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Norm A5 Jorge Uscanga A01746197 - Coggle Diagram
Norm A5 Jorge Uscanga A01746197
Balance sheet
Reports assets liabilities and equities at the end of an accounting period
Assets
Resources owned by a company
Examples
Goods available for sale
Land
Goods destined to the company's operations
Labor
Equipment
Liabilities
Non-negotiable
Represents a future decrease of income
Payment obligations of a company
Examples
Bank loans
Accounts payable
Asset sub-categories
Short term
Periods shorter than 12 months
Long term
Periods longer than 12 months
Equity
Stockholders investment
Earned
Contributed
Liabilities sub-categories
Long term
Periods shorter than 12 months
Short term
Periods shorter than 12 months
Income statements
Matches revenue with expenses inquiry
At the end of the accounting period
Cost and expenses
Decrease of cash assets or increase in liabilities
Employees salaries
Production costs
Revenue
Increase of cash assets
Might come from company's operations such as sales
Might not come from company's operations
Cash-flow statements
Where the money is distributed, cash received and distributed
Investing
Financing activities