PPT-Income Statement and Balance Sheet

Instructor Ryan Williams Learning Objectives 1 Recognize items that belong on an Income Statement 2 Prepare an Income Statement 3 Calculate COGS given information about changes in inventory . Pro Forma Financial Statements. Projected or “future” financial statements.. The idea is to write down a sequence of financial statements that represent expectations of what the results of actions and policies will be on the future financial status of the firm.. Replace with BFRDP logo. Balance Sheet #1. Cash Flow. Financial Snapshot. Financial Snapshot. Meeting Financial . Obligations. Good old fashion recordkeeping. Balance Sheet #2. Working Capital. Debt/Asset Ratio. Business Decisions and Financial Accounting. PowerPoint Authors:. Brandy Mackintosh. Lindsay . Heiser. Learning Objective 1-1. Describe various organizational forms and business decision. makers.. Forecasting the Future Financial Condition of the Firm. Pro Forma Financial Statements. Projected or “future” financial statements.. The idea is to write down a sequence of financial statements that represent expectations of what the results of actions and policies will be on the financial status of the firm into the future.. Business Decisions and Financial Accounting. PowerPoint Authors:. Brandy Mackintosh. Lindsay . Heiser. Learning Objective 1-1. Describe various organizational forms and business decision. makers.. Chapter 8. Fiscal Periods. A “fiscal” period (a/k/a “accounting” period) is the amount of time for which a business reports financial information . A business picks a length . of time – usually a year – and . Agenda. Recap of the Income Statement. What is the Balance Sheet. Assets. Liabilities. Equity. Putting it all together. Case Study. What is an Income Statement. The income statement summarizes the inflows and outflows of money . Robert Parrino, Ph.D.. David S. Kidwell, Ph.D.. Thomas w. bates, . ph.d. .. Chapter 3: Financial Statements, Cash Flows, and Taxes. Learning Objectives. Discuss Generally accepted accounting principles (GAAP) and their importance to the economy.. Chapter 5. Evaluating the capital structure.. Assess risk and future cash flows.. Analyze the company’s: . Liquidity, . Solvency, and . Financial flexibility.. Balance Sheet. Usefulness of the Balance Sheet. Income Statement. ACCOUNTING . January 30, 2014. http://www.youtube.com/watch?v=Z7C4cz2HkeY. Welcome to Chapter 7. . Chapter 7 Covers the preparation of an income statement and a balance sheet for a proprietorship.. on a Work Sheet. Objectives. Define Accounting terms related to a work sheet for a services business organization organized as a proprietorship.. Identify accounting concepts and practices related to a work sheet for a service business organized as a proprietorship.. Worksheet for a Service Business Chapter 6.1 WARM UP In your Textbook, check out page 151 and read the accounting in the Real World section and answer the two Critical Thinking Questions that follow. TheAlso known as a Statement of Financial PositionSourceshttps//nonprofitsassistancefunddocalyticscom/v/balance-sheet-cheat-sheet-2014http//wwwnonprofitfinancefundorg/sites/default/files/22-1christoph INTRODUCTION. The stakeholders of a business are interested in financial progress. The assessment of financial progress is done by estimating the impact of business activities on financial position and...