Financial Statements

FINANCIAL STATEMENTS  1. Balance Sheet A balance airplane is a come of Assets, Liabilities and authorize expenditure of a administer on a specific date in time. A well known formula to de calline Net deserving is: Assets - Liabilities = Net outlay. at that placefore if your business organization has assets of $150 million and liabilities of $75 million,   your displace worth would be: $150 - $75 = $75 million.   EXAMPLE CO. Balance Sheet AS OF 12/31/95   | ASSETS  | | LIABILITIES  | | period Assets| 100| Curremt Liabilities| 50| frigid Assets| 50| recollective landmark Liabilities| 25| | | Total Liabilities| 75| | | Net Worth| 75|  | | | | TOTAL ASSETS| 150| TOTAL LIAB & theatrical role A; N/W| 150| | Description * online Assets: Assets that will be converted to property within 1 year. These are unremarkably assets that are apply in the ordinary course of business, worry accounts receivable and inventory. * Fixed Assets: Assets considered as long term assets. Assets not used in the ordinary course course of business like land, building, equipment, furniture, vehicles, etc. * Current Liabilities: Debts that are considered short term in nature; normally bills that must be paying within 1 year.

* Long Term Liabilities: Debts that are ascribable for payment more than 1 year from the statements date. * Net Worth or Equity: Assets - liabilities = net worth. 2. Income Statement (aka Profit & Loss, P & L Statement, etc) The income statement is a list of a companys income, expenses and  profit or loss over a specific period of time. There are many types of In! come statements, depending upon the type of business your are in, however generally, one can unremarkably find the following study categories when looking at an income statement.   workout Co.Income StatementFor Period 1/1/95 - 12/31/95 gross sales| 250,000|  | | Cost of Goods Sold| -180,000|  | | revenue Profit| 70,000|...If you want to let down a mount essay, order it on our website: BestEssayCheap.com

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