Class 9_09 & 13_10 - Ch 3

Class 9_09 & 13_10 - Ch 3 - Agenda Questions? Textbook...

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Page 1 Questions? Textbook – Chapter 3 Agenda
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Page 2 We talked about the balance sheet last class with financing and investing transactions so let’s talk about operations today What is the operating cycle for a company? The results (profit or loss generation) of this operating cycle are shown on the Income Statement Comprised of revenues (sales to customers) and expenses (use of resources to generate revenues) The Income Statement is presented with the following: Operating Revenues Operating Expenses Operating Income Non-operating items Investment Income Interest Expense etc Income Tax Expense Net Income Earnings per share Income Statement – Results of Operations Pay cash to suppliers / employees Collect cash from customers Purchase Goods
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Page 3 Now that we know what the income statement looks like, let’s take a look at how operating results end up on the income statement? Or, how and when do transactions end up on the income
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This note was uploaded on 12/17/2010 for the course ACC 311 taught by Professor Charrier during the Fall '08 term at University of Texas.

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Class 9_09 & 13_10 - Ch 3 - Agenda Questions? Textbook...

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