MGT120H5 Lecture Notes - Lecture 1: Net Income, Conceptual Framework, Share Capital
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MGT120H5 Full Course Notes
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Statement of changes in equity - understand properly: balance sheet - statement of nancial position (shows what the company owns) Account payable - bought something now and they"ll pay for it later (liabilities are what you owe) Total assets = total liabilities: cash ow - money coming in & out. Investing activities is negative because it is where you spent your money (usually buying land: income statement - how well the company performed. Non pro t - rely upon contribution from companies, govt. grants. Corporations - owned by shareholders and run by board of directors. Income statement - revenue minus all costs of business, then check did rev > costs. Statement of retained earnings - private corp, net income - dividends, doesn"t have to show change in common shares. Statement of change in equity - public corp, show changes in retained earnings and change in common shares. Common shares - how much has been contributed to the business.