Hrm, company-of-origin, analysis

Certified public accountant (CPA): An individual who has met certain criteria and is thus allowed to perform audits of corporations. (p. 1-17). 

Corporation: A business organized as a separate legal entity owned by stockholders. (p. 1-3). 

Dividends: Payments of cash from a corporation to its stockholders. 

Expenses: The cost of assets consumed or services used in the process of generating revenues. (p. 1-8). 

Income statement: A financial statement that reports a company's revenues and expenses and resulting net income or net loss for a specific period of time. (p. 1-10). 

Liabilities: Amounts owed to creditors in the form of debts and other obligations. (p. 1-7). 

Management discllssion and analysis :A section of the annual report that presents management's vieWb on the company's ability to pay near-term obligations, its ability to fund operations and expansion, and its results of operations. (p. 1-16). 

Net income: The amount by which revenues exceed expenses. (p. 1-9). 

Net loss: The Hmount by which expenses exceed revenues. (p. 1-9). 

Notes to the financial statements: Notes clarify information presented in the financial statements and provide additional detail. (p.I-16). 

Partnership: A business owned by two or more persons associated as partners. (p. 1-3). 

Retained earnings: The amount of net income retained in the corporation. (p. L-ll). 

Retained earnings statement: A financial statement that summarizes the amounts and causes of changes in retained earnings for a specific time period. (p. L-ll). 

Revenue: The increase in assets or decrease in liabilities reSUlting from the sale of goods or the performance of services in the normal course of business. (p. 1-8). 

Sarbanes-Oxley Act (SOX): Regulations passed by Congress to reduceunethical corporate behavior. (p. 1-6). 

Sole proprietorship: A business owned by one person. (p.I-3). 

Statement of cash flows: A financial statement that provides financial information about the cash receipts and cash payments of a business for a specific period of time. (p. 1-12). 

Stockholders' equity: The owners' claim to assets. (p. 1-11).