Income Statement And Balance Sheet - Article Example

Free

Extract of sample
Income Statement And Balance Sheet

Furthermore, the amount of goods and services sold by an organization are even clearly exhibited in both the financial statements. The sales revenue figure of the income statement and the amount of cash at hand as well as the accounts receivable heading depict the amount of goods and services sold by an organization. These headings in the income statement as well as the balance sheet help in answering the question of how well a company performed. The answer to the question of what an organization has to pay or what the organization owns in shape of assets is depicted in the income statement’s heading of cost of goods sold and in the balance sheet’s headings of inventory as well as accounts payable. This is because as the inventory of an organization decreases, the cost of goods sold will increase and increase in cost of goods sold will even be depicted through the accounts payable entry of the balance sheet. ...Show more

Summary

These financial statement provides insight regarding how well did an organization perform in a particular period or accounting cycle and the assets as well as the liabilities that a particular company owes or has ownership off. …
Author : elveraconn
Income Statement And Balance Sheet essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the article on your topic
"Income Statement And Balance Sheet"
with a personal 20% discount.
Grab the best paper

Related Essays

Broome County CAFR
The paper tells that financial analysis is a systematic process for assessment of stability, viability and profitability of any business. The analysis is derived from the published financial statements of business organization. The most popular tool for financial analysis is derivation of financial ratios from balance sheet and income statements.
4 pages (1000 words) Article
Using foreign financial statements
This ranges from doing nothing (in which case the financial statements might be in non-English language with figures shown in local currency and might not follow Generally Accepted Accounting Principles - GAAP, or International Financial Reporting Standards - IFRS) to a completely new set of statements, explicitly prepared for United States.
3 pages (750 words) Article
Spread Sheet Modelling
The writer states in the paper that unlike the Business Plan, which tends to be a very short document, the Strategic Plan is likely to be much more substantial and detailed. The Strategic planning process today, which is a virtual necessity, is made easier with the many current spreadsheet programs available.
5 pages (1250 words) Article
Accounting Principal
ntemporary financial world, vis-à-vis, the skills’ requirements to read financial statements of foreign companies and extracting information of interest from these financials. The article presents some techniques that organizations usually employ when their financial
3 pages (750 words) Article
What is the relationship between the median household income and student scores
The positive effect of median household income on student scores is bet supported by the 2010 U.S. Census data. According to the 2010 US Census data, the region with the highest median household income is the Gull lake
1 pages (250 words) Article
Chinese income
porations in the United States currently choose to outsource low-cost labor because they can make a greater profit overseas, where the average wage is significantly less. Lately China has been an attractive place to outsource because of the low wages on offer and vast labor
1 pages (250 words) Article
Reading Assingment and Answer the Questions
For instance, allowing insolvent banks meet the floor capital requirements. Moreover, banks were allowed to take goodwill to be an asset hence increasing the net worth of a bank. Banks which failed were also permitted to operate. How do deregulation of
2 pages (500 words) Article
Budget Support to SME for Malaysian budget 2013
It is often explained by the industry experts that SMEs operate as one of the most promising sources of employment and national income which must be considered when planning for future economic operations such as budgeting. SMEs are differentiated from other
16 pages (4000 words) Article
Business Plan for a food truck
Our marketing strategies include intensive marketing and research which will mainly through the internet and other media. We intend to meet our customers’ needs by delivering our products to them directly. This is encouraged by the rising numbers of fast
7 pages (1750 words) Article
Applicant Statement of Purpose: Goals and Qualifications
I am Chinese and the experience that I have gathered at home concerning the growth of the nation over the last decade has instigated my desire to indulge in finance and gather more knowledge of the ramifications that influence the economic growth of countries especially
3 pages (750 words) Article
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT