BUS 251 Study Guide - Comprehensive Final Exam Guide - Financial Statement, Retained Earnings, Investment

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 251
• Professor: All

Document Summary

Chapter 1 overview of corporate financial reporting. Internal users: management, external users, shareholders, board of directors, and potential investors, creditors, regulators, taxing authorities, other corporations, including competitors, securities (stock) analysts, credit-rating agencies. Loans can be short term or extend over several years. Le(cid:374)ders (cid:374)eed to assess (cid:272)o(cid:373)pa(cid:374)y"s a(cid:271)ility to ser(cid:448)i(cid:272)e the load: look at cash flows the company generates through its operations. I(cid:374)terested i(cid:374) a(cid:373)ou(cid:374)t of (cid:272)o(cid:373)pa(cid:374)y"s i(cid:374)(cid:448)e(cid:374)tory, equipment, buildings, or land may be pledged as security by the borrowing (cid:272)o(cid:373)pa(cid:374)y i(cid:374) the e(cid:448)e(cid:374)t that they (cid:272)a(cid:374)"t repay loa(cid:374) Taxing authorities: canada revenue agency (cra) federal taxing authority in canada and is responsible for federal tax collection, corporate taxed primarily based on taxable income, which is calculated based on accounting new income. Other users (other companies, securities analysts, credit rating agencies, labour unions, and journalists: will want information about performance of company if they are going to enter into contracts with it.