Financial planning, Детальна інформація

A balance sheet (or statement of financial position), is a summary of a firm's assets, liabilities, and owners' equity accounts at a particular time, showing the various money amounts that enter into the accounting equation. The balance sheet must demonstrate that the accounting equation does indeed balance. That is, it must show that the firm's assets are equal to its liabilities plus its owners' equity. The balance sheet is prepared at least once a year. Most firms also have balance sheets prepared semi- annually, quarterly, or monthly.

4. AN INCOME STATEMENT

An income statement is a summary of a firm's revenues and expenses during a specified accounting period. The income statement is sometimes called the statement of income and expenses. It may be prepared monthly, quarterly, semiannually, or annually. An income statement covering the previous year must be included in a corporation's annual report to its stockholders.

5. THE IMPORTANCE OF THE ABOVE TWO STATEMENTS

The information contained in these two financial statements becomes more important when it is compared with corresponding information for previous years, for competitors, and for the industry in which the firm operates. A number of financial ratios can also be computed from this information.

These ratios provide a picture of the firm's profitability, its short-term financial position, its activity in the area of accounts receivables and inventory, and its long-term debt financing. Like the information on the firm's financial statements, the ratios can and should be compared with those of past accounting periods, those of competitors, and those representing the average of the industry as a whole.

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Exercises

Accounting; bookkeeping; accounting information; lender; stock; stockholder; financial statement; balance sheet; income statement; assets; liabilities; owners' equity; bond; debt; annual report; profitability; accounting period; return on investment; soun\x6E64\x7365\x2073\x666F\x6920\x766E\x7365\x6D74\x6E65\x3B74\x6920\x7373\x6575\x6F20\x2066\x7473\x636F\x736B\x6120\x646E\x6220\x6E6F\x7364\x203B\x6572\x6576\x756E\x3B65\x7020\x6F72\x6966\x3B74\x6120\x6363\x756F\x746E\x7220\x6365\x6965\x6176\x6C62\x3B65\x7420\x6172\x736E\x6361\x6974\x6E6F\x203B\x6D61\x756F\x746E\x203B\x776F\x3B6E\x6F20\x6E77\x7265\x203B\x6572\x616C\x2079\x6E6F\x203B\x6572\x6F70\x7472\x203B\x6F62\x7272\x776F\x203B\x6564\x6C61\x7720\x7469\x3B68\x6320\x6E6F\x6966\x6D72\x203B\x7061\x7270\x766F\x3B65\x7020\x6F72\x6976\x6564\x203B\x6F63\x706D\x7261\x2E65\x490D\x2E49\x4620\x6E69\x2064\x6874\x2065\x6E45\x6C67\x7369\x2068\x7165\x6975\x6176\x656C\x746E\x2E73

Бухгалтерский учет (бухучет); точная и своевременная информация; акционер;кредитор; ведомство (агентство); отчет

(доклад); балансовый отчет; отчет о доходах; отчетный период; счетоводство

(бухгалтерия); финансовая информация; прибыль (доход); выгода (прибыль); прибыль на инвестированный капитал; дебиторская задолженность; обязательство; денежное обязательство (пассив); платежная ведомость; акция

(ценная бумага); активы; долг; счет прибылей (иубытков); ежегодный отчет; доходность; собственный акционерный капитал; одобрять; сравнивать; подтверждать; занимать (брать взаймы); обрабатывать (информацию).

III. Fill in the blanks.

1. Managers, lenders, suppliers and government agencies relay on the information contained in two ....

2. These two reports — the balance sheet and ... — are summaries of a firm's activities during a specific time period.

3. The basis for the accounting process is ....

4. Assets are the ... that a firm owns.

5. Liabilities are the firm's debts and ....

6. Owners' equity is the difference between a firm's ... and its liabilities.

7. A balance sheet is ... of a firm's assets, liabilities, and owners' equity accounts at a particular time.

8. A balance sheet must demonstrate that the accounting ... does indeed balance.

9. An income statement is a summary of a firm's revenues and

... during a specific accounting period. >

10. The information in these two financial statements becomes