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A business financial statement is comprised of two parts.
They are a Balance Sheet and an Income Statement (Profit & Loss).
Each should include:
Balance Sheet:
(Must be as of a specific day, i.e. 12/31/2003)
Current Assets: |
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Cash & Cash Equivalents* |
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Accounts Receivable |
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Other Current Assets |
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Total Current Assets |
Fixed Assets |
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Real Estate Equipment |
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Other Long Term Assets |
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Total Assets |
Current Liabilities |
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Accounts Payable |
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Loans Due in 12 months |
Current Portion of Long Term Debt |
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| Other Current Liabilities |
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Total Current Liabilities |
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Real Estate Debt |
Other Long Term Debt |
| Other Long Term Debt |
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Total Liabilities |
Net Worth (Total Assets less Total Liabilities) |
| Total Liabilities and Net Worth |
Income & Expense Statement:
(Must be as of a period of time, i.e. 12 months year end)
Revenue
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Gross Sales |
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Less Cost of Goods Sold |
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Net Sales |
Other income |
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Total Income |
Expenses |
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Itemized Expense Categories |
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Total Expenses |
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Net Income |
*For non CPA prepared statements:
Bank and Investment Account statements for the same period must be included to verify amounts shown. |
