DQ 6.1‚ 6.2‚ 6.12‚ 6.13‚ 7.1 P6.9‚ P6.11‚ p7.7‚ P7.9 * 6.1 balance sheet income statement statement of cash flow * 6.2 to disclose the information about the company that may effect future decisions‚ but is not necessarily included in financial statements 6.12 asset must be from a past transaction must have future economic benefit control by the entity 6.13 must have a present obligation obligation involves economic cost in the future * * 7.1 no measurement of environmental
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How are the income statement and statement of cash flows used to make business decisions? The income statement reflects the company’s financial performance by showing how much money was generated (revenue)‚ how much was spent (expenses)‚ and the difference (profit) between the two over a period of time. It is divided into the operating and non-operating sections. It can also tell how much money shareholders would receive if the company were to distribute all of its net earnings. The cash flow
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Owner’s equity can increase through: Owner contributions and/or Net income Owner’s equity can decrease through: Owner drawings (10 - 15 min.) E 1-24 Req. 1 Net income for American Express Services (AES) is $7‚000‚000‚000. Revenues – Expenses = Net Income $21‚000‚000‚000 - $14‚000‚000‚000 = $7‚000‚000‚000 Req. 2 The owner’s equity increased during the year by* $7
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persons that include enterprises‚ persons‚ assets and income-expenses. Then‚ they are recorded in their respective ledger accounts‚ such as debtors’ and creditors’ accounts‚ land and building accounts; commission received accounts‚ and rent account. 4. Summarizing Financial Transactions all financial transactions are summarized in this step of accounting process. They are summarized by preparing a trial balance. Preparation of trial balance helps to prepare final accounts which disclose the profit
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Brochure More information from http://www.researchandmarkets.com/reports/641211/ Apollo Food Holdings Berhad Description: Quantitative analyses of financial statements (Income Statement‚ Balance Sheet and Sources of Capital)‚ extensive ratio tables (Accounting‚ Asset Utilization‚ Employee Efficiency‚ Fixed Charges Coverage‚ Leverage Analysis‚ Liquidity Analysis‚ Per-share Data and Profitability Analysis) and proprietary Wright Quality Rating analyses tables. The Wright Quality Rating‚ a measure
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available from year 2008 • Receipts from customers • Proceed from Interest and bill discounts received • Proceed from sales of plant and equipment • Proceed from issue of equity securities In the beginning of 2009 financial year‚ the company has a balance of $123‚055‚000‚ where the total increase in assets for the year 2009 from year 2008 was only $125‚816‚000. Hence company has not borrowed
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Quiz 1: 50 points – Due November 8‚ 2008 at Midnight Each question is worth 3.33 points 1. Financial statement ratios support informed judgments and decision making most effectively: a. when viewed for a single year. b. When viewed as a trend of entity data. c. When compared to an industry average for the most recent year. d. When the trend of entity data is compared to the trend of industry data. 2. When comparing entity financial ratios with industry ratios: a. it should be assumed
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I really enjoyed Dr. Monica Smith’s lecture on what she does here at the college‚ and I also loved how the conversation progressed throughout the time that she was with us. It was enlightening to know what she does on the campus‚ and how she has already implemented changes to make the help make the campus more inclusive. Based on my experience with the previous Director of Diversity‚ I was never really sure what the individual in that position actually did. However‚ I learned that what she does
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hypothesis and its implications on the information perspective of accounting. As information perspective was later replaced by the measurement perspective‚ we will discuss recent accounting measurement issues‚ including fair value accounting and off-balance sheet liabilities. Positive accounting theory‚ earnings management‚ executive compensation and economic consequences of standard setting will be covered in the last part. Financial Accounting Theory is a rigorous subject requiring not only accounting
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To put it simply‚ in financial terms‚ to maximize shareholders wealth means to maximize purchasing power. Throughout the years‚ we have learned that markets are most efficient when the company is able to maximize at the current share price. Every company’s main goal should be to strive to maximize its value to every single one of their shareholders. Common stock represents the value of the market price‚ and it also gives the shareholder an idea of the different investment‚ financing‚ and dividend
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