BUSN 70 Chapter Notes - Chapter 14: Inventory Turnover, Starbucks, Net Income
13 Oct 2017
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Accounting = recording, measurement, and interpretation of financial information. Individual who has been certified by the state in which he or she practices to provide accounting services ranging from the preparation of financial records and the filing of tax returns to complex audits of corporate financial records. Liabilities = debts that a firm owes to others. Those that are used or converted into cash within the course of a calendar year. Money that you intend to give away ( similar to debt) Calculated by combining the changes in the revenue, expense, current assets and current liability accounts. Calculated from changes in the long-term or fixed asset accounts. Calculated from changes in the long-term liability accounts and the contributed capital accounts in owner"s equity. Profit margin = 10. 65% nearly 11 cents. So for every in sales, starbucks generated profits after taxes of.
