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Chapter 3 Financial Statements.

Published byLeslie Warner Modified over 6 years ago

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Presentation on theme: "Chapter 3 Financial Statements."— Presentation transcript:

1 Chapter 3 Financial Statements

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

3 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

4 Cash Mgt and Budgeting

5 Personal net worth

6 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)

7

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