[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-571907-105":53,"doc-detail-571907-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","accounting-cheat-sheet-financial-statements","Accounting Cheat Sheet - Financial Statements","","Accounting Cheat Sheet provides a quick reference to core accounting concepts with emphasis on financial statements and related terminology. It outlines the purpose and scope of the balance sheet, income statement, statement of cash flows, and statement of stockholders’ equity, including key terms such as assets, liabilities, owner’s equity, classified current items, revenues, expenses, gains, losses, and profit measures. 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Take a quick tour [by visiting](by visiting www.accountingcoach.com/quicktour)[ www.accountingcoach.com/quicktour](by visiting www.accountingcoach.com/quicktour).  \nFinancial Statements 3  \nBalance Sheet 4  \nIncome Statement 5  \nCash Flow Statement 6  \nStockholders’ Equity 7  \nFinancial Ratios 8  \nAccounting Principles 9  \nBookkeeping, Debits & Credits 10  \nAccounting Equation 11  \nAdjusting Entries 12  \nBank Reconciliation 13  \nPetty Cash 14  \nAccounts Receivable & Bad Debts Expense 15  \nInventory & Cost of Goods Sold 16  \nDepreciation 17  \nAccounts Payable 18  \nCost Behavior & Break-even Point 19  \nPayroll Accounting 20  \nStandard Costing 21  \nAccounting Pronouncements 22  \nOrganizations 23  \n[AccountingCoach.com](AccountingCoach.com)’s Accounting Cheat Sheet is a quick reference and overview of accounting concepts. You should consult a professional accountant and/or the accounting profession’s official pronouncements for specific situations and for more complete information.  \nFor personal use by the original purchaser only. Copyright © AccountingCoach® .com.  \n2  \nFinancial statements are general purpose, external financial statements prepared according to generally accepted accounting principles. Some terms that apply to the financial statements include:  \nbalance sheet reports the amounts of assets, liabilities, and stockholders’ equity at a specified moment, such as midnight of December 31; also known as the statement of financial position.  \nincome statement reports revenues, expenses, gains, losses, and net income during the period of time stated in its heading; also known as the statement of operations and as the profit and loss (P&L) statement.  \nstatement of cash flows reports the changes in cash and cash equivalents during a period of time according to three activities: operating, investing, and financing.  \nstatement of stockholders’ equity reports the changes in the components of stockholders’ equity, including net income, other comprehensive income, dividends, exercise of stock options.  \ninterim financial statements issued between the annual financial statements, e.g. quarterly.  \naudited financial statements independent CPA firm gives assurance about reasonableness and compliance with accounting principles.  \nfinancial reporting includes financial statements, annual and quarterly reports to SEC and stockholders, press releases and other financial reports.  \nNote: To learn more about Financial Statements see our Video Seminar, Visual Tutorial and Exam Questions in AccountingCoach Pro.  \nFor personal use by the original purchaser only. Copyright © AccountingCoach® .com.  \n3  \nThe balance sheet or statement of financial position reports assets, liabilities, owner’s or stockholders’ equity at a point in time. Some terms that apply to balance sheets include:  \nassets resources, things owned, and prepaid or deferred expenses; examples include cash, accounts receivable, inventory, prepaid insurance, land, equipment, vehicles, furnishings.  \nliabilities obligations and deferred revenues; examples include accounts payable, loans payable, wages payable, interest payable, customer deposits, deferred revenues.  \nowner’s equity a sole proprietorship’s assets minus its liabilities.  \nstockholders’ equity a corporation’s assets minus its liabilities; reports paid-in capital, retained earnings, and treasury stock.  \naccounting equation Assets = Liabilities + Stockholders’(Owner’s) Equity.  \nclassified balance sheet groups assets into the following classification: current assets, investments, property, plant and equipment, and other assets. Liabilities are classified as either current or long-term.  \ncurrent asset will turn to cash within one year of the date of the balance sheet (unless the operating cycle is greater than one year) .  \ncurrent liability an obligation that will become due within one year of the balan","cbCairq2qjr46FYv","https://ap.wps.com/l/cbCairq2qjr46FYv","pdf",328047,23,"English","# Financial Statements\n## Balance Sheet\n## Income Statement\n## Cash Flow Statement\n## Stockholders’ Equity\n## Financial Ratios\n## Core Accounting Concepts","[{\"question\":\"What does the balance sheet report, and what are the key categories?\",\"answer\":\"The balance sheet (statement of financial position) reports assets, liabilities, and stockholders’ (owner’s) equity at a point in time. It includes classified categories such as current assets and current liabilities, plus other long-term items and equity components.\"},{\"question\":\"How is net income defined in the income statement?\",\"answer\":\"Net income equals revenues and gains minus expenses and losses over the stated period. The sheet also distinguishes between single-step and multiple-step income statement structures.\"},{\"question\":\"What activities are used to describe cash flow in the statement of cash flows?\",\"answer\":\"The statement of cash flows reports changes in cash and cash equivalents across three activity categories: operating, investing, and financing.\"}]","Accounting Cheat Sheet - Financial Statements | PDF",1791924380,8]