Washington State University - Pullman Campus

Finance statements Ans provide information about organizations financial strength What are Financial statements? Ans They are Balance sheets, Income statements, Statements of cash flows What are financial statement sheets used for? Ans Used to spot opportunities and problems, help make business decisions balance sheet Ans a statement of a firms financial position on a particular date, also known as statement of financial position fiscal year Ans any 12 consecutiv...

Return on Sales: Definition Ans how well a company generates profit Return of Equity: Definition Ans income earned on owner's investment Earning per Share: Definition Ans profit earned per share outstanding Current Ratio: Definition Ans whether a company can pay its bills Quick Ratios: Definition Ans whether a company can pay its bills without inventory Inventory Turnover: Definition Ans how well a company manages inventory

SWOT analysis Ans Strengths: What do we do well? (Internal Factors) Weaknesses: What do we lack? (Internal Factors) Opportunities: positive situations (external factors) that represent generating new revenue Threats: negative forces (external factors) that inhibit a firms ability to achieve its objectives KindyBis SWOT Ans S: high quality socks, larger market presence, economically friendly W: decreasing sales, high cost of production, only one made of transp...

assets Ans resources owned by a business that hold intrinsic, quantifiable value. balance sheet Ans provides detail information about assets, liabilities, and owner's equity. assets = liabilities + owners equity cash flow statement Ans offers a detailed narrative of what happened to the business' cash during a period costs of goods sold (COGS) Ans the expenses related to the business' producing a good, such as purchased materials and the labor used in produc...

Owner's Equity Ans Assets - Liabilities A company has the following assets: (1) Fixed assets worth $30,000 and (2) investments worth $6,000. The company's total liabilities amount to $25,000. What is the owners' equity of the company? Ans $11,000 Owners' equity = Assets - Liabilities = $36,000 - $25,000 = $11,000 Which of the following is an example of a current asset? Accounts Receivable Goodwill Land Equipment Intellectual Property Ans Accounts Recei...

Accounting Ans the process of capturing, identifying, measuring, and reporting a company's financial transactions. Accurate and timely financial information is important to businesses such as GE for two reasons: Ans First, it helps managers and owners plan and control a company's operations and make informed business decisions. Second, it helps outsiders evaluate a business. Suppliers, banks, and other parties want to know whether a business is creditworthy; shareholders...

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