Kieso, Weygandt, Warfield, Young, Wiecek Intermediate Accounting, Eighth Canadian Edition 15-3 CHAPTER REVIEW 1. Chapter 15 focuses on the shareholders' equity section of the corporate form of business organization. Shareholders' equity represents the amount that was contributed by the shareholders and the portion that was earned and retained by the enterprise. This chapter addresses the accounting issues related primarily to capital contributed by owners of a business organization. 2. Given that the CBCA and most provincial incorporation acts allow only for shares without par value, the chapter concentrates on the accounting for such shares. Appendix 15A is provided to cover the basic aspects of accounting for par value shares that are permitted in some Canadian jurisdictions, the U.S., and many other countries. The Nature of Shareholders' Equity 3. In a corporate form of business organization the shareholders are said to possess a residual interest in the business. This means that the shareholders (owners) bear the ultimate risks
This is the end of the preview. Sign up
access the rest of the document.
This note was uploaded on 03/28/2012 for the course ACCTG ACC423 taught by Professor Smith during the Spring '10 term at University of Phoenix.