A guide to Understanding Business Financial Statements

Description: Part 1 – A guide to understanding the financial statements of companies. This workbook is not designed to be your only guide to understanding financial statements ….

More PDF Content

UNDERSTANDING FINANCIAL STATEMENTS: WHAT DO THEY SAY ABOUT YOUR BUSINESS?
Do you want to be in financial control of your business?
Do you want to know how your books work?
Do you want to understand what your accountant tells you?
Do you want to know where to find answers in your financial statements?
A guide to understanding business financial statements
THE FOUNDATION – SOURCE DOCUMENTS AND A FILING SYSTEM
THE INPUT LIST – TRANSACTION JOURNALS
THE CATEGORY LIST – GENERAL LEDGER
THE MANAGEMENT REPORT – FINANCIAL STATEMENTS
The Foundation – Source Documents and a Filing System
Sales invoices or tickets
Deposit tickets
Paid bills
Bank statements
Canceled checks
Employee earnings records
Monthly, quarterly and annual payroll reports
Monthly sales tax reports (if applicable)
Detailed accounts receivable and accounts payable lists
Special Discussion – Bank Reconciliation
The Input List – Transaction Journals
Assets
Liabilities
Capital (Owner’s Equity)
Income
Cost of Sales (for a business that sells a product)
Operating Expenses
Other Income (Expenses)
The Management Report – Financial Statements
The Secret of Understanding Financial Statements

Download A guide to Understanding Business Financial Statements pdf from uwadmnweb.uwyo.edu, 8 pages, 108.49KB.