About This Chapter
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.
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.
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.
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.
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.
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.
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Other chapters within the Business Communications: Help & Review course
- Business Communication Framework
- Spoken & Written Messages
- Preparing Written Messages
- Communicating Electronically
- Delivering Good & Neutral Tone Messages
- Delivering Bad News Messages
- Delivering Persuasive Messages
- Reporting Process & Research Methods of Business Communication
- Managing Data & Using Graphs in Business Communications
- Organizing & Preparing Reports & Proposals
- Designing & Delivering Business Presentations
- Preparing Job Applications
- Management Theory
- Organization in Business Management
- Motivation & Management Theories in Business
- Decision Making & Problem Solving Strategies
- Principles of Change Management
- Control as a Function of Management
- Inventory Cost & Valuation
- Fundamentals of Microeconomics
- Online Privacy & Security
- Understanding Enterprise Business Systems