Financial Accounting Objective Financial statements Facebook Financial Accounting Objective Communicate information about financial condition and performance potential lenders can evaluate whether they should lend to a company potential investors can evaluate whether they should invest in a company Financial information includes financial about the reporting company’s Economic resources, claims against a company (Balance sheet) Effects of transactions and other events and conditions that change those resources and claims (Income, Comprehensive income, Stockholders’ equity and Cash flow Statements) Financial statements Balance sheet (Statement of financial condition) Picture of financial condition Assets (A) = Liabilities (L) + Equity (E) Assets resources that have probable future benefits Liabilities claims on resources Equity residual interest in the assets of an company after deducting liabilities
Contact information Prerequisites Course format Course materials Learning objectives Schedule Grading Quizzes 500 points Exams 500 points Policies Subject to revision Contact information Instructor: Elizabeth Stanny, PhD Email (best way to contact me): firstname.lastname@example.org Online office hours on Zoom: M-F beginning at 1 PM. I will stay on until all questions are answered. Other times available by appointment (to schedule, please email me). To attend office hours on Zoom click here.