3765754
Descrição
FlashCards por sarah.novis, atualizado more than 1 year ago
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Criado por sarah.novis
quase 9 anos atrás
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| Questão | Responda |
| Why do we have financial statements? | Governments (tax) Managers Shareholders/investors Financial institutions Suppliers/customers |
| Accounting | Recording and reporting Emphasis on profit Backward looking Historic costs Book values |
| Financial management (Economics) | Resource allocation Emphasis on cash flow Forward looking Risky possibilities Present values Market values |
| Financial statements | Balance sheet Profit and loss statement Cash flow statement |
| Fundamental accounting relationship number one | Revenues - expenses = profit or loss Shows financial flows over period of time |
| Fundamental accounting relationship number two | Total assets = Total liabilities + equity Defines the balance sheet |
| Book vs market values | Balance sheet - book not market Book values - backward looking Market values - forward looking |
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