ch2_sp11 - BCOR 2000 Chapter 2 Investing and Financing...

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BCOR 2000 – Chapter 2 Investing and Financing Decisions and Investing and Financing Decisions and the Balance Sheet the Balance Sheet
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Game Plan Chapter 2 → just Balance Sheet for now: Investing activities Financing activities Chapter 3: Operating activities → Income Statement First Introduce Framework
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Conceptual Framework Qualitative Characteristics Relevance Reliability Comparability Consistency Qualitative Characteristics Relevance Reliability Comparability Consistency Elements of Statements Asset – B/S Liability – B/S Stockholders’ Equity – B/S Revenue – I/S Expense – I/S Gain – I/S Loss – I/S Elements of Statements Asset – B/S Liability – B/S Stockholders’ Equity – B/S Revenue – I/S Expense – I/S Gain – I/S Loss – I/S
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Definitions – Elements of Balance Sheet Asset – resource with probable future economic benefits owned or controlled by an entity as a result of a past transaction Liability – obligations resulting from past transactions that will be settled with assets or services Stockholders’ equity – residual claim on assets by owners, comprised of: Contributed Capital Retained Earnings
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Conceptual Framework Assumptions: Entity Going Concern / Continuity Unit of Measure Historical Cost Principle – initial measurement basis
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This note was uploaded on 10/29/2011 for the course BCOR 2000 taught by Professor Brush during the Spring '07 term at Colorado.

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ch2_sp11 - BCOR 2000 Chapter 2 Investing and Financing...

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