ARBUS200 Lecture Notes - Lecture 15: International Financial Reporting Standards, Cash Flow Statement, History Of Google

• School: University of Waterloo
• Department: Arts and Business
• Course: ARBUS200
• Professor: Sebastian Siebel- Achenbach

Document Summary

W8l1: obtaining capital (investment) funds a challenge as comparatively scarce. Two fundamental types of accounting: managerial (most governments included), financial, financial accounting is the big picture", external users, such as investors, creditors, banks, regulatory agencies; Internal users for strategic purposes: addresses: liquidity, profitability, efficiency, stability i. e. overall financial viability, financial accounting merely process of classifying and recording business- related values (revenues and costs/expenditures), weakness is to believe that this is entire image. What about intangibles, like morale, confidence, agility, technique, unique knowledge: two professional standards: Pro forma projections of financials (ex. Big three" financial statements: balance sheet ( snapshot" of fundamental historic position); Assets = liabilities + equity, or assets liabilities (net. Assets always recorded at cost, not fair value. Assets include: cash, accounts receivables, property plant, equipment (p. p. e), items paid for in advance (insurance, security deposits) Divided between current assets and long term (fixed e. g. plant, property, and equipment intangibles: income statement (profit-loss for year);