I don’t understand this Accounting question and need help to study.
7-2 Final Project Milestone Three: Leases and Changes in Financial Position Assignment
- What are the differences between operating and capital leases?
- Describe the particular leases of your company based on the liability section of your company’s balance sheet.
- What impact have the leases had on the company’s financial statements for the most recent year?
- Discuss the advantages and disadvantages of leasing a building versus purchasing one.
VI. Statement of Changes in Financial Position
- From the perspective of an investor, determine whether or not you would invest in your chosen company based on the company’s statement of changes in financial position (SCFP). Support your opinion.
- Review the company’s SCFP for any concerns that may need to be addressed. As controller of your company, prepare a memo to your CEO, giving a summary report for possible recommendations.
For additional details, please refer to the Milestone Three Guidelines and Rubric document.