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    Accounting Reviewer

    Uploaded by

    Hershi Trish
    The document discusses key financial statements including the statement of comprehensive income and statement of cash flows. The statement of comprehensive income, also known as the income statement or profit and loss statement, shows a company's revenues, expenses, and profits/losses over a period of time. It is linked to the statement of financial position as it reports on a company's income generating activities. The statement of cash flows categorizes a company's cash inflows and outflows into operating, investing, and financing activities to reconcile beginning and ending cash balances. It provides insight into where a company's cash comes from and how it is used.

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    Accounting Reviewer

    Uploaded by

    Hershi Trish
    69 views5 pages
    The document discusses key financial statements including the statement of comprehensive income and statement of cash flows. The statement of comprehensive income, also known as the income statement or profit and loss statement, shows a company's revenues, expenses, and profits/losses over a period of time. It is linked to the statement of financial position as it reports on a company's income generating activities. The statement of cash flows categorizes a company's cash inflows and outflows into operating, investing, and financing activities to reconcile beginning and ending cash balances. It provides insight into where a company's cash comes from and how it is used.

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    The document discusses key financial statements including the statement of comprehensive income and statement of cash flows. The statement of comprehensive income, also known as the income statement or profit and loss statement, shows a company's revenues, expenses, and profits/losses over a period of time. It is linked to the statement of financial position as it reports on a company's income generating activities. The statement of cash flows categorizes a company's cash inflows and outflows into operating, investing, and financing activities to reconcile beginning and ending cash balances. It provides insight into where a company's cash comes from and how it is used.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    69 views5 pages

    Accounting Reviewer

    Uploaded by

    Hershi Trish
    The document discusses key financial statements including the statement of comprehensive income and statement of cash flows. The statement of comprehensive income, also known as the income statement or profit and loss statement, shows a company's revenues, expenses, and profits/losses over a period of time. It is linked to the statement of financial position as it reports on a company's income generating activities. The statement of cash flows categorizes a company's cash inflows and outflows into operating, investing, and financing activities to reconcile beginning and ending cash balances. It provides insight into where a company's cash comes from and how it is used.

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    Statement of comprehensive income

    - Is also known as income statement or profit and loss statement

    Single step

    Multiple step (laging gingamit)

    - Grinugrupo

    Net purchases

    Net
    - May binawas

    Freight in

    - Dineliver un goods n binili mo


    - Delivery fee

    Ending inventory

    - Natira

    General administrative expenses

    - Involve ang office

    Operating income – pag nabaas na sa groos profit ung general eme at selling exp. Tas imamanus ung
    operating expense. Equals net inc

    Other expense – d regular sa operation ng business

    Omni Corp

    Statement of the Comprehensive Inc

    For the year ended Dec. 31, 2019

    Sales (projected sales)


    Cost of goods sold (-)

    = gross profit

    Less: selling and administrative exp.

    =operating inc.

    (-) Other inc. (expenses)(expenses and income kasama)(pagexpense (-)) (pag income(+))

    = Net income before tax

    (-) Provision for the income tax (35% of net income before tac)

    =Net inc.

    What is the link between the statement of income and the statement of financial position?

    Statement of comprehensive income

    Limited partner

    - Kung anong kinontribute

    Unlimited liability

    - Kapag hindi na kaya magbayad ng company mo sa creditors nya pwede silang mag go after sa
    peronal properties mo

    Limited liability

    - Could not go after ur properties

    Forms of Business Organization

    1. Sole Propriertorship

    Cash Flows three types of activities:

    1. Cash flows from operating activities


    - Affect net income
    - Revenues and expenses
    2. Form investing activities
    - Non current assets
    - Fixed assets , tangible, intangible

    3. Financing activities
    - Equity and debt of the equity
    - Uutang or magbebenta ng stocks

    Inc. cash

    - Operating kapag nagbenta ka


    - Investing nagbenta ng non current assets
    - Financing, nangutang

    Dec. cash

    - Operating, nagbayad ka ng utilities (expense)


    - Investing, (bumili ng equipment ng machine)
    - Financing, nagabayad ng utang or bumili ng stocks

    Direct Method Cash Flow Statement

    - Actual receive of cash


    - Cash rec frm cust.
    - Cash rec. frm other inc
    - Cash paid
    - Cash paid for the ff. exp.
    - Additional inv.
    - Cash balance

    gray

    Statement for cash flow

    For the month ended


    Cash flow form operating act.

    Inflow

    Eme

    Outflow

    Eme (then minus both total) = net cash provided by operating activities

    Investing

    Inflow

    Outflow

    Financing

    Inflow

    Outflow

    Indirect Method Cash Flow Statement

    - Ang nababago lang is ung cash flow from operating activities

    Non cash exp. (added)

    Non cash inc (deduct)

    Inc in operating current assets (deduct)

    Inc in operating current liabilities (added)

    ABM COMPANY
    statement of cash flow

    Cahs flow wform opr. Act


    To reconcile net inc yo cash

    Net inc

    Add: Dep exp (always) (add back mo ung exp na d k gumamit ng cash)

    Less: gain on sale equipment (kasi nadagdagan net inc ko ) (inv)

    THEN ADD LAHAT

    CHANGES IN CURRETN ASSETS AND CURRETN LIA

    Inc in ar (deduct)

    Dec in ap (deduct))

    =cash flow provided by operating ctivities

    Interest

    I= interest rate, r/m

    N= t x m

    M= quarterly (4), annual (1)

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