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Slide1
Boundless Lecture Slides
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Slide2Using Boundless Presentations
The Appendix
The appendix is for you to use to add depth and breadth to your lectures. You can simply drag and drop slides from the appendix into the main presentation to make for a richer lecture experience.
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Slide3Boundless is an innovative technology company making education more affordable and accessible for students everywhere. The company creates the world’s best open educational content in 20+ subjects that align to more than 1,000 popular college textbooks. Boundless integrates learning technology into all its premium books to help students study more efficiently at a fraction of the cost of traditional textbooks. The company also empowers educators to engage their students more effectively through customizable books and intuitive teaching tools as part of the Boundless Teaching Platform. More than 2 million learners access Boundless free and premium content each month across the company’s wide distribution platforms, including its website,
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About Boundless
Slide4]
Financial Statements
Financial Statements
Ratio Analysis and Statement Evaluation
Accounting Information
The Accounting Process
The Balance Sheet
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The Income Statement
Slide5]
Financial Statements
Financial Statements
(continued)
The Statement of Cash Flows
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Slide6Financial Statements Across Periods
Profitability Ratios
Liquidity Ratios Debt Utilization Ratios Comparisons Within an Industry Performance per Share
Activity Ratios Sample Evaluation Ratio Analysis and Statement Evaluation
Financial Statements
>
Ratio Analysis and Statement Evaluation
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Slide7Usage of Accounting Information
Managerial Accounting
Financial Accounting Tax Accounting Government and Nonprofit Accounting Consumers of Accounting Information
Accounting Information
Financial Statements
>
Accounting Information
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Slide8The Accounting Equation
Double-Entry Bookkeeping
The Accounting Cycle The Accounting Process
Financial Statements
>
The Accounting Process
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Slide9Defining the Balance Sheet
Assets
Liabilities Owners' Equity The Balance Sheet
Financial Statements
>
The Balance Sheet
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Slide10Defining the Income Statement
Revenues
Cost of Goods Sold General and Administrative Expenses (G&A) Net Income Sample Income Statement
The Income Statement
Financial Statements
>
The Income Statement
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Slide11The Imperative of Liquidity
Direct and Indirect Measurement
The Statement of Cash Flows
Financial Statements
> The Statement of Cash Flows
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Appendix
Slide13Key terms
10K An annual report, required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive summary of a public company's performance.10Q
A quarterly report mandated by the United States federal Securities and Exchange Commission to be filed by publicly traded corporations.accounting The process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information. (definition by the American Accounting Association)Accounting Equation
The "basic accounting equation" is the foundation for the double-entry bookkeeping system. For each transaction, the total debits equal the total credits.amortization The reduction of loan principle over a series of payments.balance sheet A summary of a person's or organization's assets, liabilities and equity as of a specific date.bankruptcy A legally declared or recognized condition of insolvency of a person or organization.budget
An itemized summary of intended expenditure; usually coupled with expected revenue.calendar year The amount of time between corresponding dates in adjacent years in any calendar.
capital surplus A balance sheet item under shareholders' equity. Increases by the value above an original par value per share that newly-issued shares are sold for.cash budget a prediction of future money receipts and expenditures for a particular time period
Cash inflows Cash inflows are the movement of money into a business, project or financial product.
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Financial Statements
Slide14chronological
In order of time, usually earliest to latest.Common stock Shares of an ownership interest in the equity of a corporation or other entity with limited liability entitled to dividends, with financial rights junior to preferred stock and liabilities.
Cost of Goods Sold Cost of goods sold (COGS) refer to the inventory costs of those goods a business has sold during a particular period.creditor A person to whom a debt is owed.current liabilities In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year, or the operating cycle of a given firm, whichever period is longer.
debit Debit and credit are the two fundamental aspects of every financial transaction in the double-entry bookkeeping system in which every debit transaction must have a corresponding credit transaction(s) and vice versa.debit card a product that can be used to make payments by drawing money directly from the user's bank accountdebt Money that one person or entity owes or is required to pay to another, generally as a result of a loan or other financial transaction.
debt financing funding obtained by borrowing assetsdepreciation The decline in value of assets.
depreciation The measurement of the decline in value of assets. Not to be confused with impairment, which is the measurement of the unplanned, extraordinary decline in value of assets.direct method
A method of cash flow accounting that records all cash inflows and outflows. It does not take non-cash item valuations into account.
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Financial Statements
Slide15dividend
A pro rata payment of money by a company to its shareholders, usually made periodically (e.g., quarterly or annually).double-entry bookkeeping A method of bookkeeping in which each transaction must have at least one debit and one credit.
equity Ownership interest in a company as determined by subtracting liabilities from assets.equity financing funding obtained through the sale of ownership interests in the companyexpenditures Costs to be paid out. From an accounting perspective, these are credited costs on a given line item.
financial accounting Accounting that focuses on preparation of stakeholder documents (particularly for publicly traded companies) and collecting data on past operational performance.financial leverage The degree to which an investor or business is utilizing borrowed money.Financial statements Standardized documents that include the financial information of a person, company, government, or organization; this information is used to make financial decisions.GAAP
Generally Accepted Accounting Principles (GAAP) refer to the standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards.generally accepted accounting principles The standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing, and in the preparation of financial statements.
goodwill The value of a business entity not directly attributable to its tangible assets and liabilities. This value derives from factors such as consumer loyalty to the brand.
Governmental accounting Governmental accounting is an umbrella term which refers to the various accounting systems used by various public sector entities.
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Financial Statements
Slide16homogeneous
Having the same composition throughout.IFRS International Financial Reporting Standards (IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries.
income statement a calculation which shows the profit or loss of an accounting unit during a specific period of time, providing a summary of how the profit or loss is calculated from gross revenue and expensesindirect method A method of cash flow accounting that takes into account everything the direct method measures, with the addition of non-cash item valuation.intangible asset
Any valuable property of a business that is not does not appear on the balance sheet, including intellectual property, customer lists, and goodwill.Interest The price paid for obtaining or price received for providing money or goods in a credit transaction, calculated as a fraction of the amount or value of what was borrowed.International Accounting Standards Board The independent, accounting standard-setting body of the International Financial Reporting Standards Foundation.Journal entries A journal entry, in accounting, is a logging of transactions into accounting journal items. The journal entry can consist of several items, each of which is either a debit or a credit.
leverage To use in such a way to capture maximum value.liabilities
An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments.liabilities An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments.
liquidity The degree to which something is in demand and easily recovered, making it easily convertible to cash.
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Financial Statements
Slide17liquidity
The availability of cash in the short-term.liquidity An asset's ability to become solvent without affecting its value; the degree to which it can be easily converted into cash.
liquidity ratio total cash and equivalents divided by short-term borrowingsliquidity risk The risk that an asset, security, or commodity is not easily converted in cash without impacting the price of sale.managerial accounting Accounting that combines strategic decision-making with accounting knowledge through providing specific tools to measure the financial implications of various internal activities.
materiality The state of being consequential in the making of a decision.minority interest In accounting, minority interest (or non-controlling interest) is the portion of a subsidiary corporation's stock that is not owned by the parent corporation.overhead The expense of a business not directly assigned to goods or services provided.owners' equity
the remaining interest in all assets after all liabilities are paidperishable A good that has an expiration date, or can go bad.Profitability
The capacity to produce capital, in this context through organizational operations.profitability The capacity to make a profit.
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Financial Statements
Slide18ROA
The return on assets (ROA) percentage shows how profitable a company's assets are in generating revenue.shareholders' equity The remaining interest in assets of a company, spread among individual shareholders of common or preferred stock.
solvency The state of having enough funds or liquid assets to pay all of one's debts; the state of being solvent.stakeholders People outside of a company who have a special interest in the company. Some examples are suppliers, customers, and the community.stockholder
One who owns stock.tangible asset Any asset, such as buildings, land, equipment etc., that has physical form.Tax accounting The activity that focuses on satisfying legal accounting obligations through the preparation, analysis, and presentation of required tax documentation.
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Financial Statements
Slide19Comparison of Various types of Assets
Current assets vs. liquid assets vs. absolute liquid assets.
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Wikipedia.
"Asset."
CC BY-SA 3.0
http://en.wikipedia.org/wiki/Asset
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Financial Statements
Slide20Differences between Financial and Managerial Accounting
This is a great image depicting the various differences in perspective found between different accounting methodologies. Looking at managerial accounting in this diagram, one can better understand its place in the organization.
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Wikipedia.
"IFAC_Definition_of_MA.jpg."
CC BY-SA 3.0
https://upload.wikimedia.org/wikipedia/commons/2/20/IFAC_Definition_of_MA.jpg
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Financial Statements
Slide21Balance Sheet Example
This balance sheet demonstrates such common line items an account will be populated and measuring when creating and releasing this financial statement.
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Wikimedia.
"DWBA_DBS.jpg."
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https://upload.wikimedia.org/wikipedia/commons/9/96/DWBA_DBS.jpg
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Financial Statements
Slide22Break-even Point
The cost of goods sold often determines at what level of output (in terms of units) will produce a break-even point at the given price point the item is being sold.
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Wikipedia.
"CVP-TC-Sales-PL.svg.png."
CC BY-SA 3.0
https://upload.wikimedia.org/wikipedia/commons/e/e9/CVP-TC-Sales-PL.svg
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Financial Statements
Slide23Liabilities of the United States
Liabilities of the United States as a fraction of GDP (1960-2009)
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Wikimedia.
"US-liabilities."
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http://commons.wikimedia.org/wiki/File:US-liabilities.jpg
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Financial Statements
Slide24Refining Operation
Ratio analyses can be used to compare between companies within the same industry. For example, comparing the ratios of BP and Exxon Mobil would be appropriate, whereas comparing the ratios of BP and General Mills would be inappropriate.
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Industrial Blind Solutions.
"Industrial Blinds for the Chemical Industry."
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http://www.industrialblindsolutions.com/industries-chemical.php
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Financial Statements
Slide25Simple Direct Cash Flow Statement
This is a simple direct monthly cash flow statement from a small business. It's worth noting that there are no investing activities in this example.
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Wikimedia.
"Cash-flow.png."
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https://upload.wikimedia.org/wikipedia/commons/6/6b/Cash-flow.png
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Financial Statements
Slide26Free to share, print, make copies and changes. Get yours at
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Wikispaces.
"IB2-Business-p7 - 3.6 Ratio Analysis."
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http://ib2-business-p7.wikispaces.com/3.6+Ratio+Analysis
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Financial Statements
Slide27Leverage Ratios
Leverage ratios for some investment banks
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Wikipedia.
"Source Data - Leverage Ratios."
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http://en.wikipedia.org/wiki/File:Source_Data_-_Leverage_Ratios.png
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Financial Statements
Slide28Sample Balance Sheet
Sample of a small business's balance sheet, showing owners' equity.
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Wikipedia.
"Balance sheet."
CC BY-SA 3.0
http://en.wikipedia.org/wiki/Balance_sheet
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Financial Statements
Slide29Wikimedian's Income Statement
Understanding an income statement is best accomplished by analyzing one. The above income statement is pulled directly from Wikipedia, and is the financial information they are offering to external stakeholders and the general public. The income statement starts with revenues, minuses costs and expenses, and results in a net gain or loss.
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Wikimedia.
"Cascadia_Wikimedians_User_Group_-_Income_statement_as_of_Dec_312C_2015.jpg."
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https://upload.wikimedia.org/wikipedia/commons/a/a7/Cascadia_Wikimedians_User_Group_-_Income_statement_as_of_Dec_31%2C_2015.jpg
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Financial Statements
Slide30Increasing Profits
Profitability ratios are used to assess a business's ability to generate earnings.
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Bristol Storage.
"Increased warehouse efficiency WILL increase your bottom line profits."
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http://www.bristol-storage.co.uk/blog/warehouse-efficiency/
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Financial Statements
Slide31Financial Statement
One form of financial statement is the income statement.
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Computer Accounting Software Help.
"Example Income Statement."
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http://www.computer-accounting-software-help.com/Example_Income_Statement.html
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Financial Statements
Slide32Financial Statements Analysis
Corporations report financial statements following Generally Accepted Accounting Principles (GAAP).
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Management Science.
CC BY
http://www.management-science.biz/financial%20analysis.htm
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Financial Statements
Slide33Apple Inc's Income Statement
Apple's revenues and net income rose greatly in 2011.
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Amazon%20Web%20Services.
"Boundless."
CC BY
http://s3.amazonaws.com/figures.boundless.com/50f02089e4b00e8d9dcb8038/Screen+Shot+2013-01-11+at+9.23.55+AM.png
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Financial Statements
Slide34Cash
Cash is the most liquid asset in a business.
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Wikimedia.
Public domain
http://upload.wikimedia.org/wikipedia/commons/6/63/USCurrency_Federal_Reserve.jpg
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Financial Statements
Slide35Accounting
Governmental and Nonprofit accounting follow different rules to those of commercial enterprises.
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Guider.
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http://guilderwire.com/accounting-tips-how-to-make-123-as-easy-as-a-b-c/
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Financial Statements
Slide36A Sample Income Statement
Expenses are listed on a company's income statement.
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Flickr.
"All sizes | y2cary3n6mng-5ha51l-income-statement-example | Flickr - Photo Sharing!."
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http://www.flickr.com/photos/sampjb/7690678408/sizes/l/
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Financial Statements
Slide37A Sample Income Statement
Expenses are listed on a company's income statement.
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Flickr.
"All%20sizes%20%7C%20y2cary3n6mng-5ha51l-income-statement-example%20%7C%20Flickr%20-%20Photo%20Sharing!."
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Financial Statements
Slide38Example of Double entry bookkeping
Purchase Invoice Daybook
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Wikipedia.
"Double-entry bookkeeping system."
GNU FDL
http://en.wikipedia.org/wiki/Double-entry_bookkeeping_system
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Financial Statements
Slide39Liquidity
This chart shows some estimations of various types of capital investments, alongside their respective risk, return, and liquidity.
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OpenStax CNX.
"Liquidity."
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http://cnx.org/contents/PjUIBDjx@4/How-Households-Supply-Financia
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Financial Statements
Slide40Accounting
Accounting allows a business to track its financial information.
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Pixabay.
"Calculator."
Public domain
http://pixabay.com/static/uploads/photo/2014/07/06/13/55/calculator-385506_640.jpg
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Financial Statements
Slide41Various Accounting Perspectives
This image demonstrates the various responsibilities and perspectives of different forms of accounting (those being tax accounting, managerial accounting and financial accounting).
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Wikipedia.
"IFAC_Definition_of_MA.jpg."
CC BY-SA 3.0
https://upload.wikimedia.org/wikipedia/commons/2/20/IFAC_Definition_of_MA.jpg
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Financial Statements
Slide42Assets and Liabilities of the US
Assets and liabilities of the US as a fraction of the GDP 1945-2009.
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Wikimedia.
"US-assets-and-liabilities."
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Financial Statements
Slide43Sample Balance Sheet
A balance sheet shows how the accounting equation is applied.
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Wikipedia.
"Balance sheet."
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Financial Statements
Slide44Income Statement
This image shows a basic income statement, including a line item for SG&A. This demonstrates where it is (under operating expenses).
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Wikipedia.
"SGA Income Statement.JPG."
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https://en.wikipedia.org/wiki/Income_statement
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Financial Statements
Slide45Example Domestic Balance Sheet
This balance sheet shows the company's assets, liabilities, and shareholder equity.
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Wikimedia.
"DWBA DBS."
CC BY-SA 3.0
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Financial Statements
Slide46Attribution
Wikipedia.
"Asset." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Asset
Wiktionary. "intangible asset." CC BY-SA 3.0 http://en.wiktionary.org/wiki/intangible_asset
Wiktionary.
"tangible asset." CC BY-SA 3.0
http://en.wiktionary.org/wiki/tangible_asset
Wikipedia. "International Accounting Standards Board." CC BY-SA 3.0
http://en.wikipedia.org/wiki/International_Accounting_Standards_Board
Wikipedia.
"Liability (financial accounting)."
CC BY-SA 3.0
http://en.wikipedia.org/wiki/Liability_(financial_accounting)
Wiktionary.
"liabilities." CC BY-SA 3.0 http://en.wiktionary.org/wiki/liabilitiesWikipedia.
"Current liabilities." CC BY-SA 3.0
http://en.wikipedia.org/wiki/Current_liabilitiesWikipedia.
"Accounting Equation." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Accounting%20Equation
Wiktionary. "liabilities." CC BY-SA 3.0
http://en.wiktionary.org/wiki/liabilitiesWiktionary. "equity." CC BY-SA 3.0 http://en.wiktionary.org/wiki/equity
Wikibooks. "Accountancy/The Accounting Equation." CC BY-SA 3.0
http://en.wikibooks.org/wiki/Accountancy/The_Accounting_Equation
Wikipedia.
"Journal entries."
CC BY-SA 3.0
http://en.wikipedia.org/wiki/Journal%20entries
Wikibooks.
"Accountancy/Introduction to Accountancy."
CC BY-SA 3.0
http://en.wikibooks.org/wiki/Accountancy/Introduction_to_Accountancy
Wikipedia.
"Ownership equity."
CC BY-SA 3.0
http://en.wikipedia.org/wiki/Ownership_equity
Wikipedia.
"Equity financing."
CC BY-SA 3.0
http://en.wikipedia.org/wiki/Equity_financing
Wiktionary.
"capital surplus."
CC BY-SA 3.0
http://en.wiktionary.org/wiki/capital_surplus
Wikipedia.
"Owner's equity."
CC BY-SA 3.0
http://en.wikipedia.org/wiki/Owner's_equity
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Financial Statements
Slide47Boundless Learning.
"Boundless."
CC BY-SA 3.0 http://www.boundless.com//business/definition/shareholders-equity
Wiktionary. "owners' equity." CC BY-SA 3.0 http://en.wiktionary.org/wiki/owners'+equity
Wikipedia.
"ROA." CC BY-SA 3.0
http://en.wikipedia.org/wiki/ROAWikipedia.
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Wikipedia.
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CC BY-SA 3.0
https://en.wikipedia.org/wiki/Accounting_liquidity
Wiktionary.
"liquidity."
CC BY-SA 3.0 https://en.wiktionary.org/wiki/liquidityOpenStax CNX. "How Households Supply Financial Capital."
CC BY 4.0
http://cnx.org/contents/PjUIBDjx@4/How-Households-Supply-FinanciaOpenStax CNX. "Measuring Money: Currency, M1, and M2."
CC BY 4.0 http://cnx.org/contents/I43bJArL@6/Measuring-Money-Currency-M1-an
Wikipedia. "Income statement." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Income_statement%23Operating_section
Wikipedia. "Revenue." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Revenue
Wikipedia. "Cash inflows." CC BY-SA 3.0
http://en.wikipedia.org/wiki/Cash%20inflows
Wikipedia.
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CC BY-SA 3.0
http://en.wikipedia.org/wiki/Budget
Wikipedia.
"Tax accounting in the United States."
CC BY-SA 3.0
https://en.wikipedia.org/wiki/Tax_accounting_in_the_United_States
Wikipedia.
"Accounting."
CC BY-SA 3.0
https://en.wikipedia.org/wiki/Accounting
Wikipedia.
"Financial accounting."
CC BY-SA 3.0
https://en.wikipedia.org/wiki/Financial_accounting
Wikipedia.
"Managerial Accounting."
CC BY-SA 3.0
https://en.wikipedia.org/wiki/Management_accounting
Wikipedia.
"Managerial risk accounting."
CC BY-SA 3.0
https://en.wikipedia.org/wiki/Managerial_risk_accounting
Wikipedia.
"Cash flow statement."
CC BY-SA 3.0
http://en.wikipedia.org/wiki/Cash_flow_statement%23Indirect_method
Wikipedia.
"Cash flow statement."
CC BY-SA 3.0
http://en.wikipedia.org/wiki/Cash_flow_statement%23Indirect_method
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Financial Statements
Slide48Wikipedia.
"Cash flow statement."
CC BY-SA 3.0 http://en.wikipedia.org/wiki/Cash_flow_statement%23Preparation_methods
Wikipedia. "Management accounting." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Management_accounting%23An_alternative_view
Wikipedia.
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Financial Statements
Slide49Wikipedia.
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Financial Statements
Slide50Saylor.
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Financial Statements
Slide51Wiktionary.
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Financial Statements
Slide52Wikipedia.
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Financial Statements
Slide53Wiktionary.
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Financial Statements