Anti Essays offers essay examples to help students with their essay writing.

Sign Up

Financial Statements Essay

Open Document

Below is an essay on "Financial Statements" from Anti Essays, your source for research papers, essays, and term paper examples.

Financial Statements
Chanoa Maestas
XACC / 290
September 28, 2012

          Financial statements are a more common term that is used while referring to statements that are produced for a business at the end of accounting periods. There are four different statements that get produced for a company and they are the balance sheet, income sheet, retained earnings statement, and the statement of cash flow.
            A balance sheet will provide a detail of information about the company’s assets, liabilities and shareholders’ equity (Kimmel, Weygandt & Kieso, 2011). Assets are the things that a company owns that may have value. These things can be sold or used by the company to make products they need or help offer a service that can be sold (Kimmel, Weygandt & Kieso, 2011). Assets can be any type of physical property, but it could also be something like trademarks and patents. The liabilities are the total amounts of money that a company owes to someone else. A company’s liabilities can include many types of obligations, like borrowed money from a bank to launch a new product, rent for use of a building, money owed to suppliers for materials, payroll a company owes to its employees, environmental cleanup costs, or taxes owed to the government. Shareholders’ equity is what a company would also call capital or net worth. This is the money that is left if a company sold and paid off everything (Kimmel, Weygandt & Kieso, 2011). This money would belong to the shareholders, or the owners, of the company.
          The income sheet is a statement that tells a company how much revenue they have brought in over a period time. This statement will also show costs and expenses associated with earnings of that revenue.
          The retained earnings statement is a statement that will show amounts and causes of changes during a time frame. This time frame is the same as the income statement.
            The statement of cash flow is a...

Show More


MLA Citation

"Financial Statements". Anti Essays. 18 Dec. 2018


APA Citation

Financial Statements. Anti Essays. Retrieved December 18, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/Financial-Statements-319375.html

#elektromobilnosc | Die Pest | Scarica APK