Create an account
statement that shows a firms assets, liabilites, & shareholders equity at any given point; snapshot of firms financial position at any given point
cash on hand, demand deposits, & short term marketable secrurites that can be quickly be converted to cash
investors who own the firms common stock; ommon stockholders are the residual owners of the firm
cost of goods sold
cost of producing or acquiring a product or service to be sold in the ordinary course of business
current assets (gross working capital)
consist primarily of cash, marketable securities, accounts receivalble, inventories, & prepaid expenses
stockholders' investment in the firm and the cumulative profits retained in the business up to the date of the balance sheet
free cash flow
amount of cash available from operations after the firm pays for the investments it has made in operating working capital and fixed assets; this cash is available to distribute to the firms creditors and owners
income statement (profit & loss statement)
a basic accounting statement that measures teh results of a firms operations over a specified period, commonly 1yr; aka 'profit & loss' statement; bottom line shows the firms profit or loss for the period
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