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Class Notes (1,030,243)
CA (590,567)
UW (21,323)
AFM (1,041)
AFM101 (122)

Class Notes for AFM101 at University of Waterloo

Introduction to Financial Accounting

AFM101 Lecture Notes - Lecture 21: Retained Earnings, Preferred Stock, Stock Split
24HR
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Shares Repurchased by the Company Reasons why a company repurchases its own shares 1. The company needs the repurchased shares to fulfill future share issuance commitments, such as those related to share option plans and c...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 20: Legal Personality, Share Capital, Retained Earnings
24HR
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Chapter 9 - Shareholders Equity Corporations Corporations differ from proprietorships and partnerships because of the following features: 1. Separate legal entity 2. Continuous life and t...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 19: Effective Interest Rate, Book Value, Operating Lease
24HR
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Discounts and Premiums Over the life of the bond issue, the discount and premium accounts are amortized In the case of discounts: the discount is allocated to interest expense through amort...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 18: Contingent Liability, Promissory Note, Current Liability
24HR
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Chapter 8 - Liabilities Liabilities are debts or obligations arising from past transactions that will be paid with assets or services in the future There are two types of liabilities on the classified Bala...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 17: Agrium, Equity Method, Bruce Power
24HR
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Chapter 7 - Investments & the Time Value of Money Key Terms Investor: Entity that owns corporations shares Investee: Corporation that issues share Accounting for Non-strategic Investments The investor usua...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 15: Asset, Land Development, Capital Expenditure
24HR
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Chapter 6 - Property, Plants and Equipment, and Intangible Assets Long-Lived Assets Long-lived assets are actively used in operations to generate future benefits beyond one year ...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 16: Book Value, Product Return, Intangible Asset
24HR
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Depreciation for Partial Years Companies purchase plant assets whenever they need them, not just at the beginning of the year Thus, companies must compute depreciation for partial years ...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 14: Inventory Turnover, Weighted Arithmetic Mean, Gross Profit
24HR
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Inventory Costing Methods To compute COGS and the cost of ending inventory still on hand, we must assign unit costs to the items using 3 generally accepted inventory methods: 1. Specific unit cost ...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 13: Gross Profit, Income Statement, Current Asset
24HR
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Chapter 5 - Inventory & Cost of Goods Sold Merchandisers vs. Service Entities Income Statements Merchandising companies sell inventory and service companies do not As a result, merchandising co...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 12: Operating Expense, Income Statement, Cash Flow
24HR
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Uncollectible Accounts Receivable Companies rarely collect all of their A/R So, companies must account for their uncollectible A/R (i.e., bad debts) Benefits of selling on credit Customers that do n...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 9: Money Market Fund, Cash Cash, Bank Reconciliation
24HR
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Chapter 4 - Cash and Receivables Accounting for Cash Companies usually combine all cash amounts into a single total balance sheet called Cash & Cash Equivalents Cash is the most liquid asset because...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 8: Free Cash Flow, Accrual, Cash Flow
24HR
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Indirect Method Concept Indirect method: The operating section of the statement of cash flows begins with net income (accrual income) taken from the income statement and is followed by adjusting for deferrals and accrua...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 7: Money Market Fund, Cash Cash, Cash Flow
24HR
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The Statement of Cash Flows On the statement of cash flows, the definition of cash includes: Cash Cash equivalents E.g. treasury bills, money market funds, etc Cash equiva...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 6: Current Liability, Balance Sheet, Retained Earnings
24HR
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Preparing The Financial Statements The Financial Statements The Income Statement is recorded first because it reports net income or net loss, which is needed to prepare the statement of Retained Earnings T...

Accounting & Financial Management
AFM101
Haihao Lu
AFM101 Lecture Notes - Lecture 5: Costco, Revenue Recognition, Matching Principle
24HR
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Chapter 3: Accrual Accounting and the Financial Statements Accrual vs Cash-basis Accounting Cash basis Recognizes revenues when cash is received, and Expenses when cash is paid, regardless wh...

Accounting & Financial Management
AFM101
Haihao Lu
Permachart - Marketing Reference Guide: Statement Of Changes In Equity, Retained Earnings, Cash Cash

permacharts MT FINANCIAL STATEMENTS • Financial statements are documents that are BALANCE SHEET (B/S) STATEMENT OF RETAINED EARNINGS (SRE) ...

Accounting
ACTG 2010
All Professors
Accounting II - Reference Guides

Advance your knowledge with our advanced Accounting II! This companion Guide to Accounting I develops the reader’s understanding of balance sheets before moving into an effective summary of how assets are treated for accou...

Accounting
ACTG 2010
All Professors
Cost Accounting - Reference Guides

Specialized Accounting quick reference information in one handy place! This Guide provides specialized reference material that flows naturally from the contents of its companion Guides Accounting I and Accounting II. The t...

Accounting
ACTG 2010
All Professors
Administrative Law - Reference Guides

Administrative law directly influences the life of every American citizen. All local, state and federal agencies operate pursuant to general Administrative law principles. An understanding of all administrative law functio...

Business Admin - Mgt
MGMT 10
All Professors
Organizational Behavior - Reference Guides

The systematic study of individual and group behavior within organizational structures is outlined in this coordinated Guide. Theories of leadership and individual behavior are related to the foundations of group behavior ...

Psychology
PSYC 302
All Professors
Introduction to Business Law - Reference Guides

Business law, sometimes referred to as corporate-commercial law, is a system of governance and regulations in connection with the creation, existence and dissolution of businesses. Today, Canadian businesses are governed b...

BLAW - Business Law
BLAW 464
All Professors
Management - Reference Guides

The complex aspects of Management are made clearer in this Guide. This powerful Guide provides comprehensive assistance to anyone who desires a deeper appreciation of basic Management principles. The fundamentals of organi...

BA - Business Administration
BA 2283
All Professors
Corporations - Reference Guides

Corporations are explained with clarity and precision in this informative Guide! This guide helps to remove some of the confusion that popularly exists concerning the purpose, the extent, and the legal effect of different ...

BA - Business Administration
BA 2283
All Professors

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