INTRODUCTION FINANCIAL ACCOUNTING Bangor University Transfer Abroad Programme Lecture 10 (review Ch. 2 & 4)

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Presentation transcript:

INTRODUCTION FINANCIAL ACCOUNTING Bangor University Transfer Abroad Programme Lecture 10 (review Ch. 2 & 4)

Income Statement (Accrual Basis)

Statement of Stockholders’ Equity

Financial Statements (1) (relationship) Financial Statements consist of: Balance sheet; Income statement; Cash Flow statement; Retained Earnings Statement

Financial Statements (2)

Time Line

Expiration of Unexpired Costs

Expiration of Unearned Revenues

Adjusting Entries

Single Step Income Statement

Multi Step Income Statement