Intro All

Intro All - Econ/Mgmt 4 Winter 2011 Week 1 Introduction...

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Week 1 Econ/Mgmt 4 Winter 2011 Introduction
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Money-related Professions in  Context Scarcity : We want more than we have, or … we need what we don’t have – a chunk of ca$h.   Life Cycle : Time changes everything … needs, wants, resources, and prices. Risk : Shit happens plus …we seldom never know exactly what kind of shit it is -  so  CERTAINTY  is more desirable than uncertainty. Information helps …
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Economics : decisions about the  use of  resources  –  what do we want  most ? Finance :  decisions about the  inter-temporal  allocation of money : lending & borrowing;  investing. Risk-management decisions about the  management –  purchase or sale – of risk .
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Households make Deposits sell deposits to Banks Banks package Deposits and sell the packages as Loans Companies borrow from Banks – i.e. they purchase Loans Banks collect principal & interest to pay interest to Households Banks earn the interest rate spread Banks do Financial Intermediation
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Accountin g –  an  information system  for recording and  financial position. a) Control (bookkeeping & internal controls); b) Financial reporting; c) Auditing; d) Tax-planning; e) Management & Information systems consulting; f) Credentials: CPA, EA, CFE, CMA, Controller – job title 
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Contents 1.The Profession 2.The Accounting System & its Conceptual Foundations 3.Financial Reporting 4.First Illustration: Thai-me Up 5.More about Accrual Accounting 6. Accounting Choices: Ugly Puppy 7.GAAP as a Communications Device – Earnings Management 8.Financial Statement Analysis Appendices A.Basic Glossary B.History C.Financial Capital D.The Statement of Cash Flows E.Value F.Worksheet and Solutions to Thai-me Up and Ugly Puppy
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Contents 1.The Profession 2. 3. 4. 5. 6. 7. 8. Financial Statement Analysis Appendices A. B.History C. D. E.Value F. Optional
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Contents 1. 2. The Accounting System & its Conceptual Foundations 3. Financial Reporting 4. First Illustration: Thai-me Up 5. 6. Accounting Choices: Ugly Puppy 7. 8. Appendices A. Basic Glossary B. C. D. E. F. Worksheet and Solutions to Thai-me Up and Ugly Puppy Important
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1. 2.
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This note was uploaded on 03/20/2012 for the course ECON 4 taught by Professor Willoughby during the Spring '08 term at UCSD.

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Intro All - Econ/Mgmt 4 Winter 2011 Week 1 Introduction...

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