Financial reporting

What is the statement of financial positon (Balance sheet)?
The current wealth of the business from point to point
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What is the income statement?
How much wealth was generated in a given period
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What is the cash flow statement
A record of cash movements that have taken place during a period
3 of 5
Assets =
Liabiliaties + equity
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What is a non-current asset
Something which is not easy to liqidute ie) equipment/land
5 of 5

Other cards in this set

Card 2

Front

What is the income statement?

Back

How much wealth was generated in a given period

Card 3

Front

What is the cash flow statement

Back

Preview of the front of card 3

Card 4

Front

Assets =

Back

Preview of the front of card 4

Card 5

Front

What is a non-current asset

Back

Preview of the front of card 5

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