L2_A__slides(1).pdf - Lecture 2(A FIN 301 Financial Statements and Conceptual Overview • In accounting we look back to see where a company has been In

L2_A__slides(1).pdf - Lecture 2(A FIN 301 Financial...

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8/30/2018 1 Lecture 2 (A) FIN 301 Financial Statements and Conceptual Overview In accounting, we look back to see where a company has been. In finance, on the other hand, we look forward deciding where to go and the best way to get there using on the accounting information. ( User’s perspective ) Four main financial statements: Balance sheet Income statement Statement of retained earnings Statement of cash flow We consider the following: Interrelationship between the balance sheet and the income statement The process by which these statements can be used to project a firm’s future cash flows Balance Sheet A snapshot of a firm’s financial position Owning vs. Owing Represents the assets owned by the company and the claims against those assets. Capital structure perspective (What a firm owns and how it finances them) Based on the accounting identity: assets ° liabilities + owners’ equity General layout of balance sheet items (using liquidity and maturity)
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