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Learning Objectives
1. Understand the purposes of the balance sheet. 2. Define the elements of a balance sheet. 3. Explain how to measure the elements of a balance
A = L + OE
Balance Sheet
Basic Definitions - SFAC No. 6
Assets Probable future economic benefits
obtained or controlled by a particular entity as a result of past
Balance Sheet Format
Asset Classifications
Cash
Inventories
Current Assets
Receivables
Prepayments
Balance Sheet Format
Asset Classifications
Investments and funds
Statement of Changes in Stockholders’ Equity
TAhiscosrtaptoermateinotnsmhouusltddsishcolwoseintvheestcmhaenngtsesbyinaintsd distrsitboucktihoonlsdteorso’wenqeuritsydaucrcinougntthewpheernioisds,uainmgong
transactions or events.
Balance Sheet
Basic Definitions - SFAC No. 6
Owners’ Equity The residual interest in the assets of
an entity that remains after its liabilities are deducted.
Intangibles
Noncurrent Assets
Property, Plant, & Equipment
Deferred Charges
Balance Sheet Format
Liability Classifications
Accounts Payable
Short-term Notes Payable
sheet. 4. Classify the assets of a balance sheet. 5. Classify the liabilities of a balance sheet. 6. Report the stockholders’ equity of a balance sheet. 7. Understand the concepts of income. 8. Explain the conceptual guidelines for reporting
Bonds Payable
Pension Liabilities
Balance Sheet Format
Equity Classifications
Capital Stock
Other Contributed Capital
Owners’ Equity
Retained Earnings
Treasury Stock
Balance Sheet
Resources (Assets)
Claims against resources (Liabilities)
Remaining claims accruing to owners
(Owner’s Equity)
Balance Sheet
Basic Accounting Identity
Current assets Current liabilities
= Working Capital Ratio
Balance Sheet Format
Liability Classifications
Capital Leases
Long-term Notes Payable
百度文库
Noncurrent Liabilities
Current Liabilities
Collections in advance of unearned revenue
Accrued Expenses
Working Capital
Less: Equals:
Current assets Current liabilities Working Capital
transactions or events.
Balance Sheet
Basic Definitions - SFAC No. 6
Liabilities Probable future sacrifices of economic
benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities as a result of past
finanotchiaelrsittaetmems.ents.
income.
Learning Objectives
9. Define the elements of an income statement. 10. Describe the major components of an income
statement. 11. Compute income from continuing operations. 12. Compute results from discontinued operations. 13. Identify extraordinary items. 14. Prepare a statement of retained earnings. 15. Report comprehensive income.
1. Understand the purposes of the balance sheet. 2. Define the elements of a balance sheet. 3. Explain how to measure the elements of a balance
A = L + OE
Balance Sheet
Basic Definitions - SFAC No. 6
Assets Probable future economic benefits
obtained or controlled by a particular entity as a result of past
Balance Sheet Format
Asset Classifications
Cash
Inventories
Current Assets
Receivables
Prepayments
Balance Sheet Format
Asset Classifications
Investments and funds
Statement of Changes in Stockholders’ Equity
TAhiscosrtaptoermateinotnsmhouusltddsishcolwoseintvheestcmhaenngtsesbyinaintsd distrsitboucktihoonlsdteorso’wenqeuritsydaucrcinougntthewpheernioisds,uainmgong
transactions or events.
Balance Sheet
Basic Definitions - SFAC No. 6
Owners’ Equity The residual interest in the assets of
an entity that remains after its liabilities are deducted.
Intangibles
Noncurrent Assets
Property, Plant, & Equipment
Deferred Charges
Balance Sheet Format
Liability Classifications
Accounts Payable
Short-term Notes Payable
sheet. 4. Classify the assets of a balance sheet. 5. Classify the liabilities of a balance sheet. 6. Report the stockholders’ equity of a balance sheet. 7. Understand the concepts of income. 8. Explain the conceptual guidelines for reporting
Bonds Payable
Pension Liabilities
Balance Sheet Format
Equity Classifications
Capital Stock
Other Contributed Capital
Owners’ Equity
Retained Earnings
Treasury Stock
Balance Sheet
Resources (Assets)
Claims against resources (Liabilities)
Remaining claims accruing to owners
(Owner’s Equity)
Balance Sheet
Basic Accounting Identity
Current assets Current liabilities
= Working Capital Ratio
Balance Sheet Format
Liability Classifications
Capital Leases
Long-term Notes Payable
百度文库
Noncurrent Liabilities
Current Liabilities
Collections in advance of unearned revenue
Accrued Expenses
Working Capital
Less: Equals:
Current assets Current liabilities Working Capital
transactions or events.
Balance Sheet
Basic Definitions - SFAC No. 6
Liabilities Probable future sacrifices of economic
benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities as a result of past
finanotchiaelrsittaetmems.ents.
income.
Learning Objectives
9. Define the elements of an income statement. 10. Describe the major components of an income
statement. 11. Compute income from continuing operations. 12. Compute results from discontinued operations. 13. Identify extraordinary items. 14. Prepare a statement of retained earnings. 15. Report comprehensive income.