COMM 293 Study Guide - Final Guide: Historical Cost, Impaired Asset, Private Placement

236 views16 pages
School
Department
Course

Document Summary

Financial activities: when a company exchanges money with its lenders and owners. Investing activities: when a company buys or cells property. Internal decision makers (managers), external decision makers (long officer, investors, etc. ) Reports the financial position (assets, liabilities, equity) of an accounting entity at a particular time. Statement heading: name of the entity, title of statement, date, unit of measure. Accounting entity: the organization for which financial data are to be collected. Prepayments: advance payment of any insurance premiums (future economic benefits) Accrued liabilities: amounts owed to supplier for various services (rent, utilities, etc. ) Short term borrowing (banks/creditor), long term borrowing (formal written debt) Shareholder"s equity: financing provided by owners of shares in the business and earning over time. Share capital: investment of cash and other assets in the business by owners for shares. Retained earnings: amount of earnings reinvested in the business (not distributed to shareholders) Changes in equity except from investments by owners or distributions to owners.

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