ACG-2021 Study Guide - Midterm Guide: Deferral, Promissory Note, Accounts Payable

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Internal users (marketing, finance, human resources, management, etc. ) vs. Sox (sarbanes-oxley act of 2002): management certification, fraud penalties, auditor independency, oversight by board of. Financing (borrowing $, aka debt financing), investing (purchasing resources, ppe) & operating (revenues, inventories, receivables, expenses, liabilities, net revenue/net loss) Income statement revenues expenses = net expenses o. Retained earnings statement (or stockholder"s equity statement) beg equity + owner contributions + net income dividends = ending equity o. Balance sheet assets = liabilities + equity o. Statement of cash flows cash inflows cash outflows = net cash flow // free cash flow = cash from operations capital expenditures (ppe) cash dividends o. Management discussion & analysis: company"s ability to pay near term obligations and to fund operations and expansion o o. Auditor"s report: opinion as to the fairness of the reports w/ gaap. Unqualified (clean), qualified (mostly), disclaimer (somewhat/not really), adverse opinion (not at all in accordance with.