MGMT 20000 Study Guide - Final Guide: Accelerated Depreciation, Treasury Stock, Accounting Information System
30 Jun 2016
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Four basic financial statements: know each statement a. Reports the company"s revenues and expenses over an interval of time: statement of stockholders" equity b. i. Summarizes the changes in stockholders" equity over an interval of time b. ii. Stockholders" equity = common stock + retained earnings: balance sheet c. i. Presents the financial position on a particular date: statement of cash flows d. i. Measures activities involving cash receipts and cash payments over an interval of time d. ii. Can be classified into three categories: d. ii. 1. d. ii. 2. d. ii. 3. Investing cash flows: given a list of accounts, be able to do basic calculations. Retained earnings account at the end of the period: what are permanent accounts, all accounts that appear in the balance sheet; account balances are carried forward from period to period. Journal entries & adjusting entries: what is the purpose of journal entries, the format used for recording business transactions, what are accrual entries, what are the four types, prepayments a. i.
