A100+things+we+know+-+2nd+class+meeting - A100 2nd class...

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A100 – 2nd class meeting
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Some things we know We also know the “story” that links all these things (below) together. For example, we know that the SEC has oversight responsibility over the FASB, which creates GAAP that must be followed by businesses and verified by external auditors. Be sure that you can tell a complete story that encompasses all the items below. You should be able to write a page explaining all these things well enough that a reasonably interested person would be able to read and understand all of them and how they are related. What we mean by this taxonomy of business activities: Financing activities Involve the collection of capital through equity or debt issuances and related payments to capital providers (e.g. debt payments, dividends, and stock repurchase) Investing activities Involve the acquisition and sale of producing assets, the assets used to produce and support the goods and servicies provided Operating activities Involve managin the producing assets, which primarily includes activities related to the production of goods and servicies. Who these people and organizations are, the roles they play in business,
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  • Summer '09
  • prof.ds
  • International Financial Reporting Standards, U.S. Securities and Exchange Commission, Accounting standards Board, Financial Reporting Standards, Who- Financial Accounting Standards Board

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A100+things+we+know+-+2nd+class+meeting - A100 2nd class...

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