Mgmt 200 Fall 2008 Chap 1 Financial Statements

Mgmt 200 Fall 2008 Chap 1 Financial Statements - MGMT 200...

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MGMT 200 INTRODUCTORY FINANCIAL ACCOUNTING Administrative Updates Katalyst email set-up – now automatic to your @purdue.edu account Second problem for Friday is P1-10 not P1-11 Text and Cengage Now information Teaching Assistants (TA) office hours
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Text / Cengage Now update An option to purchase the text, ebook, and/or CengageNow Instant Access Code is to go to www.iChapters.com and find the Porter and Norton text. The text is $175.99, the ebook option is $97.99, and the CengageNow Instant Access Code. With the Access Code go to academic.cengage.com/login and set up your account. To register for Mgmt 200 you will need the Course Key: E-YZ73FEFCTT7AA
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TA Hours Teaching assistants office hours (KRAN 513): Alex Asiago Tuesday 10am-noon Ryan Leidigh Wednesday 2-4pm James Turner Monday 2-4pm David Zhang Thursday 3-5pm
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MGMT 200 INTRODUCTORY FINANCIAL ACCOUNTING Chapter 1: Accounting as Communication Users of accounting information The four basic financial statements The Balance Sheet and the accounting equation The Income Statement The Statement of Retained Earnings E1-3, E1-8
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Accounting Accounting is a system that collects and processes (analyzes, measures and records) financial information about an organization and reports that information to decision makers
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The Accounting System Collects and processes financial information Reports information to decision makers Managers (internal decision makers) Investors and Creditors (external decision makers)
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The Four Basic Financial Statements The Balance Sheet Economic resources and claims against them at a point in time The Income Statement Result of operations for a period of time The Statement of Retained Earnings Change in retained earnings for a period of time The Statement of Cash Flows Change in cash for a period of time
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The Balance Sheet Basic Accounting Equation Assets = Liabilities + Stockholders’ Equity Economic Resources Sources of Financing for Economic Resources
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THE HOME DEPOT, INC. AND SUBSIDIARIES CONDENSED BALANCE SHEETS amounts in millions, except per share data January 28, January 29, 2007 2006 ASSETS Cash and Cash Equivalents $ 600 $ 793 Short-Term Investments 14 14 Receivables, net 3,223 2,396 Merchandise Inventories 12,822 11,401 Other Current Assets 1,341 665 Property and Equipment, net: 26,605 24,901 Other Assets 7,658 4,235 Total Assets $52,263 $44,405
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THE HOME DEPOT, INC. AND SUBSIDIARIES CONDENSED BALANCE SHEETS amounts in millions, except per share data January 28, January 29, 2007 2006 LIABILITIES Accounts Payable $ 7,356 6,032 Accrued Salaries and Related Expenses 1,295 1,068 Deferred Revenue 1,634 1,757 Other current liabilities 2,628 3,336 Long-Term Debt 11,661 3,185 Other Long-Term Liabilities 2,659 2,118 Total Liabilities 27,233 17,496 STOCKHOLDERS’ EQUITY Common Stock 8,051 7,269 Retained Earnings 33,052 28,943 Other stockholders’ equity (16,073) (9,303) Total Stockholders’ Equity 25,030 26,909 Total Liabilities and Stockholders’ Equity $52,263 $44,405
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This note was uploaded on 01/31/2011 for the course MGMT 200 taught by Professor Greigg during the Fall '08 term at Purdue.

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Mgmt 200 Fall 2008 Chap 1 Financial Statements - MGMT 200...

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