SESSION:14 Using Financial Information and Accounting
Preparing for Tomorrow’s Workplace Skills
Session:14 Using Financial Information and Accounting Preparing for Tomorrow’s Workplace Skills Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business Your firm has been hired to help several small businesses with their year-end financial statements. Based on the following account […]
SESSION:14 Using Financial Information and Accounting
Summary of Learning Outcomes
Session:14 Using Financial Information and Accounting Summary of Learning Outcomes Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business 14.1 Accounting: More than Numbers Why are financial reports and accounting information important, and who uses them? Accounting involves collecting, recording, classifying, […]
SESSION:14 Using Financial Information and Accounting
Key Terms
Session:14 Using Financial Information and Accounting Key Terms Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business accounting The process of collecting, recording, classifying, summarizing, reporting, and analyzing financial activities. acid-test (quick) ratio The ratio of total current assets excluding […]
SESSION:14 Using Financial Information and Accounting
14.8 Trends in Accounting
Session:14 Using Financial Information and Accounting 14.8 Trends in Accounting Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business What major trends affect the accounting industry today? The post-SOX business environment has brought many changes to the accounting profession. When […]
SESSION:14 Using Financial Information and Accounting
14.7 Analyzing Financial Statements
Session:14 Using Financial Information and Accounting 14.7 Analyzing Financial Statements Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business How can ratio analysis be used to identify a firm’s financial strengths and weaknesses? Individually, the balance sheet, income statement, and […]
SESSION:14 Using Financial Information and Accounting
14.6 The Statement of Cash Flows
Session:14 Using Financial Information and Accounting 14.6 The Statement of Cash Flows Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business Why is the statement of cash flows an important source of information? Net profit or loss is one measure […]
SESSION:14 Using Financial Information and Accounting
14.5 The Income Statement
Session:14 Using Financial Information and Accounting 14.5 The Income Statement Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business How does the income statement report a firm’s profitability? The balance sheet shows the firm’s financial position at a certain point […]
SESSION:14 Using Financial Information and Accounting
14.4 The Balance Sheet
Session:14 Using Financial Information and Accounting 14.4 The Balance Sheet Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business In what terms does the balance sheet describe the financial condition of an organization? The balance sheet, one of three financial statements […]
SESSION:14 Using Financial Information and Accounting
14.3 Basic Accounting Procedures
Session:14 Using Financial Information and Accounting 14.3 Basic Accounting Procedures Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business What are the six steps in the accounting cycle? Using generally accepted accounting principles, accountants record and report financial data in […]
SESSION:14 Using Financial Information and Accounting
14.2 The Accounting Profession
Session:14 Using Financial Information and Accounting 14.2 The Accounting Profession Entrepreneurship | Leadership Development – Micro-Learning Session Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introduction-business What are the differences between public and private accountants, and how has federal legislation affected their work? When you think of […]