earnings‚ accumulated profit‚ accumulated income‚ accumulated surplus‚ earned surplus‚ undistributed earnings‚ or undivided profits. Profit and loss account is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It indicates how the revenues (money received from the sale of products and services before expenses are taken out‚ also known as the "top line") are transformed into the net income (the result after all revenues and expenses
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I.Issues Why does net income not equal cash flows? Why do we need accrual accounting? (Why do not we fire all accountants and just publish summary bank statements) Why do the differences between owners’‚ players’‚ GAAP and truth number exist?(Can accounting numbers be neutral representations of what happened? What happens if a retired non-roster player (e.g. Joe Portocararo) returns to the active roster while continuing to earn the same money promised him in his guaranteed contract? Of what
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Financial Statements Management’s discussion and analysis year ended December 31‚ 2011 Consolidated Financial Statements year ended December 31‚ 2011 Notes Statutory Auditors’ report on the Consolidated Financial Statements 3 4 19 25 108 Corporate financial statements Corporate financial statements management report issued by the Board of Directors Corporate financial statements Notes on the corporate financial statements Statutory Auditors’ report on the annual financial statements 111 112
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Revenue Service 2. Trying to determine whether the company can pay its obligations. (C) Creditors 3. Trying to determine whether an advertising proposal will be cost-effective. (B) Marketing Manager 4. Trying to determine whether the company’s net income will result in a stock price increase. (A) Investors in common stock 5. Trying to determine whether the company should employ debt or equity financing. (D) Chief Financial Officer Do It! 1-1 Identify each of the following organizational characteristics
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Chairman’s report Chief Executive’s report The illusion of simplicity Carl’s Jr KFC operations Pizza Hut operations Starbucks Coffee operations Board of Directors Consolidated income statement 02 03 05 07 12 14 16 18 20 22 24 Statutory reports Financial statements Auditors’ report Shareholder information Statutory information Statement of corporate governance Corporate directory Financial calendar 26 62 63 65 68 71 72 Restaurant Brands New Zealand Limited is a corporate franchisee that operates the New
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EXECUTIVE SUMMARY Statement of Purpose The purpose of this case study is to help Airborne Express with its strategy formulation and implementation. Statement of the Problem and Objective Problem: Decline in the market share of Airborne Express in the volume of overnight deliveries. Objective: To become one of the top three companies in the express carriers industry. Alternative Courses of Action ● Not compete with established competitors like FedEx and UPS‚ and stress the reliability
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Applying your understanding of the relationships among the financial statements: Question 1 25 marks The assets and liabilities of Toronto Service Inc. as of December 31‚ 2008‚ and revenue and expenses for the year ended December 31‚ 2008 are listed below: Accounts Payable|$21‚000||Property tax expense|$5‚000| ||||| Accounts Receivable|25‚000||Rent expense|3‚000| ||||| Advertising expense|10‚000||Salary expense|85‚000| ||||| Building|140‚000||Salary payable|12‚000| ||||| Cash|10‚000||Service
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Overview: 2Q2013 1 CORPORATE OVERVIEW | 2Q2013 Forward looking statements ………………..……………………………………. Certain matters being discussed by Local Corporation’s management today include forward looking statements which are made pursuant to the Safe Harbor provisions of section 21-E of the Securities Exchange Act of 1934. Investors are cautioned that statements which are not strictly historical statements‚ including statements concerning future expected financial performance‚ management objectives
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the future. Liabilities: debts that are owed to creditors. Equity: the owners claim to the assets of the business. Retained Earnings: capital earned by profitable operations of a corporation that is not distributed to stockholders. Net Income: the result of operations that occurs when total revenues are greater than total expenses. Revenues: amounts earned from delivering goods or services to customers. Expenses: the cost of selling goods or services. Steps to Analyze a Transaction
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long-term debt O Purchase of equipment O Collection of customer’s account F Issuance of common stock I Purchase of another company F Payment of dividends O Sale of equipment Brief Exercise 12-4‚ Direct versus Indirect Method Direct‚ Indirect I Net income I Increase in accounts receivable D Collections on accounts receivable D Payments on accounts payable I Decrease in accounts payable I Depreciation expense I Gain on early retirement of bonds D Cash Sales Brief Exercise 12-5‚ Direct Method 1. $3
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