Hello friends it has been a while since our last blog post and I am happy to be back with more business strategies, sports and fun things we like to do that can benefit you or entertain you in one way or the other.
The purpose of these summaries is to help our fellow student and entrepreneur have a clear understanding of the principles of financial accounting. You can use this knowledge for academical or practical purposes.
What is the use of an income statement and why should you use it? In today’s summary you are going to understand how to create an income statement for your business or personal finances. You are going to learn the difference between revenue and profit, and how to calculate the depreciation of non-current assets. This info comes from the book Financial Accounting For Decision Makers – Sixth Edition by Peter Atrill and Eddie McLaney
In today’s summary you will gain an insight on chapter two from the book Financial Accounting For Decision Makers – Sixth Edition by Peter Atrill and Eddie McLaney. You will understand the three most important financial statements and how you can use them to become more organized, compare results and create new strategies.