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Financial Statements

Description

Mind Map on Financial Statements, created by Charlemagne on 07/12/2014.
Charlemagne
Mind Map by Charlemagne, updated more than 1 year ago
Charlemagne
Created by Charlemagne about 10 years ago
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Resource summary

Financial Statements
  1. Financial Position: Balance sheet
    1. Assets/Liabilities/Shareholders' equity
      1. Assets
        1. Liabilities
          1. Payable/Unearned Revenue
          2. Cash/Trade Receivables/Prepaymetns/etc...
          3. Equity
            1. Share Capital/Retained Earnings
          4. Assets = Liabilities + Shareholders' Equity
            1. Statement of Financial Position
            2. Income Statement
              1. Revenues less expenses in accounting period
                1. Typical Accounts
                  1. Revenues: Sales, Fee, Interest Rent
                    1. Expenses: Wages, rent, interest, etc...
                  2. Profit Added to -
                  3. Statement of Retained earnings
                    1. Accumulation of profits not yet distributed
                      1. Retained Earnings from Previous Year
                        1. Plus: Yearly Profits
                          1. Less: Dividents
                            1. +/- Other changes
                              1. Ending Retained Earnings
                                1. Retained Earnings
                        2. Ending retained earnings -
                        3. Cash Flow Statements
                          1. Inflows and outflows of cash in operating, investing, and financing
                            1. ENDING CASH BALANCE: Into balance sheet
                            2. Closing the books
                              1. Closed (temporary
                                1. All Revenue Accounts
                                  1. All Expense Accounts
                                    1. Dviidends
                                2. Permanent (Open)
                                  1. Assets/Liabilities Accounts
                                    1. Equity
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