1
Q
What is retained earning?
A
RE is the company’s undistributed earnings. RE=Beg, RE +/-prior year adjustment+net income-dividend distribution
2
Q
What is working capital?
A
Working capital is company’s current asset minus current liability.
3
Q
What is current assent?
A
Asset is classified as current if the asset is expected to be realized in cash or consume/sold within the operating cycle or one year, which is longer.
Far
flashcards
Decks in class (12)
# Cards
-
FASB and Standard Setting9
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Accrual Accounting5
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Financial Accounting Standards Codification2
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Assumptions and Principles4
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Constraint and Present Value3
-
Fair Value Framework—Introduction and Definitions7
-
IASB Accounting Standards5
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Overview—General-Purpose Financial Statements Results3
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Income Statement7
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Balance Sheet3
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The statement of comprehensive income1
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The statement of retain earning1
