FSA3e_Mod01_042612

Procurement valuechain

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Unformatted text preview: nkages for Berkshire Hathaway ■ The income statement and the balance sheet are linked via retained earnings. For Berkshire Hathaway, the $13,213 million increase in retained earnings (reported on the balance sheet) equals its net income (reported on the income statement) plus a $28 million adjustment relating to adoption of a new accounting standard. Berkshire Hathaway did not pay dividends in 2007. ■ Retained earnings, contributed capital, and other equity balances appear both on the statement of stockholders’ equity and the balance sheet. ■ The statement of cash flows is linked to the income statement as net income is a component of operating cash flow. The statement of cash flows is also linked to the balance sheet as the change in the balance sheet cash account reflects the net cash inflows and outflows for the period. ©Cambridge Business Publishers, 2013 Information Beyond Financial Statements Management Discussion and Analysis (MD&A) Independent Auditor Report Financial Statement Footnotes Regulatory Filings and Proxy State...
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