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MGCR 211 Chapter 11 Notes.docx

5 Pages

Management Core
Course Code
MGCR 211
Karen Zajdman- Borden

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MGCR 211 Chapter 11 Notes 4/2/2012 6:09:00 AM I. Chapter 10 A. Leases 1. Capital/Finance Lease a. Asset on Balance sheet = Capital Lease b. Liability on Balance Sheet = Lease Payable 2. Operating Lease a. Does not meet any of the criterion for capital asset. b. Use GAAP percentages with IFRS 5 criterion II. Ownership A. Share Capital st 1. Preferred shares (shown 1 on balance sheet) a. Dividends are paid to the preferred shareholders first b. Priority to preferred shareholders upon liquidating the corporation c. No voting rights d. Types: i. Cumulative  Dividends not declared in one year are called “dividends in arrears” = they will be paid in the future when corporation has the funds. ii. Non-cumulative  Undeclared dividends do not become “dividends in arrears”, rather dividend is lost. iii. Convertible shares  Can convert from preferred share to common share iv. Redeemable  Corporation has the right to call in or buy back shares at a predetermined date and price. v. Retractable  Shareholder has the right to force the corporation in or buy back shares at a predetermined date and price. 2. Common shares III. Dividends A. Two types: 1. Cash Dividend a. The Board of Directors decide whether or not to pay dividend to share holders b. They need to first look at: i. R
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