Stockholders' equity account

Value of the stockholders' claims to the corporation

Shows increase in stockholders' equity from portion of net income not distributed to stockholders.

Accounting information comparable from one fiscal period to another

Confidence users that have in financial information is reasonably free from bias and error

Requirement that all information that would affect the decisions of financial statement users be disclosed in the financial reports

Financial reports that include enough information to be complete

Relevant information that should be included in financial reports

Amount of sales for the period less any sales discounts and returns and allowances

All costs related to merchandise purchased during the period

Profit before operation expenses are deducted

Costs of goods and services used in process of earning revenue

Optional subdivision of operating expenses, sell/market the merchandise sold

Optional subdivision of operating expenses, management costs of the business

Excess gross profit over operating expenses

Every dollar amount also represented as a percentage of another amount

Reports the changes in Retained Earnings account

Comparison of same items on financial statements for two or more accounting periods/dates, includes predictions for the next period

Period used for comparison

Receipts of cash coming in

Payments of cash going ut

All transactions during the accounting period

Loans made, payments received for loans, purchase and sale of plant assets, investments

Borrowing activities needed to finance the company operations and repayment of debts