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Summary finance
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Good summary of the Finance exam at Breda University of Applied Sciences.
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Finance summary examNotes from the lectures:
Gross operating profit (GOP)= revenue – costs of sales
Not all departments have costs of sales what it costs (the things you need to buy)
The income statement:
Tells you (the entrepreneur/ ondernemer)
- Sales volume
- Expenses (salaries, costs of sales, electricity, etc.)
- Profitability
- Relationship revenues and expenses
Who would like to know?
- (potential) stakeholders
- Accountability management
- Tax agencies (IRS and such) = belastingsdiensten
- Divided decision
Income statement: how successful has it been in a certain time.
A budget is a financial plan
FTE= furniture fixtures equipment
Line of credit= that you can go in red at a bank account
Balance sheet:
Current maturities of long terms: the first 12 transactions to the bank, when you need to pay
the bank back.
Bonds: Tesla f.e. borrowed money from someone, this is a bond with a contract.
There are always more assets (=middelen) than equity (= eigen vermogen)
Retained earnings= the valid of a hotel will grow. Profit that a company had made but not
‘givin’ out yet.
, Driehoekje = assets
O met een/ erdoor= Liabilities
Assets (own)
Current assets no longer than a year Current liabilities no longer than a year
- Cash - Accounts payable
- Bank - Advance deposits (=voorschot
stortingen)
- Short term investments - Line of credit (=kredietlijn)
- Accounts receivable - Current maturities (looptijden)
of long-term debt
- Inventory
- Prepaid expenses
Non- current (fixed) assets Non- current (long-term) liabilities
Use it more than a year Use it more than a year
- Land - Mortgages (=hypotheken)
- Buildings - Bonds and other long-term loans
(lening)
- furniture Total: 70
- Goodwill Owners’ equity
- Pre-opening costs - Common stocks/ shares (veel
voorkomende aandelen)
- China, glassware, linen, - Retained earnings
uniforms, etc
Total: 100 Total: 30
Read:
Chapter 1 page 4
Chapter 2 page 20
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