Entrepreneurship Mr. Bernstein Preparing Financial Statements, pp 437-443 December 2015.

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Presentation transcript:

Entrepreneurship Mr. Bernstein Preparing Financial Statements, pp December 2015

Entrepreneurship Mr. Bernstein 2 Advertising 3 Primary Financial Statements Income Statement Balance Sheet Cash Flow Statement Ledger Balances

Entrepreneurship Mr. Bernstein 3 Primary Financial Statements Income Statement reports Profit/Loss Balance Sheet reports Assets & Liabilities Cash Flow Statement reports cash receipts and disbursements 3

Entrepreneurship Mr. Bernstein Accounting Activities Recording Journal Entries Posting to Ledgers Maintaining Tax Records Preparing Financial Statements Reconciling Bank Statements Who will perform record keeping in your business? 4