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Ch 19: Basic Financial Statements

About This Chapter

Get back to the basics of financial statements with this next step in your review. These engaging video lessons can help make your review more effective and efficient.

Basic Financial Statements - Chapter Summary

In this chapter we'll be reviewing the principles of basic financial statements. You'll learn about income statements, methods of depreciation and other topics. Our professional instructors will teach you about:

  • Balance sheets
  • Income statements
  • Cash flow statements
  • Methods of Depreciation
  • Reporting Depreciation with a balance sheet

Our informative video lessons, led by expert teachers will aid in your review as you prepare for your business exam. Furthermore you can learn at your own pace thanks to our video-player's numerous and convenient video tags allowing you to easily navigate through the lesson. Finally, test your knowledge at the end of each lesson with our self-assessment quizzes.

5 Lessons in Chapter 19: Basic Financial Statements
Test your knowledge with a 30-question chapter practice test
The Balance Sheet: Purpose, Components & Format

1. The Balance Sheet: Purpose, Components & Format

There are four financial reports that make up a group known as the financial statements. We will take a walk with one of those reports - the balance sheet - and learn what it is, what items are included on it and what its role in the group is.

What Is an Income Statement? - Purpose, Components & Format

2. What Is an Income Statement? - Purpose, Components & Format

There are four financial reports that are created during the accounting cycle. These four reports make up what is commonly known as the financial statements. In this lesson, we will focus our attention on the income statement. We will learn what the income statement is, what its role in the financial statements is, and why it is important in accounting.

The Statement of Cash Flows: Purpose, Format & Examples

3. The Statement of Cash Flows: Purpose, Format & Examples

There are four financial reports that are required in financial statements. In this lesson, you will learn about the fourth and final report - the statement of cash flows. You'll learn what the makeup of the statement is, its purpose, and why it is important to users of the financial statements.

Methods of Depreciation

4. Methods of Depreciation

After watching this video lesson, you will understand the differences between the different depreciation methods that are available to you. We will discuss three different methods depending on how you use the equipment that you want to calculate the depreciation for.

Reporting Depreciation on the Balance Sheet

5. Reporting Depreciation on the Balance Sheet

In this video lesson, we talk about how to report depreciation on the balance sheet versus the income statement. Learn why the numbers may be different.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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