Intro Psutka F11_1

Intro Psutka F11_1 - AFM 101 Introduction to Financial...

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AFM 101: Introduction to Financial Accounting Donna Psutka
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Introductory Financial Accounting 2 External Users Useful information to make economic decisions Source of photo: www.icao.on.ca Source of photo: www.barrickgold. .com
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Financial Accounting answers several key questions to help investors and creditors assess the prospects for future cash inflows What are the economic resources of the entity and what are the claims against those resources? What were the changes in the economic resources, obligations and equity? What is the financial performance of the entity? What are their sources and uses of cash? 3
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Learning Outcomes Define and apply the principles of the financial reporting framework Recognize the role of professional judgement in financial statement preparation Analyze financial statements to make business decisions – primarily from a creditor or investor perspective 4
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Learning Outcomes Record basic business transactions Recognize the value of the School of Accounting and Finance “3 P’s” – prepare, participate and practice 5
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This note was uploaded on 10/27/2011 for the course AFM 101 taught by Professor Kennedy during the Fall '08 term at Waterloo.

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Intro Psutka F11_1 - AFM 101 Introduction to Financial...

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