Review Flashcards
1
Q
Father of Accounting
A
Fra Luca Pacioli
2
Q
Five Basic Financial Statements
A
Statement of Financial Position Statement Comprehensive Income / Statement of Financial Performance Statement of Changes in Equity Statement of Cash Flows Notes to Financial Statements
3
Q
Investors
A
External User
4
Q
Lenders
A
External Users
5
Q
Supplies and other trade creditors
A
External User
6
Q
Government and their agencies
A
External User
7
Q
Employees
A
External User
8
Q
Customers
A
External User
9
Q
Public
A
External User
10
Q
Internal Users
A
People who have the power to obtain any economic information they need
11
Q
Fundamental Business Model
A
- Debt & Equity
- People & Asset
- Revenues
- Profit
