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Accounting Factsheet

This document provides an overview of the key financial statements used in accounting: the opening and closing balance sheets, income statement, and cash flow statement. The balance sheet lists assets, liabilities, and shareholders' equity on the opening and closing dates. The income statement tracks revenue, expenses, and net income over a period. The cash flow statement reconciles the net income figure to the actual change in cash and cash equivalents during the period by accounting for non-cash items and cash movements between operating, investing, and financing activities.

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Stanley Ikenna
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50 views

Accounting Factsheet

This document provides an overview of the key financial statements used in accounting: the opening and closing balance sheets, income statement, and cash flow statement. The balance sheet lists assets, liabilities, and shareholders' equity on the opening and closing dates. The income statement tracks revenue, expenses, and net income over a period. The cash flow statement reconciles the net income figure to the actual change in cash and cash equivalents during the period by accounting for non-cash items and cash movements between operating, investing, and financing activities.

Uploaded by

Stanley Ikenna
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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CFI

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Accounting Factsheet

OPENING BALANCE SHEET INCOME STATEMENT CASH FLOW STATEMENT CLOSING BALANCE SHEET

Assets Revenue Operating profit Assets


+ Cash & cash equivalents - Cost of sales + Depreciation/Amortization + Cash & cash equivalents
+ Inventory = Gross profit + Other non-cash charges + Inventory
+ Accounts receivable - Increase in inventory + Accounts receivable
- SG&A expenses
+ Plant, property & equipment - Increase in a/c receivable + Plant, property & equipment
+ Other income
+ Intangible assets + Increase in a/c payable + Intangible assets
- Other expenses
+ Others = Operating cash flow + Others
= Total assets (A) = Earnings before interest & taxes = Total assets (A)
- Net interest paid
+ Interest income
- Tax paid
Liabilities - Interest expenses Liabilities (B)
= Net operating cash flow
+ Accounts payable + Accounts payable
= Earnings before taxes - Capital expenditure
+ Short-term debt + Short-term debt
- Tax - Dividends
+ Long-term debt + Long-term debt
= Net income ± Change in equity
+ Others + Others
- Dividends ± Change in debt
= Total liabilities (B) = Total liabilities
= Change in cash & cash equiv.
Shareholders’ equity (C) [A=B+C) = Retained earnings Shareholders’ equity (C) [A=B+C]

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