BIS3589_ch02 - Chapter2 IncomeStatement: BalanceSheet:,liabilitiesand :out

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Chapter 2 The Basic Financial Statement
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3 Basic Financial Statement    Income Statement: summarizes the  performance  of the firm’s  operations  over a period of time.    Balance Sheet: shows the status of assets, liabilities and  equity of the firm at a  specific point in time .      Statement of Cashflows: outlines the cash inflows and cash  outflows of the firm  over a period of time .
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To construct Excel’s workbook     Principle 1: makes Excel do the calculation as much  as possible    Principle 2: arrange the format in the way that is  easy to understand i.e. using border, shading, etc.
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Income Statement  Sales - Cost of Goods Sold = Gross Profit - Selling and G&A Expenses - Fixed Expenses - Depreciation Expense = EBIT - Interest Expense = Earnings Before Taxes - [email protected]% = Net Income
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Balance Sheet  Assets        Cash and Equivalents    Accounts Receivable    Inventory Total Current Assets    Accumulated Depreciation Net Fixed Assets Total Assets
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This note was uploaded on 01/11/2012 for the course FINANCE fin 3701 taught by Professor Tengihla during the Spring '11 term at Assumption College.

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BIS3589_ch02 - Chapter2 IncomeStatement: BalanceSheet:,liabilitiesand :out

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