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Financial Statements

by: Louise Alessandra Laguit

Financial Statements BNAD 100

Marketplace > University of Arizona > BNAD 100 > Financial Statements
Louise Alessandra Laguit
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About this Document

Income statements, balance sheets, and cash flow statements.
Language and Context of Business
Robert Matteucci
Class Notes




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This 3 page Class Notes was uploaded by Louise Alessandra Laguit on Wednesday February 24, 2016. The Class Notes belongs to BNAD 100 at University of Arizona taught by Robert Matteucci in Winter2015. Since its upload, it has received 11 views.


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Date Created: 02/24/16
Wednesday, February 3, 2016 BNAD 100 Financial Statements (Julie Klewer) A company’s financial statements keep track of the company’s financial activities and its financial position. How much profited we make last year? (investors, banks. . .) How much did we spend last month? (budget) How much is the company worth? (liquidation, collateral for loans) How much do we owe to other people? (debts) income statement (over a period of time) How much money did we earn and spend? balance sheet (records at a certain point of time) What do we own? What do we owe? cash flow statement (over a period of time) How much case do we have and how did we get it? Income Statement revenue (sales): the income generated from sale of goods or services associated with the main operations of a company before any expenses are deducted expenses: money spent in an organization’s efforts to generate revenue, representing the cost of doing business net income (net profit): a company’s total profit for a given period of time (monthly, quarterly, yearly) 1 Wednesday, February 3, 2016 cost of foods sold (COGS) the cost of the physical goods the company sold gross profit the profit earned on sales of a product before other expenses; (Revenue - COGS = Gross Profit) operating expenses all other costs incurred to operate the company gross profit margin the percentage of revenue the company retains after subtracting the Cost of Goods Sold (COGS); (Revenue - COGS) / Revenue = Gross Profit Margin Balance Sheet asset: something the company has purchased or acquired and that has money value liability: a company’s debts or obligations incurred during the course of business equity: the portion of the company owned by shareholders The Accounting Equation Assets = Liabilities + Equity Cash Flow Statement cash from operations (running the business) cash from investing (buying/selling assets for the business) cash from financing (borrowing and paying back money, raising money through ownership) 2 Wednesday, February 3, 2016 The Accrual Basis of Accounting companies record revenues and expenses at the time they earn revenues and incur expenses (not when cash is exchanged) 3


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