Class 3 Financial Position & Cash Flows.pdf

11 Pages
Unlock Document

Financial Accounting
Daga Sandra

MGAC01 Intermediate Accounting IS Daga TOPIC FINANCIAL POSITIONCASH FLOWS TEXTE54 P56 P57 Case IC51 LEARNING GOALS 1 Understand the usefulness of the Statement of Financial Position and its intermediate components 2 Understand the usefulness of the Cash Flow Statement and its intermediate components 3 Be able to use ratio analysis effectively CLASS OUTLINE LEARNING GOAL 1Understand the usefulness of the Statement of Financial Position and its intermediate components AUsefulnessLimitations of the Statement of Financial Position formerly known as the Balance Sheet Useful LimitsB Classifications in the Statement of Financial Position 1Current Assets2 Current Liabilities 3 Longterm AssetsNoncurrent investmentsPropertyplantequipmentIntangible assetsOther assets 4 Longterm liabilities 5 Shareholders equityShare CapitalContributed SurplusRetained EarningsAccumulated Other Comprehensive Income IFRS CURRENT CLASSIFICATIONCURRENT ASSETS CURRENT LIABILITIES 1 Cash 1 Shortterm debt 2 Short term investments 2 Accounts payable 3 Receivables 3Advances from customers 4 Inventories 4 Income taxes payable 5 Prepaid expenses 5 Current portion of longterm debtIndication ofWORKING CAPITAL entitys liquidity Current assets less current liabilities Indication of flexibility in meeting financial demands of THE OPERATING CYCLE CashReceivables Inventories
More Less

Related notes for MGAC01H3

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.