MGT120H5 Lecture Notes - Cash Flow Statement, Financial Statement, Income Statement
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MGT120H5 Full Course Notes
Verified Note
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Document Summary
Jan 7,2014: owner & creditors provide the funds, funds used by managers of company to buy equipment, inventory and other assets, managers develop plans and set goals (e. g. to make profit) Purpose: to provide financial info for decision making. Less: expenses cost of running business (salaries, advertising, etc) Operating, investing and financing activities shows where cash came from and where spent. Assets = liabilities + owner"s equity (e. g. ,000 car = ,000 loan (creditor) + ,000 (owner)) Shows financial position of company @ point in time: cash = used to buy equipment, inventory, other assets.
