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13 Cards in this Set
- Front
- Back
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Four Primary Financial Statements |
Balance sheet, Income statement, Statement of changes in shareholders equity, Statement of cash flows |
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Current assets |
Cash, inventory, accounts receivable, marketable securities |
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Noncurrent assets |
Assets that will be used over a period greater than one year. Grouped into tangible and intangible |
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Current liabilities |
Accounts payable, short-term debt, current position of long-term debt |
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Noncurrent liabilities |
Those that will be paid or satisfied more than one year after the balance sheet date |
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Shareholders equity |
Net amount of assets minus debts and obligations |
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COGS |
Amount that could have been sold (beginning inventory + additions to inventory) - ending inventory |
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Gross Profit (gross margin) |
Sales - COGS (Sometimes displayed as a percentage of gross sales) |
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Operating income amount |
Gross profit minus general operating expenses |
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Net income |
Revenue - expenses (including depreciation) + gains - losses - taxes |
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Statement of Comprehensive Income |
Reports net income, unrealized appreciation or depreciation of investments, gains or losses in currency translations, or changes in minimum pension liabilities |
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Statement of Shareholder's Equity |
Illustrates any changes to capital accounts, any activity affecting the value of shareholders' equity |
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Statement of Cash Flows |
Operating Activities, investing activities, financing activities |
