🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
HomeStudy Guides420,000CA160,000

AFM101 Final: AFM 101 Lecture Notes [Full Course] File contains succinct and accurate summary of lecture notes taken during class. Arranged chronologically by date for ease of use. Contains notes for the entire semester.

665 views45 pages
afm-og
16 Oct 2011
School
University of Waterloo
Department
Accounting & Financial Management
Course
AFM101
Professor
Duane Kennedy

For unlimited access to Study Guides, a Grade+ subscription is required.

purplechimpanzee495 and 87 others unlocked
AFM101 Full Course Notes
30
AFM101 Full Course Notes
Verified Note
30 documents

Document Summary

Afm 101 financial statements & business decisions. Financial accounting focuses on the external users, for internal users there is a separate accounting course called management accounting. External users are: profit-oriented organizations and non-profit organizations (hospitals and school count as non-profit organizations). A balance sheet shows the financial position of a company at a point in time while an income statement shows it over time. The statement of retained earnings is almost identical to the statement of shareholder"s equity; it shows the retained earnings of a company over time. The cash flow statement reports the inflow and outflow of cash in an organization over time. Canadian reserve agency has authority to force organizations to create specific financial statements; this power also extends to external users. The four major statements are a part of gaap. Gaap differs across countries because principals evolve differently elsewhere. The sources of gaaps in canada are the accounting standards board (acsb).

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents

AFM101 Chapter Notes - Chapter 1: Accounting Standards Board (Canada), International Accounting Standards Board, Financial Accounting Standards Board
crimsonyellowjacket88
AFM101 Chapter Notes - Chapter 1: International Accounting Standards Board, Financial Accounting Standards Board, International Financial Reporting Standards
blueox289
AFM101 Lecture Notes - Accrual, Net Income, Income Statement
viridianporcupine707

Related Questions

The analyst needs to decide if the financial statements need adjustments. This may arise because:

.

.

Assignment 2: Non-for-Profit Financial Reporting Review
Due Week 9 and worth 240 points

Select one (1) not-for-profit organization in an area of interest to you and review the financial statements and audit report for the organization. The financial statements and audit report of the not-for-profit organization should be readily and publically available on an active Website.

Write a three to five (3-5) page paper in which you:

Analyze the selected not-for-profit’s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations (FASB ASC 958-205-45). Explain the selected organization’s use of the three (3) fund categories. Recommend at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses.

Analyze the organization’s statement of cash flows. Explain the format that the organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format.

Compare the organization’s reporting of pledges and contributions to its reporting of exchange transactions. Discuss the funds that are utilized.

Assess the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. This assessment should also be expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Please I need some one who can help me we this to be answer allquestion as is required on this is for my term project. thankyou.

you were asked to research on a specific Health ServicesOrganization. Hint: Since you will be explainingthe financial statements, do not pick an organization withcomplicated financial statements. It might also be helpful to readthe Notes to the Financial Statements.

1. Go on the internet and choose a specifichealth services organization and research its financialstatements.

2. Describe the components of your health servicesorganization's Income Statement.

3. Describe the organization and contents of theBalance Sheet.

4. Describe the contents of the Statement of CashFlows and the way it differs from the Income Statement.

5. Attach a copy of the financial statement so that your peerscan view it.

6. Post your discussion with the appropriate reference(s).

the one I pick is Mayo clinic

answer as it pertains to the Mayo Clinic Health System.

Go on the internet and choose a specific health servicesorganization (Mayo Clinic Health System) and research its financialstatements.

Describe the organization and contents of the Balance Sheet.

Describe the contents of the Statement of Cash Flows and the wayit differs from the Income Statement.