BUS-A 100 Chapter Notes - Chapter 6: Audit, Pricewaterhousecoopers, Financial Statement

• School: IU
• Department: Business
• Course: BUS-A 100
• Professor: Vivian Winston

Document Summary

Financial statements - reported prepared from the accounting system. Equity investors/stockholders - own a part of a company in the form of stock. Directors - represent the stockholders" interest to managements and to protect the stockholders" investment, voted by the stockholders. Board of directors - group of directors voted by the stockholders. Debt - borrowing money from investors or banks. Creditors - those who loan the company money. Interest - amount the creditor charges for the borrower. Maturity date - the date by which the loan is to be repaid. Collateral - assets that are pledged by the borrower if the borrower cannot pay back the loan. Default - company being unable to repay its loans. Fixed assets - used in the business" operations, likely to last a number of year. Publicly-held - stock traded on an exchange, e. g. nyse, nasdaq. Form 10q - unaudited financial reports covering the most current quarter.