RSM219H1 Lecture Notes - Cash Flow Statement, Asset, Financial Statement

• School: UTSG
• Department: Rotman Commerce
• Course: RSM219H1
• Professor: Alexander Edwards

Document Summary

Financial information is provided by general purpose financial statements, which are used to access the financial position and performance cost, current, and future of a company. Investors, lenders, and other creditors often use profit reported on the income statement to help estimate future cash flows and, in particular, the timing and certainty. Profit adjusted to it in regular adams is known as sustainable income the level of profit that is most likely to be of taint into which. Sustainable income differs from actual profit by the amount of investment revenues, expenses, games, and losses that are included in profit. To help determine sustainable income, even if irregular items are reported separately on the financial statement. Two common types of irregular items: discontinued operation and changes in accounting policy. Discontinued operation refers to the disposal, work and availability for sale, of a component of an entity.