Financial Statements XACC/290 January 12‚ 2014 Melissa Drayton Financial Statements There are four basic financial statements: balance sheet‚ income statement‚ retained earnings statement‚ and statement of cash flows. These financial statements would include an overview of the assets‚ liabilities‚ expenses‚ and revenues of the business. Financial statements are useful not only to internal user; such as managers and employees‚ but also to external users; such as investors and creditors to
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Financial Statements Financial statements are records of relative financial information of organizations that are highly valuable to both internal and external users of that organization. The following four basic financial statements constitute the foundation of accounting: * Balance sheet * Income statement * Retained earnings statement * Statement of cash flows Purpose of the Financial Statements The balance sheet shows a clear picture of the organization’s financial
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Financial Statement Companies use several tools such as a balance sheet to make sound business decisions. A balance sheet is a quantitative summary of a company ’s financial condition at a specific point in time‚ including assets‚ liabilities and net worth. The first part of a balance sheet shows all the productive assets a company owns‚ and the second part shows all the financing methods (such as liabilities and shareholders ’ equity) Also‚ called statement of condition.
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(Name of the Corporation) Notes to Financial Statements For the year ended (Date) ------------------------------------------------- 1. CORPORATE INFORMATION (This portion will depend on the nature of the business) (Corporation’s Name) is a duly registered non stock corporation under registration number (Registration Number) and its principal office is located at (Address). The amended articles of incorporation were approved on (Date of Approval) and the expiration is on (Date of Expiration)
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was “Financial Statements.” There are four financial statements to work with; Balance Sheets‚ Income Statements‚ Retained Earnings Statements‚ and Statement of Cash Flows. Balance sheets let you have a quick review of what assets‚ liabilities‚ and equity were distributed within the accounting period. Income statements show the business whether they made a profit or not. Retained earnings statement shows what the company decides to retain for them‚ after everything else is paid. The statement of cash
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FINANCIAL STATEMENTS | Analyzing and Interpreting Financial Statements | | This paper will demonstrate my understanding of financial accounting and why generally accepted accounting principles (GAAP) are important. I will discuss how financial statements are used in the marketplace. I will describe each financial statement and tell what it reveals about the business. I will explain how the statements are linked and show examples. I will explain the notes to the financial statements. I will
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presented to the Faculty of College of Business and Administration Montessori Professional College – Imus Branch Imus City‚ Cavite In Partial Fulfillment of the Requirements of the Degree Bachelor of Science in Business Administration major in Financial Management Adaya‚ Trysha A. Asilum‚ Rudylyn Cafuir‚ Shella Marie E. Nones‚ Abegail O. Sanone‚ Maria Sarah Vergara‚ Pamela O. AUGUST 2013 APPROVAL SHEET This feasibility study‚ “Chill & Lux’s Restobar‚” prepared and submitted by Adaya‚ Trysha
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Business Management. Prepared under the supervision of Mr. Sarge Millen Pilpil. INTRODUCTION Ampalaya‚ also known as bitter melon‚ is a crawling vine that grows well in tropical countries‚ particularly in the Philippines. The term ampalaya refers to both the plant and its fruit‚ which is elongated‚ green and has a rough and rumpled skin. Known for its bitter taste‚ the ampalaya is at once a staple ingredient in Filipino and Asian cuisine and a reliable home remedy for various illnesses‚ particularly
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Financial Statements Afaga Palasi May 17‚ 2015 Principals of Accounting I Donna Adams Financial statement is a more of a common term used to refer to procedures at the end of the accounting periods; such as the income statement‚ balance sheet‚ cash flow statement and the statement of owner’s equity. These four financial statements area sometimes known as the financial accounts in which the business prepares. To make decision for investing in certain business we need to have a proper view of each
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QUESTION 1 i. Current Ratio = Current Assets/Current Liability = $ 14‚651‚000/$ 19‚639‚000 = 0.750 ii. Quick Ratio = (Current Assets – Inventory) / Current Liability = ($ 14‚651‚000 – $ 6‚136‚000) / $ 19‚539‚000 = 0.436 iii. Total Assets Turnover = Sales/Total Assets = $ 167‚310‚000/$ 108‚615‚000 = 1.540 iv. Inventory Turnover = COGS/Inventory = $ 117‚910‚000/$ 6‚136‚000 = 19.216 v. Receivable Turnover = Sales/Account Receivables = $ 167‚310‚000/$ 5‚473
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