FIL 240 1st Edition Lecture 5 Outline of Last Lecture I Financial Intermediation II Federal Reserve Act a Definition of Federal Reserve Board b District Banks c Regulation Supervision d Federal Reserve Duties e Definition of Fiscal Policy f Definition of Monetary Policy g Federal Reserve Policy III 3 Tools of Monetary policy a Required Reserve Ratio b FOMC Outline of Current Lecture I Financial Statements II Accounting Equations a Definition of Depreciation III Income Statement IV Balance Sheet a Statement of Retained Earnings Current Lecture Does not include opportunity cost Covers non cash flow information I Financial Statements Balance sheet Income statement Statement of cash flows Statement of stockholders owner s equity Notes to the financial statements Most important part II Accounting Equations Assets Liabilities Stockholders Equity Fundamental Revenues Expenses Income Depreciation capitalized expense recognized in the current period These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute III IV Income Statement Revenues COGS Gross Margin SG A Expense Depreciation Operating Income Interest Expense Net Income Balance Sheet Assets Current Assets Cash Cash Equivalents Accounts Receivable Prepaid Expenses Rent Insurance etc Inventory Total Current Assets Long Term Assets Property Plant Equipment Accumulated Depreciation Total Long Term Assets Total Assets Liabilities Short Term Liabilities Accounts Payable Short Term Accruals Current Portion of Long Term Debt Total Short Term Liabilities Long Term Liabilities Bonds Payable Notes Payable Total Long Term Liabilities Total Liabilities Owner s Stockholders Equity Common Stock at par additional paid in capital Retained Earnings from statement of retained earnings Total Owner s Stockholder s Equity Total Liabilities Stockholders Equity a Statement of Retained Earnings Beginning RE Net Income Dividends RE Ending Balance
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