Financial Statements Most Frequently Provided - balance sheet, income statement, statement of cash
flow, and statement of stockholder's equity
Financial Reporting - process of providing financial statement information to external users
Capital Markets - mechanisms that foster the allocation of resources efficently
Corporation - the dominant form of business organization that requires capital from investors in
exchange for ownership interest and from creditors by borrowing
Initial Market Transactions - provide for new cash by the issuance of stocks and bonds by the
corporation
Secondary Market Transactions - provide for the transfer of stocks and bonds among individuals and
institutions
Accrual Accounting - measurement of the entity's accomplishments and resource sacrifices during the
period, regardless of when cash is received or paid
Cash Basis Accounting - difference between cash receipts and cash disbursements during a reporting
period from transactions related to providing goods and services to customers
Net Operating Cash Flow - difference between cash receipts and cash disbursements from providing
goods and services
Net Income - difference between revenues and expenses
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