AFM101 Lecture Notes - Cash Flow Statement, Cash Cash, Retained Earnings

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AFM101 Full Course Notes
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AFM101 Full Course Notes
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Objectives of financial statements: - used by businesses as the primary means to communicate financial information to parties outside the organization. Managers use and interpret financial statements when making business decisions. The player buy a portion of the company to earn money: cash payments dividends, sell their share at higher price. Collect cash from customers and pay supplies. Accounting is a system that collects and processes (analyzes, measures, and records) financial information about an organization and reports that information to decision makers. Managerial/ management accounting: developing accounting information for internal decision makers. (detailed plans and continuous performance reports -> internal decision makers -> managers) Financial accounting: accounting for external decision makers. (periodical financial statements and related disclosures -> external decision makers -> creditors, investors, suppliers, customers) The four basic financial statements: balance sheet, income statement, statement of retained earnings, cash flow statement.

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