Annual Report, Income Statement, Balance Sheet, & Statement of Cash Flow

office of Jacob Fugger; with his main-accounta...

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Using accounting tools to develop and sustain your business information is an ongoing task.  There are great web sites that can help you to understand all of these details.  The best sites suggest using these tools from other companies to help you learn about what is needed to use these various reports.

The big companies hire many accountants to do all of this mathematics.  In the early days of your company, you may have to do your own.  However, this is the perfect time to get to know how to use these tools.

There is much to be learned from Business.com and a quick search of the internet led us there and even one topic provided a great deal of information.  “Annual Reports Education and Training” was a great place to start.  Click Retail to find many more links to information needed by retailers, including Merchandise Display and Point of Sale.

Because we know that there is just so much to learn and do, we wanted to provide a few links that may be helpful.  Accounting Coach.com is a wonderful site that helps non-accountants understand this end of the business. 

Accounting Coach.com, which has had more than 12 million visitors in seven years, offers free lessons on accounting.  The About section says, “After working as an accountant, consultant, and university accounting instructor for more than 25 years, Harold Averkamp formed AccountingCoach.com in 2003. His goal was to share his knowledge and passion for accounting with people throughout the world at no cost.”

There are quizzes, crosswords and Q&A sections to help you learn.  And the step-by-step layout of topics, such as Statement of Cash Flows, allows the user to completely comprehend the use of this statement.  Clicking on the Income statement (Profit and Loss) will lead you to learn more about this type of mathematics we study in FSHN 2303.

Remember the quizzes, tip sheets and printable forms, for example this Quiz for the topic: Income statement.  We love it that the correct answer is given immediately when you hover over your chosen answer.  Also remember to have fun while you learn to make a business into a sound success.

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