1 Accounting Notes

1 Accounting Notes - Accounting Notes 1/9 Concepts Process...

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Accounting Notes 1/9 Concepts Process Analysis o Organize notes in terms of these three Can work with only one other person on intensively graded assignments Financial statements prepared for users (investors, bank, etc.) “Leverage” = “gearing” in India double entry bookkeeping system a concept and a process 1933 Securities Act is for issuing securities 1934 securities Exchange Act of 1934 is for reporting o form 10-Qs are quarterly reports o form 10-Ks are annual reports o MD&A- written through “eyes of management” (person reading report will see company same way as management would) o www.sec.gov o edgar- electronic data gather and retrieval system FASB makes the rules GAAP vs. IFRS o Rules-based vs. principle-based Intangibles- i.e. patents, goodwill Balance sheet is in order of liquidity (highest to lowest) o Is the opposite for int’l balance sheets o A balance sheet is an income statement waiting to happen o
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1 Accounting Notes - Accounting Notes 1/9 Concepts Process...

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