Comprehensive Income
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the total change in equity for a reporting period other than from
transactions with owners
Historical Cost Principle
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, Bases measurements on the amount given or received in the original
exchange transaction (original transaction value)
basis for measurement of many assets and liabilities
Vertical Analysis
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expresses each item in a financial statement as a percentage of an
appropriate corresponding total within the same year
Liquidity Ratios
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-Measures of the short-term ability of the company to pay its maturing
obligations and to meet unexpected needs for cash.
-Higher = Better
-Examples:
1. Working Capital
2. Current Ratio
3. Acid-test Ratio
Monetary Unit Assumption
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the total change in equity for a reporting period other than from
transactions with owners
Historical Cost Principle
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, Bases measurements on the amount given or received in the original
exchange transaction (original transaction value)
basis for measurement of many assets and liabilities
Vertical Analysis
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expresses each item in a financial statement as a percentage of an
appropriate corresponding total within the same year
Liquidity Ratios
Give this one a try later!
-Measures of the short-term ability of the company to pay its maturing
obligations and to meet unexpected needs for cash.
-Higher = Better
-Examples:
1. Working Capital
2. Current Ratio
3. Acid-test Ratio
Monetary Unit Assumption
Give this one a try later!
