Class 3 Financial Position & Cash Flows.pdf

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Department
Financial Accounting
Course
MGAC01H3
Professor
Daga Sandra
Semester
Winter

Description
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
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