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NCEA Level 2 Information on financial information for Business Studies.
Terms in this set (14)
A formal record of the financial activities of a business, often refered to as an account.
Statment of financial position or condition, reports on a company's assets,liabilities, and Ownership equity at a given point in time.
Profit or Loss statement. Reports on a company's income, expenses and profits.
A list of all planned expenses and revenues. Provides a forecast.
Where the firm will just cover its costs
Analyses a businesses costs, or the use of available resources, and reports such analysis to management for decision-making and control
current assets divided by current liabilities
Statement of Retained Earnings
explains the changes in a company's retained earnings over a reporting period.
Statement of Cash Flow
reports on a company's cash flow activities , particularly its operating, investing and financing activities
Normally an esitmate of future financial outcomes for a business
Compare actual sales with the volumes planned for the period
Usually present their annual accounts as part of their annual report
a comprehensive report on a company's activities throughout the preceding year.
Purpose of financial Information
Provide information about the financial position, performance and changes in the financial position of a enterprise
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