MGMT 20000 Lecture Notes - Lecture 3: Operating Cash Flow, Retained Earnings, Cash Flow

• School: Purdue University
• Department: Management
• Course: MGMT 20000
• Professor: Frank Kane

Document Summary

Financial reports: income statement, statement of changes in equity, statement of cash flows, balance sheet. Report on revenue and expenses over an interval time. Assess the company"s ability to earn profit from running its operations. Statement of operations is used if a company reports a loss. Determine how financial accounting information is communicating through financial statements. Determine how financial accounting is communicated through financial statements. Measures activities involving cash receipts and cash payments over an interval of time. Cash transactions involving purchase and sale of long- term assets. Borrow or paying back money goes in finance. Determine how financial accounting information is communicated through financial statements. Presents the financial position of the company on a particular date. Describe the role that financial accounting plays in the decision making process. Explain the term generally accepted accounting principles (gaap) and describe the role of gaap in financial accounting.