9. Accounting - What Information is Needed? Click to edit...

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Click to edit Master subtitle style 8/25/11 What Information is Needed?
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8/25/11 What Do we want to know? What is coming in? What is going out? What do you have? What do you owe
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8/25/11 Profit Profit = Revenue – Costs Revenue = Income How much has the business brought in? From Where Costs = Expenses
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8/25/11 This information is: INCOME STATEMENT A summary of the income and expenses of a firm across a particular time frame.
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8/25/11 Income Statement Examples: Starbucks Fifth Third Bank http://library.corporate-ir.net/library/72/727/72735/items/321160/1F6BEBC9-28CE-4187-95EA-59E355B3F Miami University
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8/25/11 A note on stocks and flows A system, like a business, has various stocks and flows. Stocks are pools of things at a particular time Fish in a pond Oil in a well Inventory on a shelf Money in the bank
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8/25/11 A note on stocks and flows Flows: how things move around
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9. Accounting - What Information is Needed? Click to edit...

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