Introduction to Financial Statement Analysis Flashcards
_____________ are inflows from delivering or producing goods, rendering services, or other activities that constitute the entity’s ongoing major or central operations.
Revenues are inflows from delivering or producing goods, rendering services, or other activities that constitute the entity’s ongoing major or central operations.
_____________ are outflows from delivering or producing goods or services that constitute the entity’s ongoing major or central operations.
Expenses are outflows from delivering or producing goods or services that constitute the entity’s ongoing major or central operations.Expenses
_____________ are increases (decreases) in equity or net assets from peripheral or incidental transactions.
Gains and losses are increases (decreases) in equity or net assets from peripheral or incidental transactions.
_________ are probable current and future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.
Assets are probable current and future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.
_________ are probable current and future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.
Liabilities are probable current and future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.
_________ is the residual interest in the assets of an entity that remains after deducting its liabilities from its assets.
Owners’ equity is the residual interest in the assets of an entity that remains after deducting its liabilities from its assets.
assets = ________ + owners’ equity
assets = liabilities + owners’ equity
assets = liabilities + _________
assets = liabilities + owners’ equity
________ = liabilities + owners’ equity
assets = liabilities + owners’ equity
________ cash flows include the cash effects of transactions that involve the normal business of the firm.
Operating cash flows include the cash effects of transactions that involve the normal business of the firm.
________ cash flows are those resulting from acquisition or sale of property, plant, and equipment, of a subsidiary or segment, and purchase or sale of investments in other firms.
**Investing cash flows ** are those resulting from acquisition or sale of property, plant, and equipment, of a subsidiary or segment, and purchase or sale of investments in other firms.
________ cash flows are those resulting from issuance or retirement of debt and equity securities and dividends paid to stockholders.
Financing cash flows are those resulting from issuance or retirement of debt and equity securities and dividends paid to stockholders.
Revenues are inflows from ________ or ________ goods, rendering services, or other activities that constitute the entity’s _________ _________ ________.
Revenues are inflows from delivering or producing goods, rendering services, or other activities that constitute the entity’s ongoing major operations.
The statement of changes in owners’ equity reports the….
The statement of changes in owners’ equity reports the amounts and sources of changes in equity investors’ investment in the firm.
Financial statement notes are also known as _________
Financial statement notes are also known as footnotes.
