会计学原理英文版第一章

1Youliklyhaagnralconcptofaccounting.Informationaboutthtransactionsandntsofabusinssiscapturdandsummarizdintorportsthatarusdbyprsonsintrstdinthntity.But,youliklydonotralizthcomplxityofaccomplishingthistask.Itinolsatalntdblndingoftchnicalknowldgandmasurmntartistrythatcanonlybfullyapprciatdiaxtnsistudyofthsubjct.Thbstanalogyistosaythatyouprobablyknowwhatasurgondos,butyounodoubtapprciatthatconsidrablknowldgandskillisnddtosuccssfullytratapatint.Ifyouwrstudyingtobasurgon,youwouldliklybginwithsombasicanatomyclass.Inthischaptr,youwillbginyourstudyofaccountingbylookingatthorallstructurofaccountingandthbasicanatomyofrporting.Badisdthatatruundrstandingofaccountingdosnotcomasily.Itonlycomswithdtrminationandhardwork.Ifyouprsr,youwillbsurprisdathowmuchyoudiscoraboutaccounting.Thisknowldgisryaluabltobusinsssuccss.Itsmsfittingtobginwithamorformaldfinitionofaccounting:Accountingisastofconcptsandtchniqusthatarusdtomasurandrportfinancialinformationaboutanconomicunit.Thconomicunitisgnrallyconsidrdtobasparatntrpris.Thinformationispotntiallyrportdtoaarityofdiffrnttypsofintrstdpartis.Thsincludbusinssmanagrs,ownrs,crditors,gornmntalunits,financialanalysts,andnmploys.Inonwayoranothr,thsusrsofaccountinginformationtndtobconcrndaboutthirownintrstsinthntity.Businssmanagrsndaccountinginformationtomaksoundladrshipdcisions.Instorshopforprofitsthatmayntuallyladtodistributionsfromthbusinss(.g.,“diidnds”).Crditorsaralwaysconcrndaboutthntity’sabilitytorpayitsobligations.Gornmntalunitsndinformationtotaxandrgulat.Analystsusaccountingdatatoformopinionsonwhichthybasinstmntrcommndations.Employswanttoworkforsuccssfulcompanistofurthrthirindiidualcarrs,andthyoftnhabonussoroptionstidtontrprisprformanc.Accountinginformationaboutspcificntitishlpssatisfythndsofallthsintrstdpartis.AccountinginformAtionAccountingdfindchaptronYourgoalsforthis“wlcoming”chaptrartolarnabout:Thnaturoffinancialandmanagrialaccountinginformation. Thaccountingprofssionandaccountingcarrs. Thaccountingquation:Assts=Liabilitis+Ownrs’Equity. Howtransactionsimpactthaccountingquation. Thfourcorfinancialstatmnts. WlcomtothWorldofAccounting2|CHAPTER1Thdirsityofintrstdpartisladstoalogicaldiisioninthdisciplinofaccounting:financialaccountingandmanagrialaccounting.financialaccountingisconcrndwithxtrnalrportingofinformationtopartisoutsidthfirm.Incontrast,managrialaccountingisprimarilyconcrndwithproidinginformationforintrnalmanagmnt.Youmayhasomtroublsingwhyadistinctionisndd;aftrall,arn’tfinancialfactsbingrportd?Lt’slookclosratthdistinctions.Considrthatfinancialaccountingistargtdtowardabroadbasofxtrnalusrs,nonofwhomcontrolthactualprparationofrportsorhaaccsstoundrlyingdtails.Thirabilitytoundrstandandhaconfidncinrportsisdirctlydpndntuponstandardizationofthprinciplsandpracticsthatarusdtoprparthrports.Withoutsuchstandardization,rportsofdiffrntcompaniscouldbhardtoundrstandandnhardrtocompar.Standardizationdrisfromcrtainwllorganizdprocsssandorganizations.InthUnitdStats,apriatsctorgroupcalldthfinancialAccountingStandardsBoard(fASB)isprimarilyrsponsiblfordlopingthrulsthatformthfoundationoffinancialrporting.ThFASB’sglobalcountrpartisthintrnationalAccountingStandardsBoard(iASB).ThIASBandFASBarworkingtowardconrgnc,suchthatthrmaysoonbasinglharmoniousstofintrnationalfinancialrportingstandards(IFRS).Thisfforttostablishconsistncyinglobalfinancialrportingisdrinbythincrasinglobaltradandfinanc.Justasstandardizationisnddtonablcomparisonsbtwnindiidualcompanisopratingwithinasinglconomy,sotooisstandardizationnddtofacilitatglobalbusinssaluations.Financialrportsprpardundrthgnrallyaccptdaccountingprincipls(GAAP)promulgatdbysuchstandardsttingbodisarintnddtobgnralpurposinorintation.Thismansthyarnotprpardspciallyforownrs,orcrditors,oranyothrparticularusrgroup.Instad,thyarintnddtobquallyusfulforallusrgroups.Assuch,attmptsarmadtokpthmfrfrombias(nutral).Insharpcontrasttofinancialaccounting,managrialaccountinginformationisintnddtosrthspcificndsofmanagmnt.Businssmanagrsarchargdwithbusinssplanning,controlling,anddcisionmaking.Assuch,thymaydsirspcializdrports,budgts,productcostingdata,andothrdtailsthatargnrallynotrportdonanxtrnalbasis.Furthr,managmntmaydictatthparamtrsundrwhichsuchinformationistobaccumulatdandprsntd.Forinstanc,GAAPmayrquirthatcrtainproductdlopmntcostsbdductdimmdiatlyincomputingabusinss’sxtrnallyrportdincom;onthothrhand,managmntmaysthscostsasalongtrminstmntandstipulatthatintrnaldcisionmakingbbasduponincomnumbrsthatxcludsuchcosts.Thisisthirprrogati.Hopfully,suchintrnalrportingisbingdonlogicallyandrationally,butitndnotfollowanyparticularstofmandatoryguidlins.Bothfinancialaccountingandmanagrialaccountingdpnduponastronginformationsystmtorliablycapturandsummarizbusinsstransactiondata.Informationtchnologyhasradicallyrshapdthismundanpartofthpracticofaccountingorthpast50yars.Thraofth“grnyshadd”accountanthasbnrlgatdtothannalsofhistory.Now,accountingismorofadynamic,dcisionmakingdisciplin,rathrthanabookkpingtask.Accountingdataarnotabsolutorconcrt.Considrablamountsofjudgmntandstimationarncssarytodlopthspcificaccountingmasurmntsthatarrportdduringaparticularmonth,quartr,oryar.Forxampl,howmuchprofitisactuallyarndwhnacarissoldwitha3yarwarranty?Itwillbthryarsbforthfinalcostsofthiswarrantyagrmntarallknown.Onapproachwouldbtowaitthryarsbforrportingonthprofitorlossforthistransaction.Howr,bythtimthinformationcouldbrportdwithcrtainty,itwouldbsostalastolositsusfulnss.Thus,inordrtotimlyprsntinformation,rasonablstimationsarroutinlymbracdinthnormalprparationofpriodicfinancialrports.finAnciAlAccountingMAnAgriAlAccountingAquAlityinforMAtionSyStMinhrntliMitAtionSWELCOMETOTHEWORLDOFACCOUNTING|3Inaddition,accountinghasnotadancdtoastatofbingabltoaluabusinss.Assuch,manytransactionsandntsarrportdbasdonthhistoricalcostprincipl(incontrasttofairalu).Forxampl,landistypicallyrcorddandcarridinthaccountingrcordsatthpricatwhichitwaspurchasd.Thhistoricalcostprinciplisbasdonthconcptthatitisbsttorportcrtainfinancialstatmntlmntsatamountsthatartidtoobjctiandrifiablpasttransactions.Thaltrnatiistoalu(andpriodicallyralu)accountsbasduponsubjctiassssmntsofcurrntworth.Suchadjustmntsarproblmaticandthsubjctofmuchdbat.Nrthlss,thcurrnttrndinglobalstandardsttingistowardanincrasdaccptancofthcircumstancsundrwhichfairaluaccountingisdmdaccptablforslctdfinancialstatmntlmnts.Thongoingdbataboutfairalursushistoricalcostisoftncastinthcontxtofatradoffbtwnth“rlanc”offairaluinformationandth“rliability”ofhistoricalcostinformation.Thisdbatisapttocontinu,andthrlatdaccountingstandardswillliklybinanolutionarystatformanyyarstocom.Todcidtobanaccountantisnomordscriptithandcidingtobadoctor.Thrarmanyspcialtyaras.Manyaccountantsngaginthpracticof“public”accounting,whichinolsproidingaudit,tax,andconsultingsricstothgnralpublic.Tongaginthpracticofpublicaccountingusuallyrquirsontoblicnsd.InthUnitdStats,indiidualstatsissualicnscalldacPA(crtifidPublicAccountant).Othrcountrisoffrsimilardsignationssuchasth“ChartrdAccountant.”Auditinginolsthxaminationoftransactionsandsystmsthatundrlianorganization’sfinancialrports,withthultimatgoalofproidinganindpndntrportonthappropriatnssoffinancialstatmnts.Taxsricsrlattothproidingofhlpinthprparationandfilingoftaxrturnsandthrndringofadiconthtaxconsquncsofaltrnatiactions.Consultingsricscanarydramatically,andincludsuchdirsactiitisasinformationsystmsnginringtoaluatingproductionmthods.Manyaccountantsarpriatlymploydbysmallandlargbusinsss(i..,“industryaccounting”)andnotforprofitagncis(suchashospitals,unirsitis,andcharitablgroups).Thymayworkinarasofproductcostingandpricing,budgting,andthxaminationofinstmntaltrnatis.Thymaysrasintrnalauditors,wholookatcontrolsandprocdursinusbythirmployr.Objctisofthsriwsartosafguardcompanyrsourcsandassssthrliabilityandaccuracyofaccountinginformationandaccountingsystms.Thymaysrasinhoustaxaccountants,financialmanagrs,orcountlssothroccupations.Itprobablygoswithoutsayingthatmanyaccountantsalsoworkinthgornmntalsctor,whthritblocal,stat,ornationallls.ManyaccountantsarmploydatthIntrnalRnuSric,GnralAccountingOffic,ScuritisandExchangCommission,andnthFdralBurauofInstigation.Bcausinstorsandcrditorsplacgratrlianconfinancialstatmntsinmakingthirinstmntandcrditdcisions,itisimpratithatthfinancialrportingprocssbtruthfulanddpndabl.Accountantsarxpctdtobhainanntirlythicalfashion.Tohlpinsurintgrityinthrportingprocss,thprofssionhasadoptdacodofthicstowhichitslicnsdmmbrsmustadhr.Inaddition,chcksandbalancsiathauditprocss,gornmntorsight,andthrigilant“plaintiff’sattorny”allsraitalrolinproidingadditionalsafguardsagainstthrrantaccountant.Ifyouarprparingtontrthaccountingprofssion,youshoulddosowiththintntionofbhaingwithhonorandintgrity.Ifyouarnotplanningtontrthprofssion,youwillliklyrlyuponaccountantsinsomaspctofyourprsonalorprofssionallif.Youharyrighttoxpctthosaccountantstobhainacompltlytrustworthyandthicalfashion.Aftrall,youwillbntrustingthmwithyourfinancialrsourcsandconfidntialinformation.thEAccountingProfEssionAndcArEErsAccountingAndProfSSionAlthicS4|CHAPTER1Thbasicfatursofthaccountingmodlwustodaytracthirrootsbackor500yars.LucaPacioli,aRnaissancramonk,dlopdamthodfortrackingthsuccssorfailuroftradingnturs.Thfoundationofthatsystmcontinustosrthmodrnbusinssworldwll,andisthntrnchdcornrstonofnthmostlaboratcomputrizdsystms.Thnuclusofthatsystmisthnotionthatabusinssntitycanbdscribdasacollctionofasstsandthcorrspondingclaimsagainstthosassts.Thclaimscanbdiiddintothclaimsofcrditorsandownrs(i..,liabilitisandownrs’quity).Thisgisristothfundamntalaccountingquation:Assts=liabilitis+ownrs’quityAsstsarthconomicrsourcsofthntity,andincludsuchitmsascash,accountsrciabl(amountsowdtoafirmbyitscustomrs),inntoris,land,buildings,quipmnt,andnintangiblasstslikpatntsandothrlgalrightsandclaims.Asstsarprsumdtontailprobablfuturconomicbnfitstothownr.liabilitisaramountsowdtoothrsrlatingtoloans,xtnsionsofcrdit,andothrobligationsarisinginthcoursofbusinss.ownrs’quityisthownr“intrst”inthbusinss.Itissomtimscalldntassts,bcausitisquialnttoasstsminusliabilitisforaparticularbusinss.Whoarth“ownrs?”Thanswrtothisqustiondpndsonthlgalformofthntity;xamplsofntitytypsincludsolpropritorships,partnrships,andcorporations.Asolpropritorshipisabusinssowndbyonprson,anditsquitywouldtypicallyconsistofasinglownr’scapitalaccount.Conrsly,apartnrshipisabusinssowndbymorthanonprson,withitsquityconsistingofsparatcapitalaccountsforachpartnr.Finally,acorporationisarycommonntityform,withitsownrshipintrstbingrprsntdbydiisiblunitsofownrshipcalldsharsofstock.Thssharsarasilytransfrabl,withthcurrntholdr(s)ofthstockbingthownrs.Thtotalownrs’quity(i..,“stockholdrs’quity”)ofacorporationusuallyconsistsofsralamounts,gnrallycorrspondingtothownrinstmntsinthcapitalstock(bysharholdrs)andadditionalamountsgnratdthrougharningsthathanotbnpaidouttosharholdrsasdiidnds(diidndsardistributionstosharholdrsasarturnonthirinstmnt).Earningsgiristoincrassin“rtaindarnings,”whildiidnds(andlosss)causdcrass.Thaccountingquationisthbackbonofthaccountingandrportingsystm.Itiscntraltoundrstandingakyfinancialstatmntknownasthbalancsht(somtimscalldthstatmntoffinancialposition).ThfollowingillustrationforEdlwissCorporationshowsaarityofasststhatarrportdatatotalof$895,000.Crditorsarowd$175,000,laing$720,000ofstockholdrs’quity.Thstockholdrs’quitysctionisdiiddintoth$120,000thatwasoriginallyinstdinEdlwissCorporationbystockholdrs(i..,capitalstock),andthothr$600,000thatwasarnd(andrtaind)bysuccssfulbusinssprformancorthlifofthcompany.Dosthstockholdrs’quitytotalmanthbusinssisworth$720,000?No!Whynot?Bcausmanyasstsarnotrportdatcurrntalu.Forxampl,althoughthlandcost$125,000,thbalancshtdosnotrportitscurrntworth.Similarly,thbusinssmayhaunrcorddrsourcs,suchasatradscrtorabrandnamthatallowsittoarnxtraordinaryprofits.IfonislookingtobuystockinEdlwissCorporation,thywouldsurlygiconsidrationtothsimportantnonfinancialstatmntaluationconsidrations.Thisobsrationtllsusthataccountingstatmntsarimportantininstmntandcrditdcisions,butthyarnotthsolsourcofinformationformakinginstmntandcrditdcisions.thEAccountingEquAtionASStSliABilitiSownrS’quityBAlAncShtWELCOMETOTHEWORLDOFACCOUNTING|5dlwiSScorPorAtionBalancShtdcmbr31,20X3AsstsliabilitisCash$25,000Accountspayabl$50,000Accountsrciabl50,000Loanspayabl125,000Inntoris35,000Totalliabilitis$175,000Land125,000Stockholdrs’quityBuildings400,000Capitalstock$120,000Equipmnt250,000Rtaindarnings600,000Othrassts10,000Totalstockholdrs’quity720,000Totalassts$895,000Totalliabilitisandquity$895,000Assts($895,000)=liabilitis($175,000)+Stockholdrs’quity($720,000)ThprcdingbalancshtforEdlwisswasstatic.Thismansthatitrprsntdthfinancialconditionatthnotddat.But,achpassingtransactionorntbringsaboutachanginthorallfinancialcondition.Businssactiitywillimpactariousasst,liability,andorquityaccounts;but,itwillnotdisturbthqualityofthaccountingquation.So,howdosthishappn?Toralthanswrtothisqustion,lt’slookatfourspcifictransactionsforEdlwissCorporation.Youwillshowachtransactionimpactsthindiidualasst,liability,andquityaccounts,withoutupsttingthbasicqualityofthorallbalancsht.IfEdlwissCorporationcollctd$10,000fromacustomronanxistingaccountrciabl(i..,notanwsal,justthcollctionofanamountthatisdufromsomprioustransaction),thnthbalancshtwouldbrisdasfollows:dlwiSScorPorAtionBalancShtdcmbr31,20X3(bforindicatdtransaction)dlwiSScorPorAtionBalancShtdcmbr31,20X3(aftrindicatdtransaction)AsstsAsstsCash$25,000+$10,000Cash$35,000Accountsrciabl50,000$10,000Accountsrciabl40,000Inntoris35,000Inntoris35,000Land125,000Land125,000Building400,000Building400,000Equipmnt250,000Equipmnt250,000Othrassts10,000Othrassts10,000Totalassts$895,000Totalassts$895,000liabilitisliabilitisAccountspayabl$50,000Accountspayabl$50,000Loanspayabl125,000Loanspayabl125,000Totalliabilitis$175,000Totalliabilitis$175,000Stockholdrs’quityStockholdrs’quityCapitalstock$120,000Capitalstock$120,000Rtaindarnings600,000Rtaindarnings600,000Totalstockholdrs’quity720,000Totalstockholdrs’quity720,000Totalliabilitisandquity$895,000Totalliabilitisandquity$895,000hoWtrAnsActionsimPActthEAccountingEquAtiondlwiSScollctSAnAccountrciVABl6|CHAPTER1Thillustrationplainlyshowsthatcash(anasst)incrasdfrom$25,000to$35,000,andaccountsrciabl(anasst)dcrasdfrom$50,000to$40,000.Asarsulttotalasstsdidnotchang,andliabilitisandquityaccountswrunaffctd.Thus,asstsstillqualliabilitisplusquity.IfEdlwissCorporationpurchasd$30,000ofquipmnt,agringtopayforitlatr(i..takingoutaloan),thnthbalancshtwouldbfurthrrisdasfollows.dlwiSScorPorAtionBalancShtdcmbr31,20X3(bforindicatdtransaction)dlwiSScorPorAtionBalancShtdcmbr31,20X3(aftrindicatdtransaction)AsstsAsstsCash$35,000Cash$35,000Accountsrciabl40,000Accountsrciabl40,000Inntoris35,000Inntoris35,000Land125,000Land125,000Building400,000Building400,000Equipmnt250,000+$30,000Equipmnt280,000Othrassts10,000Othrassts10,000Totalassts$895,000Totalassts$925,000liabilitisliabilitisAccountspayabl$50,000Accountspayabl$50,000Loanspayabl125,000+$30,000Loanspayabl155,000Totalliabilitis$175,000Totalliabilitis$205,000Stockholdrs’quityStockholdrs’quityCapitalstock$120,000Capitalstock$120,000Rtaindarnings600,000Rtaindarnings600,000Totalstockholdrs’quity720,000Totalstockholdrs’quity720,000Totalliabilitisandquity$895,000Totalliabilitisandquity$925,000Thisillustrationshowsthatquipmnt(anasst)incrasdfrom$250,000to$280,000,andloanspayabl(aliability)incrasdfrom$125,000to$155,000.Asarsult,bothtotalasstsandtotalliabilitisincrasdby$30,000.WhatwouldhappnifEdlwissCorporationdidsomworkforacustomrinxchangforthcustomr’spromistopay$5,000?Thisrquirsfurthrxplanation;trytofollowthislogicclosly!Youalradyknowthatrtaindarningsisthincomofthbusinssthathasnotbndistributdtothownrsofthbusinss.WhnEdlwissCorporationproiddasrictoacustomr,itcanbsaidthatitgnratdrnuof$5,000.rnuisthnhancmntrsultingfromproidinggoodsorsricstocustomrs.Rnuwillcontributtoincom,andincomisadddtortaindarnings.Asyouxaminthrsultingbalancsht,noticthataccountsrciablandrtaindarningswntupby$5,000ach,indicatingthatthbusinsshasmorasstsandmorrtaindarnings.Notthatasstsstillqualliabilitisplusquity.Itwouldbnicifabusinsscouldbrunwithoutincurringanyxpnss.Howr,suchisnotthcas.Expnssarthoutflowsandobligationsthatarisfromproducinggoodsandsrics.ImaginthatEdlwisspaid$3,000forxpnss.Thistransactionrducscashandincom(i..,rtaindarnings).Thnxtstofbalancshtsshowsthisimpact.Thrarcountlsstransactions,andachcanbdscribdbyitsimpactonassts,liabilitis,andquity.Importantly,notransactionwillupstthbalancofthaccountingquation.dlwiSSBuySquiPMntwithloAnProcdSdlwiSSProVidSSrVicStoAcuStoMronAccountdlwiSSPAySXPnSSgnrAlizingWELCOMETOTHEWORLDOFACCOUNTING|7Sricstoacustomronaccount:dlwiSScorPorAtionBalancShtdcmbr31,20X3(bforindicatdtransaction)dlwiSScorPorAtionBalancShtdcmbr31,20X3(aftrindicatdtransaction)AsstsAsstsCash$35,000Cash$35,000Accountsrciabl40,000+$5,000Accountsrciabl45,000Inntoris35,000Inntoris35,000Land125,000Land125,000Building400,000Building400,000Equipmnt280,000Equipmnt280,000Othrassts10,000Othrassts10,000Totalassts$925,000Totalassts$930,000liabilitisliabilitisAccountspayabl$50,000Accountspayabl$50,000Loanspayabl155,000Loanspayabl155,000Totalliabilitis$205,000Totalliabilitis$205,000Stockholdrs’quityStockholdrs’quityCapitalstock$120,000Capitalstock$120,000Rtaindarnings600,000+$5,000Rtaindarnings605,000Totalstockholdrs’quity720,000Totalstockholdrs’quity725,000Totalliabilitisandquity$925,000Totalliabilitisandquity$930,000Paysxpnss:dlwiSScorPorAtionBalancShtdcmbr31,20X3(bforindicatdtransaction)dlwiSScorPorAtionBalancShtdcmbr31,20X3(aftrindicatdtransaction)AsstsAsstsCash$35,000$3,000Cash$32,000Accountsrciabl45,000Accountsrciabl45,000Inntoris35,000Inntoris35,000Land125,000Land125,000Building400,000Building400,000Equipmnt280,000Equipmnt280,000Othrassts10,000Othrassts10,000Totalassts$930,000Totalassts$927,000liabilitisliabilitisAccountspayabl$50,000Accountspayabl$50,000Loanspayabl155,000Loanspayabl155,000Totalliabilitis$205,000Totalliabilitis$205,000Stockholdrs’quityStockholdrs’quityCapitalstock$120,000Capitalstock$120,000Rtaindarnings605,000$3,000Rtaindarnings602,000Totalstockholdrs’quity725,000Totalstockholdrs’quity722,000Totalliabilitisandquity$930,000Totalliabilitisandquity$927,0008|CHAPTER1Indaytodayconrsation,somtrmscanoftnbusdcasuallyandwithoutagratdalofprcision.Wordsmaybtratdassynonymous,whninfactthyarnot.Suchisthcasforthwords“incom”and“rnu.”Eachtrmhasaryprcismaning,andyoushouldaccustomyourslftothcorrctusag.Ithasalradybnpointdoutthatrnusarnhancmntsrsultingfromproidinggoodsandsricstocustomrs.Conrsly,xpnsscangnrallybrgarddascostsofdoingbusinss.Thisgisristoanothraccountingquation:rnusxpnss=incomRnuisth“toplin”amountcorrspondingtothtotalbnfitsgnratdfrombusinssactiity.Incomisth“bottomlin”amountthatrsultsaftrdductingxpnssfromrnu.Insomcountris,rnuisalsorfrrdtoas“turnor.”Yourfuturwillundoubtdlybmarkdbynumrousdcisionsaboutinstingmonyinthcapitalstockofsomcorporation.Anothroptionthatwillprsntitslfistolndmonytoacompany,ithrdirctly,orbybuyingthatcompany’sdbtinstrumntsknownas“bonds.”Stocksandbondsartwoofthmostpralntfinancialinstrumntsofthmodrnglobalconomy.Thfinancialprssandtlisiondotsminglyndlsscoragtohadlinntsprtainingtolargpubliccorporations.Publiccompanisarthoswithscuritisthatarradilyaailablforpurchassalthroughorganizdstockmarkts.Manymorcompanisarpriat,maningthirstockanddbtisinthhandsofanarrowgroupofinstorsandbanks.Ifyouarcontmplatinganinstmntinapublicorpriatntity,thriscrtaininformationyouwilllogicallysktoguidyourdcisionprocss.Whattypsofinformationwillyoudsir?Whatdoyouwanttoknowaboutthcompanisinwhichyouarconsidringaninstmnt?Ifyouwrtoprparalistofqustionsforthcompany’smanagmnt,whatsubjctswouldbincludd?Whthrthischallngisposdtoasophisticatdinstorortoanwbusinssstudnt,thlistingalmostalwaysincludsthsambasiccomponnts.Whatarthcorporatassts?Whrdosthcompanyoprat?Whatarthkyproducts?Howmuchincomisbinggnratd?Dosthcompanypaydiidnds?Whatisth