BUS 251 Study Guide - Final Guide: Dividend, Perpetual Inventory, Cash Flow Statement

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 251
• Professor: Susan Bubra

Document Summary

Differences between comprehensive income and net income (184) Public companies must report comprehensive income in their financial statements: Comprehensive income the total change in shareholder"s equity (or net assets) of the enterprise from non-owner sources [ci = net income + other comprehensive income] certain gains and losses should be reported as comprehensive not net income. Typical transactions for each category of cash flows (212) Cash flow patters and what they mean (228) Two ways to estimate bad debts (282) know difference between 2. Percentage credit method credit sale x % (based on industry date) Aging account receivables method sub totals x % then total all beginning = bad debts. Types of inventory: raw materials, work in process, finished goods. Fifo inventory affects cogs and values on balance sheet. What are the differences between cost model and revaluation model when determining the amount at which ppe will be reflected in the statements of fp (363)