B A 323 Chapter Notes - Chapter 3: Retained Earnings, Accounts Payable, Cash Flow
Document Summary
Annual report - report issued annually by a corporation to its stockholders. Contains basic financial statements as well as management"s analysis of the firm"s past operations and future prospects. Balance sheet - shows what assets the company owns and who has claims on those assets as of a given date. Income statement - shows the firm"s sales and costs during some past period. Statement of cash flows - shows how much cash the firm began the year with, how much cash it ended up with, and what it did to increase or decrease its cash. Statement of stockholders" equity - shows the amount of equity the stockholders had at the start of the year, the item that increased or decreased equity, and the equity at the end of the year. Financial statements - report what has actually happened to its assets, earnings, and dividends over the past few years.
