FINANCIAL DOCUMDEMTS

What is our topic of discussion?

• The pros and Cons of being an accountant

• 3 types and contents of financial documents and their importance to a company

• Present some common corporate ethics

• What are the differences between fair trade and free trade?

True or False: "Financial statements shows a true and fair view of the financial performance of the last financial year and overall financial position at the end of the financial year. "

• True

• False

What do financial statements include?

• Balance sheet

• Income statement

• Cash flow statement

• All three options above

The Balance Sheet has three main heads:

• assets, liabilities, cost

• assets, liabilities, debt

• assets, liabilities, shareholder's equity

The balance sheet is based on the fundamental equation:

• Assets = Liabilities - Equity

• Assets = Liabilities + Equity

• Assets = Liabilities * Equity

• Assets = Liabilities / Equity

If the equity balance at the end of 2017 is 800 million and at the end of 2018 is 900 million, what is the change in equity balance?

• 100 millions

• 1700 millions

• 50 millions

• no change

Which statement is false?

• Property, Plant, and Equipment capture the company’s tangible fixed assets.

• Inventory includes amounts for raw materials, work-in-progress goods, and finished goods.

• Share Capital is the value of funds that shareholders have invested in the company.

• Financial Statements don't accurately reflects the business performance and financial position of the company

PP&E stands for which of the following phrases ?

• Plant, Property, and Equipment

• Price, Property, and Equipment

• Product, Place, Price and Promotion

True or False: “The cash flow statement measures how well a company manages its cash position, meaning how well the company generates cash to pay its debt obligations and fund its operating expenses.”

• True

• False

According to Vietnamese law, does a newly established company or has not yet issued an invoice required to submit a Financial Statement?

• Yes

• No