16 Questions
What is comprehensive income defined as?
The change in equity of a company from non-owner sources
What is included in total comprehensive income?
Both net income and OCI
Which financial statement item is Other Comprehensive Income (OCI)?
Equity item
What does the Financial Statement Analysis Framework include?
Balance Sheet, Income Statement, Cash Flow Statement, and MD&A
Which financial document includes discussions on the company's performance, financial condition, and future prospects?
Management’s Discussion and Analysis (MD&A)
What is excluded from comprehensive income calculations?
Investments by owners
Which financial statement provides a detailed summary of all the cash inflows and outflows during a period?
Cash Flow Statement
Under which category are cash flows related to the company's day-to-day activities, such as cash inflows from cash sales and cash payments for inventory?
Operating activities
Which item is included in the components of shareholders' equity?
Changes in the funded status of postretirement plans
Which type of income statement provides accrual-based information?
Income Statement
What does the Cash Flow Statement help assess?
Future cash flows
Which category includes cash flows related to purchasing and selling investments?
Investing activities
What is an essential measure of profitability according to the provided text?
Net income
What is ultimately responsible for repaying loans, replacing equipment, and paying dividends according to the text?
Cash flow
Where do unrealized gains or losses on investment securities categorised as 'available-for-sale' fall under?
Investing activities
What does the Statement of Changes in Equity report?
Changes in each shareholder’s equity account and total equity for the period
This quiz covers the fundamentals of financial statement analysis and analysis tools, including the reasons for financial statement analysis, its definition, users, decision-making based on analysis, analysis framework, requirements, business activities, basic equations, balance sheet, income statement, and earnings per share (EPS).
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