1. Understand the purpose and use of the basic financial statements:
(a) Income Statement, or Profit & Loss
(b) Cash Flow Statement
(c) Balance Sheet
2. Understand the basic elements of an Income Statement and Cash Flow Statement
3. Understand how to create a Cash Flow Statement
This lesson provides a fundamental overview of three basic financial statements: Income Statement, Cash Flow Statement, and Balance Sheet.
It will help you understand what each is for, as well as demonstrate how to read a P&L (Income Statement) and use it to create a Cash Flow Statement.
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A quick introduction to the purpose and use of the three basic financial statements.
A brief introduction to the Income Statement.
Here we analyze the Statement of Cash Flows using the Indirect method. We will cover the Direct method in a future learning packet.