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| Snap shot; Prepare annual, quarterly, monthly; specific time; |
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| Cash; Account Receivable; Inventory; Fixed Assets; Total Assets |
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| Cash; Account Receivable; Inventory |
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| is how we finance those assets |
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| owner's equity/ stockholder equity |
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| Borrow money; issues shares; money from owners |
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| Current liabilities; Account payable; Notes payable; Actual expenses; Long-term liabilities |
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| Does not have value itself; Just difference between assets and liabilities; it does increase and decrease |
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| Liabilities equal to Assets |
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| When bankrupt happen who get pay first |
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| Current Liabilities or Asset |
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| Easy to turn into cash; Quickly turn assets into cash; Without lost of value |
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| Difference of current liabilities and current assets |
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| positive networking capital |
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| Historical value; What you pay for it |
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| Value you record on the books |
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| Book Value (Owner equity) |
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| Value you report on the books |
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| True value; The price at which the assets liabilities or equity can actually be bought or sold |
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| To know the difference in book value and market value |
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| total shareholder equity in which is book value; Market value of apple shareholder equity |
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| Market value of apple shareholder equity |
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| Stock price times outstanding shares |
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| The only accurate number is___________ for market and book value |
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| We cannot accurately get Market Value of _________ and market value ____________; book value of _____________ and book value of |
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| Which is more important to the decision making process |
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| Video tape; specific period time; summarizes your operates; reports revenues first; deduct any expense; |
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| Net income is divide into two parts which are |
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| Dividends; Additions to retained earning |
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| First part of Income statement |
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| Revenues minus Cost of Goods equal to Gross Margin |
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| Minus Administer expense minus R &D expense minus Depreciation equal to EBIT |
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| minus taxes minus interest equal net income |
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| the amount that your assets lose over time certain |
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| Depreciation of intangible assets |
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| Positive income does not mean |
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| Recognize revenue when it fully earned; Match expenses required to generate revenue to the period of recognition; Pure accounting term; Revenue is match with expenses in same income statement you have to revenue incur have to report expense |
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| Expenses charged against revenues that do not affect cash flow; Depreciation |
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| Same every month/ salary; Long life; Tangible; Intangible |
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| Cost that are changing with year production; Wages, bonus, compensation |
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| Smoothing earnings/GAAP leaves wiggle rooms |
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| Manager do not like earning information; Managers like earnings stable; Managers move some of earnings to different years |
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| Wiggle Room; inventory management |
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| Less than one year; Paid within a year; Listed before long-term; Account Payable |
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| Debt; Bonds; Bond holders |
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| Current asset minus current liabilities |
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| Cash will come available over |
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| quickly sold without significant loss of value |
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| cannot quickly convert to cash without decreasing price |
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| True Asset; Amount of cash would get (sold); Manager and investor; Owner equity |
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| Balance sheet(asset); Not actually worth; GAAP |
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| Raw material, labor expenses, manufacturing overhead |
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| Particular time period; Selling/general/administrative; Salary |
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| Largest cash flow; Tax bill---tax code |
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| taxable income; % of income |
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| 1 tax rate; A+R & MTR Same |
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| Average vs Marginal tax rates |
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| ATR never goes decrease; MTR can go decrease; Relevant finance decision; New cash MTR |
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| difference between number of dollar (in and out); Financial account statement; Cash flow from asset equal to cash flow to creditors plus cash flow to stockholder |
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| Financial account statement |
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| Cash flow to creditor + cash flow to stockholder |
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| Operating cash flow; capital spending; Change in networking capital; Day to day activities; No operating expense; Some portion-reinvested; Amount spent on networking capital |
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| Revenues --- cost [no include depreciation or interest],[do include taxes] |
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| answer minus taxes equal to operating cash flow |
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| Fixed assets minus money received from sale fixed asset |
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| Earning net fixed asset minus beginnings net fixed asset |
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| plus depreciation equal to net investment in fix asset |
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| Change in Networking capital |
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| Ending network capital minus beginnings net working capital equally to change in networking capital |
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| Interest paid minus net borrowing equally to cash flow to creditors |
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| the accounting statement that measures the revenues, expenses and net income of a firm over a period of time |
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| Tax rate that applies to the next dollar of taxable income that a firm earns |
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| invoice from a supplier for inventory purchase |
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| included in networking capital |
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| Making a payment on a long-term debt |
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| Decrease the networking capital of a firm |
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| The market value tends to provide a better guide to the actual worth of an asset than does the book value |
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| Assets are listed in descending in order of liquidity |
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| Revenues---recognition principles |
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| The earnings process is virtually complete the value of a sales can be reliably determined |
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| Can still manipulate their earnings to some degrees |
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| Negative cash flow to stock holder |
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| Received more from selling stock than it paid out to shareholders |
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| Ending net fixed assets minus beginning net fixed assets plus depreciation |
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| Positive cash flow from asset |
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| Indicates that a firm has generated sufficient internal cash flow to finances its entire operations for the peirod |
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