In this project, students will prepare financial statements for your business, giving them a learning opportunity and providing you with an opportunity to assess talent for your hiring pipeline. For this opportunity, we are seeking companies that have one service rather than sales, as it will be more simple to prepare the financial statements.

Final deliverables will consist of a financial statement report that includes an income statement, a statement of owner’s equity, and a balance sheet. The report should address the following:

• Does the company have a net profit or a loss? What is causing the profit or loss?
• Are the assets greater than the liabilities or vice versa?
• Does the company have a favourable capital amount?
• If the company were to suffer a loss, how would it affect the capital account?