what are the components of a general purpose financial statements?

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what are the components of a general purpose financial statements?

2007-01-17 11:15:54 · 2 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance

2 answers

1. Income Statement
2. Balance Sheet
3. Cash Flow Statement
4. Reconciliation of Owners' Equity
5. Notes to Financial Statements

2007-01-17 12:48:32 · answer #1 · answered by csanda 6 · 0⤊ 0⤋

Net Worth: Assets minus liabilities. How much are you worth.
Short term assets - money, stocks; anything liquid
Long term assets - real estate, stocks,

Short term liabilities - auto loans, notes payable 1-3 year term
Long term liablities - mortages, notes payable 3+ years

Cash Flow: Inflow of cash verse outflow of cash. Actual cash in the bank.

Budget: Where your money is going

2007-01-17 13:37:14 · answer #2 · answered by upnorthbeachbum 1 · 0⤊ 1⤋