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Ch3 - Washington Post Thursday A Life Lost in the Shadow Of...

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1 Washington Post Thursday, April 23, 2009 A Life Lost in the Shadow Of Freddie Mac's Turmoil Firm's Finance Chief Dead in Apparent Suicide http://www.youtube.com/watch?v=WFHjxyEsnJU Accounting and Finance Topics Covered circle6 The Balance Sheet circle6 The Income Statement circle6 The Statement of Cash Flows circle6 Accounting for Differences circle6 Taxes Balance Sheet The balance sheet is a snapshot of the firm’s assets and liabilities at a given point in time Balance Sheet circle6 Assets are listed in order of liquidity circle6 Ease of conversion to cash circle6 Without significant loss of value The Main Balance Sheet Items Current Assets Cash & Securities Receivables Inventories + Fixed Assets Tangible Assets Intangible Assets
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2 The world's most valuable brand Coca-Cola Balance Sheet Identity Assets = Liabilities + Stockholders’ Equity Current Assets Fixed assets 1. Tangible fixed assets 2. Intangible fixed assets Current liabilities Long-term debt Shareholders’ equity Total Value of Assets Total Value of Liabilities and Shareholders’ Equity Net Working Capital Balance Sheet PepsiCo Balance Sheet (December 31, 2006) $Millions Market Vs. Book Value circle6 The balance sheet provides the book value of the assets, liabilities and equity. circle6 Book values are determined by generally accepted accounting principles (GAAP).
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