1. Chapter 15 - Course Intro & Stockholders Equity Basics(1)

1. Chapter 15 - Course Intro & Stockholders Equity...

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Course Introduction & Stockholders’ Equity Basics
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1. Focus of this Course: The more complex FS Topics 2. Definitions of SE & its Financial Statements 3. SE’s role in why the BS balances 4. Chart of Accounts & where SE appears 5. Every Account’s 4 Characteristics – The Language & Heart of Accounting 6. SE Account Details, BS Order & 4 Characteristics Learning Objectives
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What’s the focus of any Financial Accounting Course? The more complex FS Preparation Topics of Intermediate II: Stockholders’ Equity, Diluted Securities & DEPS Investments & Revenue Recognition Income Taxes: Book-Tax Differences Leases, Pensions, Changes & Correcting Entry Errors Statement of Cash Flows: Format, Methods & Purpose Full Disclosure: FS Note Presentation Issues Company FS Preparation CPA Audit & Issuance Investor Decision Usefulness
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What’s SE & where’s it on FS? SE: Various Definitions & FS Appearance SE : Residual claim of shareholders in Co. Assets after all Liabilities are paid (at BS Book Value, not Market Value) SE = Assets – Liabilities SE = CS + PS (all PIC Accts) + RE – TS + AOC G/L SE = Owner Investment + Cum. NI – Cum. Div - TS + AOC Income SE appears on these Financial Statements: BS aka Stmt of Fin. Position ( SE Section: End Balances only) Stmt of SE (Each SE Acct Column: Beg. + Changes = End Balances)
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