Chapter 3 - Chapter 3 Financial Statements Tools and...

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Chapter 3 Chapter 3 Financial Statements,  Financial Statements,  Tools, and Budgets Tools, and Budgets
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Financial Planning Financial Planning The process of developing and implementing a coordinated series of financial plans to help achieve financial success.
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3 Components of  Successful  3 Components of  Successful  Planning Planning Specified values Explicitly stated financial goals Consistent financial strategies
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Balance Sheet Balance Sheet or Statement of Net Worth or Statement of Net Worth A financial statement that describes an individual’s or family’s financial condition at a particular time (on one day) showing assets, liabilities, and net worth.
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Balance Sheet Components Balance Sheet Components Assets Monetary Monetary Tangible Tangible Investment Investment Liabilities Short-term Short-term Long-Term Long-Term Net Worth
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Income and Expense  Income and Expense  Statement or Cash Flow  Statement or Cash Flow  Statement
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This note was uploaded on 04/10/2008 for the course CSM 204 taught by Professor Carolinefulmer during the Spring '08 term at Alabama.

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Chapter 3 - Chapter 3 Financial Statements Tools and...

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