2019 - Critical Concepts to Understand the Balance Sheet, Income Statement, Cash Flow and Retained Earnings

Balance sheet
Explore the components of assets, liabilities and equity and varying formats of presentation
Identify what “Balancing” the balance sheet means
Discover the relationship to Income statement components
Income statement
Identify what comprises revenue
Explore varying types of income statements
Identify expenditures
Recognize Net Income/Loss and flow through to balance sheet
Statement of Cash Flows – The King!
Explore why the cash flow statement is King
Discover what the cash flow statement tells the company
Recognize how the cash flow statement links to the balance sheet and income statements