Working capital is the excess of current assets over current liabilities. Current assets are those assets which will generally be converted into cash within one year in the normal course of business. Current liabilities are those liabilities which will generally be paid during the ensuing year. Working capital may be regarded as a reservoir, the level and content of which is constantly being changed by business transactions. The condition of the reservoir at any particular time is shown by a summary of current assets and current liabilities in this article. To show the flow in and out of the reservoir, it calls for another type of statement covering a period of time and showing the sources from which working capital was obtained, and the purposes for which working capital was used. Changes in debits and credits appearing in a worksheet are frequently net amounts. The primary purpose of reclassifying entries is to set out as a separate item on the worksheet each amount making up the net amount. The information needed to prepare such entries is obtained from analyses of the accounts.

Earnings forecasts, Analyst forecast, Time-series model, Multivariate techniques

ABSTRACT: This paper describes a field experiment undertaken to assess effects of televised introductory accounting instruction. The semantic differential was employed in the measurement of students' attitudes toward the accounting profession, accounting as a major, and the accounting lecturer. Attitudes and exam performance of students who received televised instruction were compared with those of students who received instruction by conventional methods. In both cases, instruction was provided within a large group context. No statistically significant differences were found in attitudes toward either majoring in accounting or the lecturer, nor was there a statistically significant difference in exam performance. However, significantly more favorable attitudes toward the accounting profession were associated with those who received televised instruction.

Interim reporting, Predictive ability, Earnings per share, Forecasting content

We present new estimates of home ownership for black and white households from 1870 to 2007. Black ownership increased by 46 percentage points, whereas white ownership increased by 20 points. Remarkably, 25 of the 26 point narrowing occurred between 1870 and 1910. Part of this early convergence is accounted for by falling white ownership due to movement out of agriculture, but most is accounted for by post-emancipation gains among blacks. After 1910, white and black households increased ownership, but the racial gap barely changed. We discuss the influence of residential segregation, public policy, and permanent income on the ownership gap.