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Summary Knowledge clip - financial statements and annual report (Operational Management) $3.35   Add to cart

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Summary Knowledge clip - financial statements and annual report (Operational Management)

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Summary knowledge clip financial statements and annual report

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  • March 19, 2017
  • 2
  • 2016/2017
  • Summary
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Knowledge clip, financial statements and annual report

Finance is extremely important, because it is about the following questions:
 What are you financial goals?
 Is your venue going in the right direction?
 Forecast and actual results

Financial statements
The main financial statement are:
 The income statement (or profit and loss account)
An overview of the estimate revenues and costs in a certain period, which reveals the
profitability of a company.
 Statement of cash flows
An overview of all the receipts and expenditures that will take place in a period to estimate
your Cash at bank (or Bank overdraft).
There are two methods, the direct and indirect method.
The direct methods is as follows:




The indirect method:




Easy to produce after producing balance sheets and income statement. And gives insight into
where the cash is coming from:
o Operating activities
o Investing activities
o Financing activities

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