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A303 Ch. 3


Liquidity period of time before an asset is converted to cash or until a liability is paid
Long-term solvency the riskiness of a company with regard to the amount of liabilities in its capital structure
Operating cycle period of time necessary to convert cash to raw materials, raw materials to finished product, the finished product to receivables, and then finally receivables back to cash
Cash equivalents short-term, highly liquid investments that can be readily converted to cash with little risk of loss
Prepaid expense represents an asset recorded when an expense is paid in advance, creating benefits beyond the current period
Accounts payable obligations to suppliers of merchandise or of services purchases on open account
Paid-in capital invested capital consisting primarily of amounts invested by shareholders when they purchase shares of stock from the corporation
Subsequent event a significant development that takes place after the company's fiscal year-end but before the financial statements are issued
Related-party transactions transactions with owners, management, families of owners or management, affiliated companies, and other parties that can significantly influence or be influenced by the company
Illegal acts violations of the law, such as bribes, kickbacks, and illegal contributions to political candidates
Proxy statement contains disclosures on compensation to directors and executives; sent to all shareholders each year
Vertical analysis expression of each item in the financial statements as a percentage of an appropriate corresponding total, or base amount, but within the same year
Current ratio current assets divided by current liabilities
Debt to equity ratio compares resources provided by creditors with resources provided by owners
Financial leverage by earning a return on borrowed funds that exceeds the cost of borrowing the funds, a company can provide its shareholders with a total return higher than it could achieve by employing equity funds alone
Created by: mpiontek
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