UGBA 10 Lecture Notes - Lecture 14: Financial Statement, Income Statement, Certified Public Accountant

• School: Berkeley
• Department: Business Administration Undergraduate Program
• Course: UGBA 10
• Professor: Banks Cristina

Document Summary

Understand the different roles accountants play in business. See what information the users of accounting get from companies. Assets = debt + common stock investments (ie. stockholder"s equity) It collects, analyses and communicates financial information. (which is the recording of accounting transactions) Financial statements are audited by cpas, must be prepared under the direction of the company"s management. Salaried accountant hired by a business to carry out its day-to-day financial. Is a systematic examination of a company"s accounting system and transactions. Any economic resource expected to benefit a firm/individual by allowing them to. Owner/stockholders" equity paid all of its liabilities. Amount of money that owners would receive if they sold all of a firm"s assets and. Financial statements that describe a firm"s yearly/quarterly cash receipts and. Investment cash flows to buy new assets (us. neg. ) Revenues : flows of value into the company from selling goods and services.