ACCTG311 Lecture Notes - Lecture 2: Retained Earnings, Financial Statement, Air Canada
22 Feb 2015
School
Department
Course
Professor
Document Summary
To strengthen understanding of the material covered in the lectures and practice applying it in more complex scenarios. To review material in a smaller class setting to allow for more discussion and questions. ** coming to seminars prepared and willing to participate will significantly enhance your learning experience. We will be using westjet as our ongoing example in the seminar materials. Before we can look at the financial statements in any meaningful way, we must first have a basic understanding of the business and the industry in which it operates. Industry: (points all taken from westjet"s annual information form for the 2011 year end, as filed at www. sedar. com) Highly sensitive to general economic conditions and international events. Revenue and earnings are susceptible to weather conditions, fuel prices, competitors pricing, guest demand and industry capacity. Competition for westjet comes primarily from air canada, as well as larger u. s. airlines; in the vacation area transat, sunwing and air canada vacations.
