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Financial Statement Users
Elements of Financial Section
Ratios
GAAP vs. IFRS
100
Wonders if the companies is using its resources wisely.
Who are the Directors?
100
The section that houses the auditor's conclusion about whether GAAP was followed and internal controls were effective
What is Auditor's Report?
100
Total Liabilities / Total Assets
What is debt-to-assets ratio?
100
Under IFRS, we call this statement the "Statement of Financial Position."
What is the Balance Sheet?
200
Wonders if the company can pay its liabilities.
Who are the creditors?
200
The section that contains the multi-year presentation of the four basic statements.
What is comparative financial statements?
200
Net Income / Total Revenues
What is net profit margin ratio?
200
Under IFRS, we call this statement the "Statement of Comprehensive Income".
What is the Income Statement?
300
Wonders if the company is following the rules (GAAP).
Who are the government regulators?
300
This section provides further information about the financial statements; crucial to understanding the financial statement data.
What is the financial statement notes?
300
Total Revenues / Average Total Assets
What is asset turnover ratio?
300
Under IFRS, we call this statement the "Statement of Cash Flows".
What is the Statement of Cash Flows?
400
Wonders how much the company's stock is worth.
Who are the Investors?
400
Annual filing of financial information.
What is 10-K?
400
Obtain financing, invest in assets, generate revenues, and produce net income.
What is a basic business model?
400
On the balance sheet under GAAP, we list accounts in this order.
What is liquidity?
500
Wonders, "How do we improve?"
Who are the Managers?
500
A list of who's overseeing and running the company.
What is Directors and Officers?
500
A ratio that tells you how much profit is earned from each dollar of revenue.
What is net profit margin ratio?
500
Under IFRS, the assets section lists these first.
What is Non-current Assets?