COMM 101 Lecture Notes - Retained Earnings, Net Income, Accounting Equation
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COMM 101 Full Course Notes
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Class 11: financial accounting: cost structure will having an extra student affect costs of prof, ta, etc, what was the likely reaction to the campbell"s announcement, their share prices increased. $ -> dividends: total assets for coca-cola, about ,000,000,000, billion debt, accounting equation, assets liabilities = shareholders" equity, debt not necessarily bad, leverage borrowing money, making more money. Financial accounting: produced for external stakeholders, focus on historic information, tabulation of financial statements, comply with gaap (generally accepted accounting principles) Income statement like a video, start and stop: balance sheet like a snapshot, assets: what the company owns (cash, equipment, property) Concerned with liquidity (cash, a/r, inventory: how fast physical asset to cash, liabilities: what the company owes (account payable, bonds, bank loans, statement of cash flows. Product profitability statement: sales cogs = gross profit selling and admin = company net income.
