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Balance Sheet
#analyst-notes #cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro #study-session-7

A balance sheet provides a "snapshot" of a company's financial condition. Think of the balance sheet as a photo of the business at a specific point in time. It reports major classes and amounts of assets, liabilities, stockholders' equity, and their interrelationships as of a specific date.

Assets = Liabilities + Stockholders' Equity

  • Assets are the economic resources controlled by the company.
  • Liabilities are the financial obligations that the company must fulfill in the future. Liabilities are typically fulfilled by payment of cash. They represent the source of financing provided to the company by the creditors.
  • Equity ownership is the owner's investments and the total earnings retained from the commencement of the company. Equity represents the source of financing provided to the company by the owners.
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Subject 2. Major Financial Statements
ing operations is deemed not to be persistent, then recurring (pre-tax) income from continuing operations should be adjusted. The net income figure is used to prepare the statement of retained earnings. <span>Balance Sheet A balance sheet provides a "snapshot" of a company's financial condition. Think of the balance sheet as a photo of the business at a specific point in time. It reports major classes and amounts of assets, liabilities, stockholders' equity, and their interrelationships as of a specific date. Assets = Liabilities + Stockholders' Equity Assets are the economic resources controlled by the company. Liabilities are the financial obligations that the company must fulfill in the future. Liabilities are typically fulfilled by payment of cash. They represent the source of financing provided to the company by the creditors. Equity ownership is the owner's investments and the total earnings retained from the commencement of the company. Equity represents the source of financing provided to the company by the owners. Cash Flow Statement The primary purpose of the cash flow statement is to provide information about a company's cash receipts and


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