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Textbook Notes for Aadil Merali Juma

MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 9: Promissory Note, Current Liability, Interest Expense

OC11628554 Page
30 Nov 2016
19
Capital structure: mix of debt and equity. Debt cheaper but riskier, interest payments can force bankruptcy. Debt has advantage of financial leverage:
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 4: Commercial Paper, General Ledger, Money Market Fund

OC11446214 Page
7 Oct 2016
20
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 2-3: Accrual, Canadian Dollar, Deferred Income

OC11628552 Page
30 Sep 2016
57
Separate entity: business is a separate entity. Matching: record expense in period in which it was incurred to generate revenue. Materiality: immateria
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 3: Debt Ratio, Current Liability, Financial Statement

OC11446214 Page
7 Oct 2016
25
Record only business transactions involving receipt or payment of cash. If you make a ,000 sale on account, you don"t record the sale transaction until
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 1: Cash Flow Statement, Retained Earnings, Balance Sheet

OC11628552 Page
17 Sep 2016
169
Income statement > statement of retained earnings > balance sheet > statement of cash flow. Revenues/expenses - persistent, from ongoing or operating a
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 1: Retained Earnings, Comprehensive Income, Financial Statement

OC582064 Page
3 Jun 2015
100
Investors are individuals who buy small percentages of large corporations; they make their purchases hoping to gain in two ways. They hope to receive a
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 5: Accounts Receivable, Income Statement

OC13270583 Page
11 Dec 2016
3
Monetary claims by others acquired mainly by: accounts receivables selling of goods and services, notes receivables lending of money. A down side is so
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 4: Bank Reconciliation, Internal Control, Bank Statement

OC13270583 Page
11 Dec 2016
3
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 1: International Financial Reporting Standards, International Accounting Standards Board, Relate

OC23898166 Page
19 Apr 2018
0
Objective 1 : explain why accounting is the language of business: accounting info. System that measures business activities, processes data into report
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 6: Gross Profit

OC13270584 Page
7 Jan 2017
4
Merchandising & manufacturing: sales revenue, cost of goods sold (cogs, gross profit, operating expenses. Sales revenue reduced by (contra-revenues): c
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 6: Round-Off Error, Perpetual Inventory, Weighted Arithmetic Mean

OC9546115 Page
6 Dec 2016
3
Once inventory quantity is determined, the second step is to measure its costs. Ideally, the cost of each unit is available and the cost of inventory i
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MCMASTERCOMMERCE 1AA3Aadil Merali JumaFall

COMMERCE 1AA3 Chapter Notes - Chapter 12: Accrual, Current Liability, Income Statement

OC13270582 Page
11 Dec 2016
6
Investing: long term assets and long term investments. Operating: income statement items, current assets, and current liabilities. Fi(cid:374)a(cid:374
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