How To Prepare Financial Statement Practically | Accounts up to Finalisation (lecture 9)
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- Опубликовано: 8 сен 2024
- How To Prepare Financial Statement
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Institute of Business Applications (IBA) is leading institute that provides practical Training (Online & Classroom) in Accounts up to finalization, Finance (Financial Analysis to Financial Modelling & Valuation), Taxation (GST, Income Tax, TDS, Custom duty, Payroll Compliance), Audit (Tax Audit, Company's Audit), SAP ERP, (SAP FICO), VBA excel macros and many more.
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Financial statements are like the DNA of a business - they hold the code to its financial health. In simple terms, they're reports that showcase the financial performance and position of a company. Think of them as a financial GPS guiding you through the business landscape.
There are three amigos in the financial statement world: the Income Statement, the Balance Sheet, and the Cash Flow Statement. Each has its own role in painting the complete picture of a business's financial story.
Income Statement: The Showman
If a business were a movie, the Income Statement would be the showman on the stage. It reveals the revenue, expenses, and profit or loss over a specific period. It's the tale of how the business performed in the spotlight.
Balance Sheet: The Financial Portrait
Think of the Balance Sheet as a snapshot of a business's financial position at a specific point in time. It balances assets (what the company owns) against liabilities (what it owes) to give a clear picture of net worth. It's the financial portrait hanging on the wall.
Cash Flow Statement: The Cash Detective
While profit is essential, cash is king. The Cash Flow Statement is the detective uncovering the ins and outs of cash - where it's coming from and where it's going. It ensures a business has the liquidity to meet its obligations.
Why Financial Statements Matter
Ever wondered how business leaders make strategic decisions? Enter financial statements. They're the crystal ball that provides insights into revenue, expenses, assets, and liabilities. With this information, decisions become not just guesses but calculated moves.
Whether you're a shareholder, investor, or just a curious onlooker, financial statements offer a transparent view of a company's financial health. It's like peeking under the hood of a car before deciding to take it for a spin.
In the vast sea of business complexities, financial statements act as your trusty GPS, guiding you through the financial landscape. They're not just reports; they're the keys to informed decision-making and a deeper understanding of a business's financial journey.
And there you have it, financial navigators! Financial statements might seem like a maze, but they're your compass in the business world. So, whether you're a business owner, investor, or just a finance enthusiast, embrace the financial statement journey. It's the key to unlocking the mysteries of business finances. Happy exploring!
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Excellent sir still i have wathed all the videos of you thank you sir
Amazing Explanation Sir, Thanq for your Effort on these videos. Kindly upload next sessions Sir 🙏
Sir we waiting for next video plese upload its more exciting and great learning platform for us please request you uplode another video more helpful for us
sir, beautifully narrated and explained point to point every aspect of Finalisation of Accounts , we request you to share the excel worksheet for proprietor firms & partnership firms pls 🙏 jai jinendra 🙏
Completely new way of working..sir.. thank you very much🙏
Thank you for the kind words.
Hi Sir
Please Make a Video of all about Provisional Balance Sheet with theoretical and Practical
Thanks Sir
Sir
You are doing great work.
Thank you for the kind words.
Upload rest of the course it will be more beneficial financially as not much people will go to purchase the course, you could earn more from RUclips mobilization. Compare and analyze.
sir please upload new session ... waiting for new session
sir can you please share this working sheet for practice
Ye format Hamein Mil Sakta he
If paid services you provide then pls let us know proff fees for the entire work from TB TO BS , P&L