LO-Ch2 - 4 Revenues 5 Expenses • Elements of the...

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September 17, 2009 Learning Objectives: Chapter 2: Assumptions Principles Constraints Monetary Unit Cost Materiality Economic Entity Revenue Recognition Cost-Benefit Time Period Matching Going Concern Full Disclosure Types of Accounts: 1. Assets 2. Liabilities 3. Shareholders’ Equity: (1) Share Capital, (2) Retained Earnings
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Unformatted text preview: 4. Revenues 5. Expenses • Elements of the Classified Balance Sheet Assets = Liabilities + Shareholders’ Equity GAAPs related to recording Balance Sheet items • Financial Statement Analysis – Ratio Analysis 1. Profitability 2. Liquidity 3. Solvency • Exercises: E2-2, P2-7A Net income...
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