Balance sheet versus income statement
[DOC File]BUS 302L Accounting Review Topics 1 - 5
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Prepare an income statement, a retained earnings statement, and a balance sheet using this information. Solution. CSU CORPORATION. Income Statement. For the Year Ended December 31, 2007. Revenues Service revenue $17,000. Expenses Rent expense. $9,000 Insurance expense. 1,000 Supplies expense. 200 Total expenses 10,200 Net income $ 6,800
[DOC File]Presentation of Bank Financial Statements
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Presentation of Bank Financial Statements Balance sheet (Report of Condition) Assets . Cash assets: e.g.) cash, deposits at the Federal Reserve. Interest-bearing bank balances: e.g) short-term CD at other banks, federal funds sold (mainly temporary loans made …
[DOC File]HOTEL BALNACE SHEETS
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( According to Law, Balance Sheets shall be prepared at least once in a year! ( Companies might prepare Balance Sheets on a monthly, Quarterly, and/or Semi-annual Basis for Internal Control Purposes. When Should a Balance Sheet be Prepared? Department Income Statements and Schedules. Hotel Income Statement. Statement of Retained Earnings ...
[DOC File]Chapter 06 Audit Planning, Understanding the Client ...
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The planning level of materiality should normally be the larger of the amount considered for the balance sheet versus the income statement. B. The auditors' planning level of materiality may be disaggregated into smaller "tolerable misstatements" for the various accounts. C.
[DOCX File]You have with your programs two sets of financial statements
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In your packets you will find a December 31 2015 income statement and balance sheet. Together these illustrate the financial position of the credit union. ... into the community. Our loan balance is the first line under Assets. It was almost $15 million at the end of December, versus about $12.8 million last year. ... The ratio you see below ...
[DOC File]Financial Statement Analysis
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Accounting Income – The Income Statement (WSF Ch 2) Issues in Revenue and Expense Recognition. Analysis of Recurring versus Nonrecurring items. Significance of Nonrecurring Items to Credit Analysis and Firm Valuation. Introduction to the Concept of The Quality of Earnings. 2. The Balance Sheet & Statement of Stockholders’ Equity (WSF Ch 2)
[DOC File]Asset/Liability Management
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On-balance sheet and off-balance sheet: On-balance sheet adjustments in fixed versus variable pricing and maturities. E.g.) floating rate mortgages on the asset side of the balance sheet or longer term CD on the liability side. Loan sales. Off-balance sheet use of …
[DOCX File]www0.gsb.columbia.edu
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One critical issue of accounting policy is the contentious choice of a “balance sheet approach” versus an “income statement approach.” This is resolved within our framework. We hasten to state that the focus on the equity analyst (and the equity investor) is not the …
[DOC File]Users of Financial Statements
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INCOME STATEMENT Installment Method. Year 1 2 3 Total Revenues 1,000 1,000 1,000 3,000 Expenses 600 600 600 1,800 Income 400 400 400 1,200 Income Cumul 400 800 1,200 Cost Recovery. Year 1 2 3 Total Revenues 1,000 1,000 1,000 3,000 Expenses 1,000 800 0 1,800 Income 0 400 1,000 1,200 Income Cumul 0 200 1,200 BALANCE SHEET. Installment Method
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