the income statement and the balance sheet

... JUN ALEJO BATHAN, MEM Jun Alejo Bathan, MEM The Balance Sheet and the Profit and Loss Account Trang 22Balance Sheet Reports assetsReports assets and claims to assets.  Claims of creditors, ... ReportTrang 21 Retained earnings statement Balance sheet Trang 22 Action step 1: Report the revenues & expenses for a period of time, time, Income Income Statement Do It Problem: CSU Corporation ... 10representation of the accounting Trang 11representation of the accounting Trang 12Using the accounting equation, answer the following question. Trang 13Using the accounting equation, answer the following

Ngày tải lên: 12/03/2018, 15:40

... Objective 4Prepare a classified balance sheet. Trang 33Preparing a Balance SheetIt’s a good idea to check that the accounting records are in balance by determining whether debits = credits We do ... after the balance sheet date. Current Assets: Property, Plant, and Equipment: Total Liabilities and Stockholders' Equity $ 70,630 Pizza Aroma, Inc. Balance At August 31, 2010 Trang 36Assessing the ... cash from owners and issued stock to them. b Borrowed $7,000 cash from a bank and signed a note. c Purchased land for $12,000; paid $1,000 in cash and signed a note for the balance. d Bought

Ngày tải lên: 30/11/2016, 22:31

... Trang 1Prepare Income Statement and Balance Sheet According to Accrual Basis Principles of Cost Analysis and Management Trang 2Did Lacy Really Make $70?Cash Other Assets Liabilities ... Objective• Task: Prepare Income Statement and Balance Sheet According to Accrual Basis • Condition: You are a cost advisor technician with access to all regulations/course handouts, and awareness of ... tabular format • Identify and enter relevant report data (using macros provided in Excel template) to prepare income statement and balance sheet according to Trang 4Review: The Accounting CycleRecord

Ngày tải lên: 09/01/2018, 12:24

... Earnings The transaction between the stockholder and another investor (event c) was not included in the spreadsheet Because event (c) occurs between an owner and another investor, the separate ... separate from transactions of the owners Because transaction (c) occurs between the owners and others in the stock market, there is no effect on the business Req 3 The greater increase in stockholders’ ... Req 2 The separate entity assumption states that transactions of the business are separate from transactions of the owners Because transaction (c) occurs between the owners and others in the stock

Ngày tải lên: 02/12/2019, 15:29

... Earnings The transaction between the stockholder and another investor (event c) was not included in the spreadsheet Because event (c) occurs between an owner and another investor, the separate ... separate from transactions of the owners Because transaction (c) occurs between the owners and others in the stock market, there is no effect on the business Req 3 The greater increase in stockholders’ ... Req 2 The separate entity assumption states that transactions of the business are separate from transactions of the owners Because transaction (c) occurs between the owners and others in the stock

Ngày tải lên: 31/01/2020, 14:29

... Trang 1THE INCOME STATEMENT AND STATEMENT OF CASH FLOWS Chapter 4 Trang 2An income statement for a hypothetical manufacturing company that you can refer to as we proceed through the chapter.Trang ... IFRS and U.S GAAP allow companies to report income and other comprehensive income items in either a single, continuous statement of comprehensive income or in two separate, but consecutive statements ... Sale Income or loss from operations (revenues, expenses, gains, and losses) of the component from the beginning of the reporting period to the end of the reporting An “impairment loss” if the

Ngày tải lên: 02/03/2020, 13:30

... into the financial services sector in the energy sector This is a risky business and requires a lot of capital The monopoly in the management and control of the company, the management of the ... debt shown on the balance sheet as "stock liability" Trang 102 CONSEQUENCES AND SOLUTIONa Consequences With the above tips, the company profits were inflated and thereby helped the company's ... of the loan from the bank, a part of the capital issued by the company to buy Enron partner company shares with the level of Enron's leadership did not stand in the field of energy production and

Ngày tải lên: 10/07/2020, 07:25

... and litigation gains and losses Trang 26Income Before Income Taxes• Listed on the income statement after other income and expenses • Listed before income tax expense • Usually a footnote to the ... “other operating expenses,” and how are these items reported on the income statement? Trang 3Learning Objectives5 What is included in “income from operations,” and why is this income statement ... why is this income statement subtotal significant to managers and financial analysts? Trang 24Income From Operations• The difference between gross profit and Trang 25Other Income and Expenses•

Ngày tải lên: 21/09/2020, 14:24

... 43Comprehensive IncomeAn expanded version of income that includes four types of gains and losses that traditionally have not been included in income statements. Trang 44Other Comprehensive IncomeStatement ... component from the beginning of the reporting period to the end of the reporting period An “impairment loss” if the carrying value of the assets of the component is more than the fair value minus ... Trang 1The Income Statement and Statement of Cash Flows Chapter 4 Trang 4Learning ObjectivesDiscuss the importance of income from continuing operations and describe its components.

Ngày tải lên: 09/12/2017, 06:10

... follow the encouraged disclosure discussed in paragraph 23 of Statement 130, and displays the components of other comprehensive income and the total for comprehensive income using a one-statement ... company Second, the income statement helps users of the financial statements to determine the risk (level of uncertainty) of income—revenues, expenses, gains, and losses—and highlights the relationship ... from the rent expense, as it reduces an operating expense and therefore is directly related to operations Another treatment is to show it in the other revenues and gains section of the income statement.

Ngày tải lên: 22/08/2019, 14:17

... 8Examples of Revenue AccountsElements of the Income StatementTrang 9Rent expense Salary expense Examples of Expense AccountsElements of the Income StatementTrang 10Elements of the Income Statement Trang 14Chapter ... tax allocation Earnings per share Retained earnings statement Comprehensive income Income Statement and Related Information Income Statement and Related Information Trang 5Usefulness Trang 6Chapter ... Single-step Multiple-step Condensed income statements Income Statement Format of the Income Statement Reporting Irregular Items Special Reporting Issues Unusual gains and losses Changes in accounting

Ngày tải lên: 14/10/2020, 14:35

... before income tax (from the income statement) × Income tax rate Income tax payable = Taxable income (from the tax return filed with the IRS) × Income tax rate Accounting for Income Taxes by Corporations ... from the common stockholders’ investment in the company Objective Account for the Income Tax of a Corporation Accounting for Income Taxes by Corporations Income tax expense = Income before income ... liability is the difference between income tax expense and income tax payable for any one year • Revenues and expenses may be reported in different periods for income statement and tax return...

Ngày tải lên: 19/06/2014, 18:20

... in one of the other classifications Property, Plant and Equipment Are tangible, long-lived, and used in the operations of the business Includes land, buildings, equipment, machinery, and furniture ... operations, liquidity, and capital resources 3-22 Management’s Responsibilities p Preparing the financial statements and other information in the annual report p Maintaining and assessing the company’s ... Explain the purpose of an audit and describe the content of the audit report 3-24 Auditors’ Report Expresses the auditors’ opinion as to the fairness of presentation of the financial statements...

Ngày tải lên: 29/06/2014, 03:20

... Other Comprehensive Income Statement of Financial Accounting Standards No 130 Comprehensive income includes traditional net income and changes in equity from nonowner transactions Changes in the ... Accumulated Other Comprehensive Income In addition to reporting comprehensive income that occurs in the current period, we must also report these amounts on a cumulative basis in the balance sheet as ... operating and nonoperating income and their relationship to earnings quality 4-15 Operating Income and Earnings Quality Should all items of revenue and expense included in operating income be...

Ngày tải lên: 29/06/2014, 03:20

... on the board Thus, an exchange is bilateral between the buyer who accepts the standing ask and the seller who posted the standing ask, or between the seller who accepts the standing bid and the ... to and resulted from the recent U.S housing bubble and collapse, as a case study in the formation and propagation of balance sheet crises They then examine downturns in the U.S economy over the ... improve on the best ask As the bids are received, the experimenter writes them on a whiteboard in the hand-run version of the auction At any time, each buyer has the option to accept the standing...

Ngày tải lên: 01/11/2014, 18:18

... some of the more common misconceptions we, the authors, encounter in our training sessions See if any of them seem familiar ◆ The Balance Sheet tells me the value of the business’ ◆ ‘At the year-end ... better’ ◆ The accountant balances the Balance Sheet by entering a balancing figure somewhere probably profit’ These misconceptions will be dealt with at appropriate points in the book THE BUSINESS ... finance Step Two: Understand the impact of capital and revenue expenditure on this Business Financial Model Step Three: Extract from this Model the - Balance Sheet - Profit and Loss Account INTRODUCTION...

Ngày tải lên: 07/08/2014, 19:22

... considers the ‘business plan’ ● The real value of the property ● How much you wish to borrow ● Your income and existing outgoings The mortgage agreement defines the terms of the loan As security, the ... When the company prospers, Bill offers to buy the shares for £1,200 Alex hands over the piece of paper; Bill hands over the £1,200 Alex has made a gain of £200 The company has no involvement in the ... transaction and its finances are therefore unaffected Similarly, if the share value falls and Bill decides to sell, he will lose out but there will be no effect on the company accounts 12 THE BUSINESS...

Ngày tải lên: 07/08/2014, 19:22

... required to provide the flow of materials, services and credit to achieve the sales and satisfy customer needs Accountants call this working capital and that is exactly what the investment has ... taken Lead time through the manufacturing process Range of products/services offered Moving from cash to other parts of the cycle entails risk and must therefore offer the prospect of a sufficient ... that Profit and Cash are measured at different points in the cycle ● Sales (and hence Profit) are measured when the goods are despatched to the customer This timing difference is one of the factors...

Ngày tải lên: 07/08/2014, 19:22

... re-cycling is, therefore, happening continuously, ie: there is no tank at the bottom of the model, simply a meter and a pump Every year the meter is set to zero and the profits are measured as they are ... been re-invested back within the business If the company merely ‘collected’ Retained Profit and held it until the year-end before tipping it back into the top of the model, it would be extremely ... the process continues THE BUSINESS FINANCIAL MODEL COMMON MISCONCEPTIONS ‘At the year-end the Retained Profit must be somewhere; in the bank, or the accountant’s drawer.’ Yes The Retained Profit...

Ngày tải lên: 07/08/2014, 19:22