AFM_101_Midterm_Review

AFM_101_Midterm_Review - AFM 101 Midterm Review Brought...

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Click to edit Master subtitle style AFM 101 Midterm Review Brought to you by YOUR AFM 101 TAs
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Things you SHOULD know Financial Statements Income statement Statement of Retained Earnings Balance Sheet Statement of Cash Flows Journal Entries Deferral Vs. Accrual Adjusting Entries Financial Ratios
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Revenue Cost of Goods Sold Gross Profit Operating and Non-operating Expenses Income Before Taxes Income Taxes** Net Income Earnings Per Share* *(Net Income/Outstanding Common Shares) **(Given OR Income Before Taxes * Tax Rate) Financial Statements – Income Statement
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Financial Statements – Statement of Retained Earnings Beginning Retained Earnings +Net (Loss) Income (Income Statement) -Dividends Ending Retained Earnings
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Financial Statements – Balance Sheet Assets Current Assets Long Term Assets Total Assets = Liabilities and Shareholder Equity Current Liabilities Long Term Liabilities
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Financial Statements – Cash Flow Statement Operating Activities Net Income* Add (Deduct) Non-Cash Items Amortization* Gain/Loss on Sale* Change in Current Assets** Change in Current Liabilities** Net Cash Flow From Operating Activities Investing Activities Purchase of Long Term Asset** Sale of Long Term Asset** Net Cash Flow From *Inco me State ment Curre nt Asset s Curre nt Liabilit ies Long Term Asset s Long Term Liabilit ies Owne rs Equity
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AFM_101_Midterm_Review - AFM 101 Midterm Review Brought...

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