Lecture Financial accounting (8/e) - Chapter 4: Adjustments, financial statements, and the quality of earnings

Lecture Financial accounting (8/e) - Chapter 4: Adjustments, financial statements, and the quality of earnings. After studying this chapter, you should be able to: Explain the purpose of a trial balance; explain the purpose of adjustments and analyze the adjustments necessary at the end of the period to update balance sheet and income statement accounts; present an income statement with earnings per share, statement of stockholders' equity, balance sheet, and statement of cash flows; compute and interpret the net profit margin, explain the closing process.