{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

07_Finanical_Statements_I - 07 Elements Articulation of...

Info icon This preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Click to edit Master subtitle style 6/5/11 Elements & Articulation of Financial Statements – Income Statement Accountancy 301 Measurement & Disclosure Professor Clifton Brown 07 September 15, 2010
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Phenomena and attributes Strategy &  Risks  Economic  Resources Company Organizatio n &  Processes Economic  Performanc e Corporate  Responsibil ity Economic  Obligations
Image of page 2
Phenomenal attributes   phenomena Economic  Resources &  Obligations Liabilities  Owners’  Equity Assets
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
6/5/11 Assets – probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Liabilities – probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future as a result of past transactions or events. Owners’ equity (net assets) – the residual interest in assets of an entity that remains after deducting its liablilities.
Image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern