Financial Report- Halliburton Company - Essay Example

that participated in auditing Halliburton Company were KPMG LLP, Auditors included through there auditing conveyed that the company had to fully disclosure its financial statements. The public companies must be audited because most of them engage in corruption and misuse of public fund. Therefore they must be audited to give out assurance. 5. Halliburton Company used cash basis accounting. From its Consolidated Statements of Cash Flows it has shown clearly that operating activities amount $ 3654, investment activities shown that , $ (3,688) and the financial activities amounted $( 9172).

These activities show that the transaction was in cash basis. 6. The following were items that accompanied Halliburton company financial statement: accounting policies description of the company which helps to the investors to evaluate their financial stability through calculation of assets and liabilities. The people who invested in Halliburton Company are assured of high profit either in long term and short term periods. Also they are assured of proper record keeping (Risdon, & Alvarez2011). 7. Halliburton annual report differs from one another in a way that they need reconciliation statement.

In compressive income statement if differs with cash flows statement. In order for them to balance, they articulate the following transaction was required. 9. Working capital can be defined as a financial analysis which characterizes operation available to a company, organization or other entities such as public and government entities or private (Broody, 2004). Liquidity ratio establishes a relationship between cash and other current asset to n current obligation. In Halliburton company , it has his current ratio which it may leads to idle assets that earn nothing and also may lead to theft in small quantities (Pinto, 2010). 10. For the two recent years (2012 and 2011), are Halliburton company’s assets where financed by debtors or the owner’s equity?

Explain and