ACCT_3280_S12_Week_4_Notes_Chapter_16

ACCT_3280_S12_Week_4_Notes_Chapter_16 - ACCT 3280...

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ACCT 3280 – INTERMEDIATE ACCOUNTING I WEEK 4 NOTES – CORPORATE REPORTING Introduction: This lesson provides further information and practice opportunities in describing share transactions and calculation of earnings per share, which is included in as part of the corporate income statement. The lesson continues with examples and exercises on the reporting additional income information and special issues regarding the statement of changes in equity. Review of Learning Objectives: 1. Describe and account for share dividends and share splits. 2. Describe and account for retirement of shares. 3. Calculate earnings per share and describe its use. 4. Explain the form and content of a comprehensive corporate income statement. 5. Explain the items reported in retained earnings. Lesson Notes: 1. Log onto Connect at www.mcgrawhill.connect.ca and utilize practice quizzes. 2. Complete Chapter lab at LYRYX online site prior to date set for the assignment. Summary of Week 5 and Week 6: I. Additional Share Transactions A. Share Dividends - Distribution of additional shares to shareholders without receipt of any payment in return. They do not reduce assets or total equity, just the components of equity. 1. Reasons for a share dividend a. To keep the market price of the share affordable.
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