m4l4 - David Robinson © D Robinson 2008 Fall 2008 Module 4...

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Unformatted text preview: David Robinson © D. Robinson, 2008 Fall 2008 Module 4 Accounting & Finance Lecture 4: Public Accounting Income Statement Accounting & Finance Accounting Finance Managerial Financial Auditing How investors use their money How firms raise money Three financial statements Forms of business Income St. Balance Sheet St. Cash Flows 2 Financial Accounting I • “Public” accounting • Accrual accounting • Income Statement Why do we need “public” accountants? • Who owns Starbucks? (or for that matter, General Motors or General Electric?) Public Companies have to file statements with the SEC • Now publicly available online (and very quickly) through EDGAR • Quarterly statements (unaudited) “10- Q” • Annual statements (audited) “10-K” • Relationship of these to the Annual Report • There’s much more to say about Auditing —we’ll come back to it 16 Introducing Financial Accounting In the last lecture we calculated “Break Even” and profit at our simple t-shirt business, on what accountants would call a “ cash basis ” ... Cash basis: Making and selling one order of 24 T-shirts • Suppose our selling price is $14.00 • We know FC = $90, VC = $9.00 If we make and sell 24 t-shirts:...
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This note was uploaded on 02/12/2010 for the course UGBA 10 taught by Professor Xuanmingsu during the Spring '08 term at Berkeley.

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m4l4 - David Robinson © D Robinson 2008 Fall 2008 Module 4...

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