Exam 1 - ACCT 230 Exam 1 Chapter 16 Common-Size Financial...

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Click to edit Master subtitle style 10/5/09 ACCT 230 Exam 1
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10/5/09 Chapter 16 Common-Size Financial Statements : a statement that shows the items appearing on it in percentage form as well as in dollar form. On the income statement, the percentages are based on total sales revenue; on the balance sheet, the percentages are based on total assets Financial Leverage : a difference
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10/5/09 Trend Percentages : several years of financial data expressed as a percentage of performance in a base year Vertical Analysis : the presentation of a company’s financial statements in common-size form
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10/5/09 CHAPTER 1 Sarbanes-Oxley Act of 2002 : intended to protect the interests of those who invest in publicly traded companies by improving the reliability and accuracy of corporate financial reports and disclosures CEO and CFO certify that the financial statements represent the results of operations Established the Public Company Accounting Oversight Board to provide
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10/5/09 Financial Accounting Characteristics Reports to people outside the organization Emphasizes financial consequences of past activities Objectivity and Verifiability Precision Emphasizes summary data concerning the entire organization
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10/5/09 Managerial Accounting Characteristics Reports to people outside the organization
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