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Textbook Notes for Aadil Merali Juma

MCMASTERACC 925Aadil Merali JumaFall

ACC 925 Chapter Notes - Chapter 2: Accounting Equation, Financial Statement

OC12030321 Page
10 Oct 2016
6
Double entry system: a double entry system makes sure two accounts get affected when a transaction occurs to keep the accounting equation in balance. *
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MCMASTERACC 925Aadil Merali JumaFall

ACC 925 Chapter Notes - Chapter 5: Annual Percentage Rate, Debits And Credits, Book Value

OC12030326 Page
12 Oct 2016
5
Short-term investments (marketable securities): are investments that a company plans to hold for one year or less. Held-for-trading investments: to hol
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MCMASTERACC 925Aadil Merali JumaFall

ACC 925 Chapter Notes - Chapter 12: Cash Flow, Net Income, Income Statement

OC12030324 Page
12 Oct 2016
4
Explain the uses of the statement of cash flows. Cash flows provide relative information about a company operating, investing and financing activities.
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MCMASTERACC 925Aadil Merali JumaFall

ACC 925 Chapter Notes - Chapter 4: Canadian National Railway, Internal Control, Financial Statement

OC12030325 Page
12 Oct 2016
9
Fraud: is an intentional mispresenting of facts, made for persuading another party to act in a way that causes injury or damage to that party. The two
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MCMASTERACC 925Aadil Merali JumaFall

ACC 925 Chapter Notes - Chapter 3: Deferral, Accrual, Accounts Receivable

OC12030324 Page
10 Oct 2016
4
Chapter 3: accrual accounting and the financial statements. The difference between cash-basis accounting and accrual accounting: Cash-basis accounting:
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MCMASTERACC 925Aadil Merali JumaFall

ACC 925 Chapter Notes - Chapter 1: Cash Flow Statement, Financial Statement, Cash Flow

OC12030324 Page
10 Oct 2016
10
Income statement- the statement to show profit or loss. Retained earnings- the state(cid:373)e(cid:374)t to sho(cid:449) (cid:272)ha(cid:374)ges i(cid:
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MCMASTERACC 925Aadil Merali JumaFall

ACC 925 Chapter Notes - Chapter 3: Fixed Cost, Qti, Contribution Margin

OC4930717 Page
10 Aug 2016
1
Use variable costing income statement is used for this analysis: Subtract all variable costs (unit variable cost (uvc) * quantity) Assume you are produ
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