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FINANCIAL STATEMENTS

This session covers financial statements which include the income statement, balance sheet, and the statement of cost of goods manufactured. You will see examples of a report form balance sheet, account form balance sheet, classified balance sheet, as well as a single step income statement and a multi step income statement. See the subjects covered in this session, below:

• Balance Sheet

Gives examples of several types of balance sheets, for the three types of businesses.

• Income Statement

Gives examples of several types of income statements, for the three types of businesses.

• Other Statements

Explains how to prepare other statements such as the Cost of Goods Manufactured, Statement of Accounts Receivable and Statement of Accounts Payable.