This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Liabilities: Creditors' Claims Owners' Equity: Owners' Claims *These things are considered 'real' or 'permanent'* Income Statement: Net Income = Revenues - Expenses Revenues: An increase in net assets from providing goods and/or services Expenses: A decrease in net assets from providing goods and/or services Net Asset: Total Assets - Total Liabilities *Normal or temporary* Statement of Cash Flows: Changes in cash Operating: Relating to Income Statement Investing: Long term Assets Financing: Long term Liabilities and Owners' Equity Statement of Owners' Equity: derived from the other statements Accounting is the backbone of any business major in college. Certificates of Accountants: CPA,CMA, CIA, CFE...
View Full Document
- Spring '08
- Financial Accounting