years due to incorrect reporting on the value of their stocks. Kodiak Energy entered into an agreement with to purchase land from Thunder River Energy in exchange for shares of stock in the Kodiak Energy Company. Kodiak Energy issued seven million shares reported to be worth $2.00 per share. The SEC decided to look into this arrangement and soon discovered that the shares offered by Kodiak Energy were worth $2.50 at the time of the purchase. Upon the findings by the SEC, Kodiak Energy offered to file a misstatement in order to acknowledge the misrepresentation of the worth of the shares. Kodiak Energy had filed their financials incorrectly 3 separate times each time with the incorrect values reported on their 10-K and 10-Q, and in response the SEC was not satisfied to allow a simple misstatement to be done to correct these errors. With the SEC continuing the investigation into the financial records of Kodiak Energy because they felt that they offered to file the restatement too quickly and were trying to hide that this was more than just an error on their part but was......

Words: 606 - Pages: 3

Financial Statement Paper

...Financial Statements paper . ACC/290 September 22, 2011 Financial Statements paper Accounting is an action needed by companies in business. Without accounting and the knowledge of the inner workings of financial statements, a business is doomed to failure. In accounting there are four basic financial statements used for an array of reasons. The first financial statement in accounting is the balance sheet. The balance sheet is used to represent an illustration at a point of what a business owns and owes; these are also known as assets and liabilities (Kimmel, Weygandt, & Kieso, 2011). The next statement used is the income statement. The income statement displays just how successful one’s business performance is during a certain period. The income statement basically shows the revenues and expenses of any business (Kimmel, Weygandt, & Kieso, 2011). After the income statement there is the retained earnings statement. This statement indicates how much of a business’s previous income is distributed to owners by way of dividends. It also shows how much income was retained within the organization to allot for future growth (Kimmel, Weygandt, & Kieso, 2011). The last of the four basic financial statements is the statement of cash flow. The statement of cash flow is used to indicate where a business obtained their cash during a period. This statement also shows how the obtained money is used over a particular period (Kimmel, Weygandt, & Kieso, 2011). These......

Words: 824 - Pages: 4

Financial Paper

...Financial Statements Paper Rafael Caraballo ACC/280 16 May 2011 Ivan Makarov Introduction The principle of bookkeeping is to supply the knowledge that is wanted for sound financial judgment decision. The major reason of monetary bookkeeping is to organize fiscal information that supplies facts about a company’s work effectiveness to outside groups such as a person, company or organization that has invested money in something. Administrative bookkeeping differ with monetary bookkeeping in that administrative bookkeeping is for inside judgment decision and do not have to go behind any regulations issued by normal-set groups. Monetary bookkeeping, on the other hand, is carrying out in accordance with normally acknowledged bookkeeping ethics guiding principles. There are four basic financial statements they include the income statements which is how much money is earned and what are the cost estimates of the company’s income and net loss. The statements of owners’ equity show the first stage and last stage of an owner’s reasonably fair balance and the matter upsetting the owner throughout that time. The balance page exhibit the outstanding amount generated, at a detailed period, of every item, every debt, and owner's fair balance. Statement of cash flows, It determines all currency giving to one of three groups—managing, spending, or control of money—to considered the net difference in currency and then persuades the business period's start and end of......

Words: 728 - Pages: 3

Financial Statement Paper

...Financial Statement Paper Barbara Watson ACC/290 February 1, 2012 Courtney Wilson Financial Statement Paper In any business or organization that is established there has to financial records kept consistently to be as follows; (1) compliant with federal business laws, (2) in accordance with Internal Revenue Service, and last no fraudulent reporting in profit gains. In this paper I will attempt to explain the four basic financial statements, describe their purpose, and the usefulness to both external and internal users. The four basic financial statements of any company or organization are as follows; (1) the income Statement, (2) retained earnings, (3) balance sheet, and (4) statement of cash flow. These statements are usually prepared at a specific time of the year, either on a monthly, quarterly, or yearly basis (Lewis, 2009). . The Income Statement basically shows the fees earned minus operating expenses to show if the company o organization is profitable. The Income Statement uses what we call a matching concept, which is, seeing if the expenses are matched with the revenue that is generated in the same time period as the expense. If the records show that the earning fees are more than the operating expenses, then the company or organization has definitely generated a net profit. However, if the operating expenses are greater than the earning fees than we can consider that company has a net loss The Retained Earnings Statement provides information......

Words: 880 - Pages: 4

Album, které Vás šokovalo | Devil’s Film | Anne of Green Gables Fire and Dew