FABM SUCKS

What does the Statement of Cash Flows provide information about?

• Steps in creating an Income Statement

• Gives information about the sources and how cash is used during the accounting period.

• Elements of Cash Flows

• Financial Ratio Analysis

Which activity in the Cash Flows involves transactions that affect income and expense?

• Cash Inflows

• Financing Activities

• Investing Activities

• Operating Activities

Which activity in the Cash Flows involves acquisition and disposal of long-term assets?

• Investing Activities

• Cash Outflows

• Operating Activities

• Financing Activities

Composed of specific principles, bases, rules, and practices that are adopted by a business in the preparation of its financial statements

• Financial Position

• Accounting Policies

• Financial Statements

• Worksheet

business transaction

• INPUT

• PROCESS

• OUTPUT

analyzing, recording, classifying, and summariziNG

• INPUT

• PROCESS

• OUTPUT

Income Statement, Balance Sheet, Cash Flows, Statement Interpretations

• OUTPUT

• INPUT

• PROCESS

Contains a listing of all account titles from the general ledger with their debit and credit balances.

◈ There may be adjustments made and is posted in the adjustment columns.

◈ These adjustments are then extended to the income statement and balance sheet.

◈ The difference between the debit and credit total of the income statement is either the net income (+ difference) or net loss (- difference).

• Accounting Policy

• The Worksheet

• Accounting Policies

• Accounting Process

Written records that convey the business activities and the financial performance of a company.

◈ Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes

• Financial Statements

• The worksheet

• Financial Position

• Statement of Profit or Loss and Other Comprehensive Income

◈Called balance sheet or statement of condition.

• Statement of Profit or Loss and Other Comprehensive Income

• Statement of Changes in Equity

• Statement of Cash Flows

• Statement of Financial Position