BUSI 101 Lecture Notes - Lecture 1: Income Statement, Limited Partnership, C Corporation

• School: UNC
• Department: Business Administration
• Course: BUSI 101
• Professor: C J Skender

Document Summary

Financial accounting- conveyance of financial information to external audiences so they can make good decisions. Forms: proprietorship: one-person show, partnership: two or more, c corporation. Retained earnings: limited partnership, s corporation, llc. Why buy shares of stock: 1. Return: [(eoy (end of year) price boy price) + annual dividends] / boy. [(eoy price boy price) + annual dividends] / boy price. Practice: [(114-100) + 2] / 100 = 16, [(188-200) + 4(1. 15)] / 200 = -3, [(328-300) + 2] / 300 = 10, [(424 400) +4(6)] . Ex: you purchase shares on 10/1 for /share, a quarterly div was declares and paid in nov @ Kevin burns: accounting is the backbone of any business major in college: likes liquid assets (cash, bonds, etc, ethics. Cpa: education, experience, pass the cpa exam. Gaap > fasb (financial accounting standard board: gaap > rules, ifrs > principles.