This provides information on how to record financial statements e.g. income statements ( comprehensive income) , balanced sheet (statement of financial position) and changes in owners equity and more is given Check and follow me for more info on Financial accounting
OUTCOMES To be able to explain the purpose and
FOR importance of the various financial statements.
TODAY’S
WEBINAR To be able to prepare a Statement of
Comprehensive Income from stated transaction
To be able to prepare a Statement of Financial
Position from stated transactions.
To be able to prepare a Statement of Changes
equity from stated transactions.
, INTRODUCTION TO FINANCIAL ACCOUNTING
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UNIT 3: INTRODUCTION TO FINA
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STATEMENTS
2
PURPOSE
AND
Statement of Comprehensive Income:
IMPORTANCE Profit/Loss; Efficiency of operations
OF THE
VARIOUS
FINANCIAL Statement of Financial Position: Calculate
STATEMENTS assets, equity and liabilities; Financial
position
Statement of Changes in Equity: Review
changes to owner’s interest; Review owner
interest.
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