Management and Organizational Studies 3360A/B Chapter Notes - Chapter 4: Statement Of Changes In Equity, Cash Flow Statement, Retained Earnings

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3360A/B
• Professor: Stacey Hann

Document Summary

Performance: the income statement tells a story about a company"s performance within a specific period of time. ** both refer to statement of cash flows and notes to the financial statements. E. g. choosing which type of depreciation method you will use: income measurement involves the use of estimates, the estimates won"t always be correct, financial reporting bias, dependant on type of company (over-stating/under-stating, gaap. The statement of income and the statement of comprehensive. Discontinued operations: most common type of irregular item, separate piece of the business that has been disposed of, has its own independent cash flows. Separate component: the component must have operations, cash flow, and financial elements that are clearly distinguishable from the rest of the enterprise. It must generate its own net cash flows: a component must be a major line of business or a geographical area.