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Corporate Financial Reporting
Corporate Financial Reporting
8
Accounting
Graduate
09/02/2014

Additional Accounting Flashcards

 


 

Cards

Term
What are the two ways you can write the accounting equation?
Definition
Assets = Liabilities + Owner's Equity
Assets - Liabilities = Owner's Equity
Term
What are the three ways you can finance a business?
Definition
  • Debt/Liabilities
  • Internal Equity: Sell Stock
  • External Equity: Income from operations
Term
GAAP requires ___ years of balance sheet records, and ___ years of your income statement records.
Definition
TWO; THREE
Term

     ___________, Beginning

+  _________ for year

-  _________ for year

___________________

____________, Ending

Definition

Retained Earnings;

Net Income;

Dividends;

Retained Earnings

Term
_______________ is the only financial statement that shows a POINT in time. All others cover a _______ of time.
Definition

Balance Sheet;

Period

Term
How do you determine the percent of owner financing of a company?
Definition
Equity/Assets
Term
Organization's planning activities shape three major business activities. They are:
Definition
  1. Financing
  2. Investing
  3. Operating
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