Ch5 - Intermediate Accounting Intermediate Accounting...

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Unformatted text preview: Intermediate Accounting Intermediate Accounting Chapter 5 Chapter 5 Balance Sheet and Statement of Cash Flows Balance Sheet and Statement of Cash Flows Learning Objectives Learning Objectives Explain the uses and limitations of a balance sheet Explain the uses and limitations of a balance sheet Identify the major classifications of the balance sheet Identify the major classifications of the balance sheet Prepare a classified balance sheet using the report and the account Prepare a classified balance sheet using the report and the account formats formats Determine which balance sheet information requires supplemental Determine which balance sheet information requires supplemental disclosure. disclosure. Describe the major disclosure techniques for the balance sheet Describe the major disclosure techniques for the balance sheet Indicate the purpose of the statement of cash flows Indicate the purpose of the statement of cash flows Identify the content of the statement of cash flows Identify the content of the statement of cash flows Understand the usefulness of the statement of cash flows Understand the usefulness of the statement of cash flows 2 Balance Sheet Balance Sheet Usefulness of the Balance Sheet Usefulness of the Balance Sheet Evaluating the capital structure Evaluating the capital structure Assess risk and future cash flows Assess risk and future cash flows Analyze the companys: Analyze the companys: Liquidity, Liquidity, Solvency, and Solvency, and Financial flexibility. Financial flexibility. 3 LO 1: Explain the uses and limitations of a balance sheet. Balance Sheet Balance Sheet Limitations of the Balance Sheet Limitations of the Balance Sheet Most assets and liabilities are reported at historical cost. Most assets and liabilities are reported at historical cost. Use of judgments and estimates. Use of judgments and estimates. Many items of financial value are omitted. Many items of financial value are omitted. 4 LO 1: Explain the uses and limitations of a balance sheet Balance Sheet Balance Sheet 5 Classification in the Balance Sheet Classification in the Balance Sheet Three General Classifications Three General Classifications Assets, Liabilities, and Stockholders Equity Assets, Liabilities, and Stockholders Equity Companies further divide these classifications: Companies further divide these classifications: LO 2: Identify the major classifications of the balance sheet....
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Ch5 - Intermediate Accounting Intermediate Accounting...

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