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Class Notes for AFM123 at University of Waterloo (UW)

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UWAFM123Seth BouwersWinter

ARBUS102 - Pt.1 Mangement The course ARBUS 102 is split into two very distinct sections; accounting and management. This study contains all the lecture notes and powerpoint slides. As well, the entire textbook 'Accounting Information for Managers' is summ

OC1746612 Page
16 Oct 2011
217
Three main business activities: operating: day-to-day events that occur when running a business (example: Accounting is the process of capturing and re
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UWAFM123David LinFall

AFM123 Lecture Notes - Lecture 1: Cash Flow, International Financial Reporting Standards, Legal Personality

OC5077612 Page
17 Sep 2016
10
Owned by one person, easy setup, owner has full liability. More than one person, partners are personally liable for business debts. Separate legal enti
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UWAFM123Jiye LiWinter

AFM 123 Lecture 1: AFM 123 Managerial Accounting Day 1

OC5422385 Page
19 Aug 2016
5
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UWAFM123David LinFall

AFM123 Lecture Notes - Lecture 4: International Accounting Standards Board, Financial Audit, Financial Statement

OC5077613 Page
29 Sep 2016
9
3 things need to exist for accounting fraud to exist (the fraud triangle) Accounting and financial statement prep for small companies applies to all co
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UWAFM123Mohsin BashirWinter

AFM123 Lecture Notes - Lecture 1: Retained Earnings, Income Statement, Financial Statement

OC23328991 Page
23 Feb 2018
0
Describe various organizational forms and business decision makers. Sole proprietorships are owned by one individual, are relatively inexpensive to for
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UWAFM123David LinFall

AFM123 Lecture Notes - Lecture 6: Accounts Receivable

OC5077612 Page
6 Oct 2016
12
Lecture 6 - reporting and interpreting receivables, bad. Amount of credit that will not be collected. Reports the estimated amount of this periods cred
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UWAFM123David LinFall

AFM123 Lecture Notes - Lecture 7: Capital Cost, Income Statement

OC5077613 Page
6 Oct 2016
8
Resources owned by a business to produce goods or services sold to customer. Tangible assets (aka fixed assets or property, plant, and equipment) Intan
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UWAFM123David LinFall

AFM123 Lecture Notes - Lecture 2: Business Cycle, Accounting Equation

OC5077611 Page
27 Sep 2016
11
Lecture 2 - reporting on the balance sheet. Shows subtotals for current assets and liabilities (within a year/ business cycle) Shows whether or not ass
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UWAFM123David LinFall

AFM123 Lecture Notes - Lecture 3: Income Statement, Retained Earnings, Accrual

OC5077611 Page
27 Sep 2016
6
Remember b/s : assets = liabilities + equity. Remember i/s: revenue - expenses = net income. Equities = contributed capital (c/c) + ending retained ear
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UWAFM123Peter BlakeWinter

AFM123 Lecture Notes - Lecture 7: Worth It, Opportunity Cost, Fixed Cost

OC3063414 Page
26 Oct 2015
21
Focus on managers and the information they need to run their business successfully (sales managers, production managers, etc) Emphasis is on the result
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UWAFM123David LinFall

AFM123 Lecture Notes - Lecture 5: Net Income, Finished Good, Inventory Turnover

OC5077612 Page
29 Sep 2016
8
Lecture 5 - reporting and interpreting cost of goods. Manufacturing companies hold raw materials, work in process inventory, finished good inventory. C
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UWAFM123Peter BlakeWinter

AFM123 Lecture Notes - Lecture 4: Accounts Receivable, Net Income, Retained Earnings

OC3063417 Page
26 Oct 2015
35
Inventory account on balance sheet in current assets. Cost of goods sold in income statement right after sales. While they"re with us it"s inventory bu
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