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13 Cards in this Set
- Front
- Back
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consolidated financial statements
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the combined financial statements of a parent corporation and its subsidiary corporations
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current assets
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resources of cash and items that will be converted to cash or used in generating income within one year of a normal operating cycle
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current liabilities
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obligations at the balance sheet date that are expected to be satisfied either by using current assets or by creating other current liabilities within one year
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current ratio
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total current assets: total current liabilities
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footnotes
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disclosures in the financial statements that contain additional information that's not in the body of financial statements
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liquidity
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ability to meet its short-term (current) obligations by maintaining enough cash or short-term investments that are easily convertible to cash
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long-term liabilities
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obligations at the balance sheet date that are expected to be paid beyond the next 12 months..AKA non-current liabilities
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net working capital
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current assets - current liabilities
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non-current receivables
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accounts and notes receivable that are not expected to be collected within one year of the balance sheet date
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other assets
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includes purchased goodwill, cash surrender value of life insurance policies, security deposits, organization costs
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purchased goodwill
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the excess of a hotel's purchase price over the dollars assigned to its individual assets
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restricted cash
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cash that has been deposited in separate accounts, often for retiring long-term debt
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retained earnings
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account for recording undistributed earnings of a corporation
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