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Textbook Notes for Brad Mac Master

RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 5: Cash Flow Statement, Operating Cash Flow, Accounts Payable

OC273893 Page
1 Dec 2011
36
It"s cash that pays the bills (not income and revenue) Without it business quickly grinds to a halt. The cycle of investing cash in resources, providin
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 1: Nonprofit Organization, Financial Statement, Trade Union

OC273892 Page
1 Dec 2011
47
No two entities are identical, each are unique. Provides limited liabilities to amount of investment (shareholders aren"t liable for obligation) Accoun
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 2: Intangible Asset, Current Liability, Retained Earnings

OC273892 Page
1 Dec 2011
35
Fiscal year: 12 month period which an entity provides information. Economic resources, for carrying out its business activities, that provides future b
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 9: Current Liability, Accounts Payable

OC273891 Page
1 Dec 2011
51
Liabilities: obligations to provide cash, goods, or services to customers, suppliers, employees, government, lenders and anyone else an entity (owes so
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 4: Financial Statement, Income Statement

OC273893 Page
1 Dec 2011
40
Revenue is an economic gain earned by an entity from providing goods or services to. Dr. cash (asset +) or account receivable (asset +) or unearned rev
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 3: General Ledger, Trial Balance, Accrual

OC273893 Page
1 Dec 2011
36
The accounting cycle - the process of entering transaction and economic event data into an accounting system and the processing, organizing, and using
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 7: Inventory Control, Accounts Payable, Cash Flow

OC273892 Page
1 Dec 2011
33
Inventory: asset held for sales or assets used to produce goods that will be sold as part of the entity"s normal business activities. Include materials
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 8: Intangible Asset, Capital Asset, Book Value

OC273893 Page
1 Dec 2011
37
Capital assets: resources that contribute to earning revenue over more then one period by helping an entity produce, supple, support or make available
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 6: Money Market Fund, Bank Reconciliation, Cash Cash

OC273893 Page
1 Dec 2011
38
Chapter 6 - cash, receivables and the time value of money. Includes near cash items,(treasury bills, guaranteed investment certificates (gics), money m
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 3: Common Stock, European Route E313, Profit Margin

OC70461654 Page
3 Jan 2016
37
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes -Financial Statement, Cash Flow

OC675553 Page
3 Dec 2012
32
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RYERSONACC 110Brad Mac MasterFall

ACC 110 Chapter Notes - Chapter 12: Comprehensive Income, Stock Split, Profit Margin

OC70461622 Page
3 Jan 2016
14
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