ch2-lect - Chapter 2 - Financial Statements Introduction...

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Chapter 2 - Financial Statements Introduction This week we’ll begin by building a basic set of financial statements and use some features in Excel that will enhance presentation. While many accounting packages generate financial statements, often financial managers export the financials to Excel for further manipulation. For this reason it’s important to know the proper presentation of financial statements and how to use features in Excel to build them. We’ll begin by reviewing the basic financial statements. The Basic Financial Statements The Balance Sheet ± The balance sheet provides a summary of the financial position of a company at a particular date. ± It lists a company’s assets, liabilities, and owners’ equity. ± For a corporation, owners’ equity consists of directly invested funds as well as retained earnings. ± A classified balance sheet facilitates, by showing the composition of assets and
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ch2-lect - Chapter 2 - Financial Statements Introduction...

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