C H. 16-1 P ERSONAL F INANCIAL S TATEMENTS. Goals: Explain the basics of money management. Create a personal balance sheet. Develop a personal cash flow.

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

Measuring Your Financial Health and Making a Plan

Money Management and Financial Planning

16 Money Management and Financial Planning

1 Chapter 2 – Measuring Financial Health Important parts Construct & interpret financial statements Budgeting Record-keeping Financial planners.

Money Management Strategies

Money Management Strategy: Financial Statements and Budgeting

© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 16 SLIDE Personal Financial Statements Budgeting.

B ASIC F INANCIAL S TATEMENTS Marketing Co-Op. F OUR T YPES OF F INANCIAL S TATEMENTS Balance Sheets Income Statements Cash Flow Statements Statement.

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,

PERSONAL FINANCIAL STATEMENTS Chapter How Much Money Will You Earn in Your Lifetime?  From the U.S. Census Bureau, Current Population Survey, Educational.

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

Investing and Personal Finance

ASSETS, LIABILITIES, AND OWNER’S EQUITY MANAGEMENT INFORMATION SYSTEMS II - FINANCIALS.

Money Management Strategy

QUESTION 1.When constructing a budget, it is helpful to use a personal cash flow statement, which measures a person's __________ and __________. assets;

Unit 2: Measuring Financial Health. Learning Objectives O Define asset, liability, and net worth. O Calculate the level of net worth using a balance sheet.

Money Management Skills

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

Personal Finance Chapter 3 Section 3.1 and 3.2.

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?

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

Statement of Financial Position

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

CHAPTER THREE: MONEY MANAGEMENT & STRATEGY UNIT ONE PLANNING PERSONAL FINANCES “I didn't end up going bankrupt... I made some great investments and I held.

Balance Sheets Analyzing Assets, Liabilities, & Equity.

Financial Decisions and Planning. CHRIS TUCKER DORTHY HAMILL MIKE TYSON NICHOLAS CAGE.

STATEMENT OF FINANCIAL POSITION ADVANCED LEVEL G1 © Take Charge Today –August 2013– Statement of Financial Position – Slide 2 Funded by a grant.

Money Management Chapter 16. Managing Your Money Basic Economic Problem: Limited Resources/Unlimited Wants Net Income/Take-Home Pay: The money you receive.

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)

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?

Accounting 11 Unit 1 – Financial Position and the Balance Sheet.

Chapter  From the U.S. Census Bureau, Current Population Survey, Educational Attainment 2009 data, in a sample of 100 Americans:55 would have some.

$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.

Mr. Stasa – Willoughby-Eastlake City Schools ©

User-Defined Placeholder Text Chapter 3 Money Management Strategy 3.2.

Money Management and Financial Planning

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)

Learning Objective # 3 Develop a personal balance sheet and cash flow statement.

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

The Balance Sheet. What is a Balance Sheet? A financial statement that shows the company’s assets, liabilities, and net worth (also known as equity) on.

BUDGETING (part 2) Mr. Stasa – W-E City Schools © 1.

Chapter 12 Budgeting.

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

Bell Ringer 1/20/16 Make a list of some items you would like to purchase in the next few years Take out homework. We need to go over it.

2-1 Measuring Your Financial Health and Making a Plan.

Assets and Liabilities. Assets- Items you own that have a value Liabilities- Debts you owe Net worth- Value of assets minus liabilities Checking Account.

Statement of Financial Position

Statement of Financial Position

Statement of Financial Position

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

Personal Finance Balance Sheet

Statement of Financial Position

Business and Personal Finance

Chapter 3 Financial Statements.

Section 3.2 Personal Financial Statements

Statement of Financial Position

Statement of Financial Position

Session Two A Financial Physical

Statement of Financial Position

Statement of Financial Position

Point 6 Financial Statements

Statement of Financial Position

Statement of Financial Position

Statement of Financial Position

Statement of Financial Position

Chapter 4 Financial Decisions and Planning

Presentation transcript:

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 statement. Key Terms: -Money Management -Personal assets -Net worth -Cash flow statement

M ONEY M ANAGEMENT B ASICS Money management refers to the day-to-day financial activities associated with using limited income to satisfy your unlimited needs and wants. The process of good money management should start with knowing your current financial status.

P ERSONAL B ALANCE S HEET A balance sheet is a record of assets and liabilities at a point in time. It reports what a family owns as well as owes. Assets: items of value are personal assets. Assets include such things as money in bank accounts, investments, furniture, clothing, automobiles, jewelry, and rare coins. The current value of all assets of an individual or family is the first thing stated on a balance sheet.

Liabilities: amounts owed to others. Theses debts may include credit card balances, car loans, a home mortgage, or personal loans. A listing of your liabilities is the second item on a balance sheet. Net Worth: the difference between a person’s assets and liabilities.

P ERSONAL C ASH F LOW S TATEMENT A balance sheet reports assets, liabilities, and net worth on a given date. Cash Flow Statement: reports net wages and other income along with spending for a period, such as for a month.

Cash Inflows: The first part of a cash flow statement. The money you have available to spend as a result of working or from other income, such as interest earned on your savings. Cash Outflows: The second part of a cash flow statement. Amounts spent for food, clothing, transportation, and other living costs.

16-1 A SSESSMENT 1. Savings accounts and a home are examples of? A. Liabilities B. Assets C. Net worth D. Cash Outflow 2. A payment for rent represents? A. A cash inflow B. A cash outflow C. A liability D. An asset