ADMS 1010 Study Guide - Final Guide: Cash Flow Statement, Cash Flow, Financial Statement

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: James R Gaede

Document Summary

Intermediaries: a person who acts as a link between people in order to try to bring about an agreement or reconciliation; a mediator. "intermediaries between lenders and borrowers" synonyms: mediator, go-between, negotiator, intervenor, intercessor, arbitrator, arbiter, conciliator, peacemaker; Accounting, or accountancy, is the measurement, processing and communication of financial information about economic entities. Accounting, which has been called the language of business , measures the results of an organization"s economic activities and conveys this information to users including investors, creditors, management, and regulators. Accounting and financial reports are often used as synonyms. Prepared according to generally accepted accounting principles (gaap): national and. Financial statements: balance sheet, statement of financial position at a given point in time, reports: Ownership equity: residual value after liabilities are paid. Income statement: statement of income, expenses, and profits over a given period, cash flow statement, reports on cash flow activities, particularly operating, investing, financing activities. Financial accounting: summary, analysis and reporting of financial transactions.