financial management ch.7

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  1. what is a balance sheet?
    shows the firms assets and the claims against those assets.
  2. what is an income statement?
    summarizes the firms revenues and expenses over a period of time
  3. what is statement of retained earnings?
    reports changes in the equity accounts b/w balance sheet dates.
  4. what is net cash flow?
    sum of net incomeplus non cash adjustments
  5. what is the statement of cash flows?
    summarizes the changes in a company's cash position.
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financial management ch.7
financial management ch.7
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