Chapter 3 Financial Statements.

Slides:

Advertisements

Similar presentations

Mrs. Wilson Business Essentials. This lesson provides information about money management basics and the reports used to measure financial progress.

Advertisements

Money Management Strategies

C1 - 1 Learning Objectives 1.Nature of a Business 2.The Role of Accounting in Business 3.Business Ethics 4.Profession of Accounting 5.Generally Accepted.

C1 - 1 Learning Objectives 1.Nature of a Business 2.The Role of Accounting in Business 3.Business Ethics 4.Profession of Accounting 5.Generally Accepted.

Making Your Money Work Where Are You Now?. Objectives Determine Credit Obligations Compare Income to Expenses Determine Net Worth.

Measuring Your Financial Health and Making a Plan

AC 113- Unit 3 Chapter 2.

Money Management Strategies

Chapter 12 Summary.  Operations ◦ Income Statement ◦ Changes in Current Assets  Investing ◦ Changes in Long-Term Assets  Financing ◦ Changes in Long-Term.

GAAP PowerPoint #4.  A formal record of the financial activities of a business  Includes four basic financial statements: ◦ Balance Sheet (Statement.

Statement of Cash Flows Chapter Understanding the purpose of a statement of cash flows. Learning Objective 1.

16-1. Money Management Basics $100 probably seems like a lot of money to you now. In the future you will have more expenses Food, housing, insurance,

C H P ERSONAL F INANCIAL S TATEMENTS. Goals: Explain the basics of money management. Create a personal balance sheet. Develop a personal cash flow.

Personal Financial Statements Ch PoB  Money Management – refers to the day-to-day financial activities associated with using limited income.

Money Management Strategy

Stock Market Analysis and Personal Finance Mr. Bernstein Personal Financial Statement, pp February 19, 2015.

Chapter 3 Developing Financial Statements, Plans and Budgets Financial statements are assessments of the current status of one’s personal financial position.

Jeopardy True/False TermsShort/Long Q$100 Q$200 Q$300 Q$400 Q$500 Q$100 Q$200 Q$300 Q$400 Q$500 FinalFinal Jeopardy A or L Q$100 Q$200 Q$300 Q$400 Q$500.

Which one calculates Net Worth?

4 Financial Planning and Forecasting ©2006 Thomson/South-Western.

Section 1Organizing Financial Records Budgeting How do your spending options fit: Day-to-day financial activities necessary to get the most from one’s.

Entrepreneurial Finance, 4th Edition By Adelman and Marks PRENTICE HALL ©2007 by Pearson Education, Inc. Upper Saddle River, NJ Financial Statement.

$$ Entrepreneurial Finance, 4th Edition By Adelman and Marks PRENTICE HALL ©2007 by Pearson Education, Inc. Upper Saddle River, NJ Chapter 3.

Chapter 2 In-Class Notes. Personal Cash Flow Statement Record Your Income Salary, interest income, dividends Record Your Expenses Rent, living expenses,

Financial Puzzle FINANCIAL STATEMENTS By PresenterMedia.com PresenterMedia.com.

Apply procedures for preparing corporate financial statements.

Financial Accounting 1 Lecture – 41 Profit and Loss Account Shows profit earned or loss sustained from the operations of the business during the period.

money you have in a bank either in checking (where you can use the money with an ATM card or by writing a check) or savings (where you earn interest)

Financial Statements, Taxes and Cash Flow1 Financial Statements, Taxes and Cash Flows Financial Statements  Assets Building $190,000 Accumulated Depreciation.

Chapter One Elements of Financial Statements. Market Allocation Customers Investors Creditors Restaurant + + = Stakeholders needing information for decisions.

Entrepreneurial Finance, 4th Edition By Adelman and Marks PRENTICE HALL ©2007 by Pearson Education, Inc. Upper Saddle River, NJ Chapter 3 Financial.

$$ Entrepreneurial Finance, 5th Edition Adelman and Marks Pearson Higher Education ©2010 by Pearson Education, Inc. Upper Saddle River, NJ Chapter.

Chapter 3 Section 3.1 and 3.2.  Money Management  Spend your money on clothes or save it?  Shopping around for better deal on mp3 player?

SPENDING PLAN. Spending Plan  A spending plan is a financial statement you can use to assist in money management  also known as a budget.

$200 $400 $600 $800 $1000 $200 $400 $600 $800 $1000 $200 $400 $600 $800 $1000 $200 $400 $600 $800 $1000 Budget, Yeah I am going to need that I am going.

+ Chapter Vocab and notes + Vocabulary Budget matrix – a chart that shows expenses.

Budgets: Help or Hindrance. Budget Definition: spending plan.

Chapter 5 Reporting Cash Flows. The Statement of Cash Flows Identifies the primary activities that resulted in cash ________ and ________ Reports cash.

Financial Statement Basics BDI3C. Major Financial Statements  Balance Sheet Individual: Net Worth Statement  Income Statement  Cashflow Statement.

money you have in a bank either in checking (where you can use the money with an ATM card or by writing a check) or savings (where you earn interest)

Ch Personal Finance Personal Finance. How much money will the average American earn in their working lifetime? (35 years) How much money will the.

Topic 5: Cash Flow Management

Making a Budget Independent Living October 27, 2015.

Personal Financial Statements Chapter 12 Personal Financial Statements The Balance Sheet.

You in the economy Notes for Chapter 17. Getting paid Salary – fixed payments at regular intervals Salary – fixed payments at regular intervals Wages.

Entrepreneurial Finance, 4th Edition By Adelman and Marks PRENTICE HALL ©2007 by Pearson Education, Inc. Upper Saddle River, NJ Financial Statements.

Standard 1 VOCABULARY.  Career – a purposeful course of action or purpose in life that generally provides income  Earned Income –money received for.

Chapter 3. Finances- assets in the form of money Money- anything you exchange for g&s.

Chapter 8 Budgets and Financial Records. Preparing a Budget Budget = Spending and saving plan Budget = Spending and saving plan Income = Expenses Income.

“I’ve got a great job and no bills. I still live at home

4.04 Statement of Cash Flows

Building Financial Statements

New Venture Development

The Accounting equation

Personal Finance Chapter 4.

Managing YOUR Money! Personal Finance.

Statement of Cash Flows

Accounting and Finance

Section 3.2 Personal Financial Statements

Building Financial Statements

INTEREST RATE SWAP Southwest Savings Association

BUSINESS HIGH SCHOOL-ACCOUNTING I

General Money Management & Personal Savings and Investment

Session Two A Financial Physical

Chapter 24: Budgeting, Saving, and Investing Money

Point 6 Financial Statements

Entrepreneurship, Continued Financial Statements

Building Financial Statements

Chapter 4 Financial Decisions and Planning

Presentation transcript:

Chapter 3 Financial Statements

Statements Personal Financial Statements Sole proprietors and partners Corporations Audited statements Why? How? Independent auditors

Financial Statement (Personal Form) Single bank loan application form which incorporates two individual financial forms: Statement of financial position Cash Cash equivalents Invested assets Use assets Liabilities Net worth Personal cash flow statement Income Fixed expenses Variable expenses http://www.youtube.com/watch?feature=player_detailpage&v=T_8t2yTrCms

Cash Mgt and Budgeting

Personal net worth

Personal Income Statement (Cash Flow Statement) Income—Include all sources Wages, tips, overtime Interest on savings, stock dividends, etc. Fixed expenses Contractual, must be paid Rent, insurance, utilities, car payments, etc. Variable expenses You control level of expenses (food, clothing)