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1、1.Walkmethroughthe3financialstatements??The3financialstatementsaretheIncomeStatement,theBalanceSheetandtheCashFlowStatement?IncomeStatementgivesthecompany’srevenueandexpensesandgoesdowntoNetIncome,thefinallineofthestatement?TheBalancesheetshowsthecompany’sAssets(itsresourcessuch
2、ascash,inventoryandPP&E)aswellasitsLiabilities(suchasDebt,AccountsPayable)andfinallyShareholdersEquity.A=L+OE?TheCashFlowStatementsbeginswithNetIncome,adjustsfornon-cashexpensesandworkingcapitalchangesandthenlistscashflowfrominvestingandfinancingactivities;attheend,itreportsthec
3、ompany’snetchangeincash2.Howdothe3statementslinktogether??Totiethestatementstogether,NetIncomefromtheIncomeStatementflowsintoSEonthebalancesheet,andintothetoplineofthecashflowstatement?Changestothebalancesheetappearasworkingcapitalchangesonthecashflowstatement,andinvestingandfin
4、ancingactivitiesaffectbalancesheetitemssuchasPP&E,DebtandSE.?ThecashandSEitemsonthebalancesheetactsas“plugs”withcashflowinginfromthefinallineonthecashflowstatement3.WheredoesdepreciationappearontheIncomeStatement??Itcouldbeaseparatelineitem,oritcouldbeembeddedintheCOGSorOperatin
5、gExpense–everycompanydoesitdifferently4.WhathappenswhenDepreciationgoesupby$10onthestatements??IncomeStatement–OperatingIncomewoulddecreaseby$10andassuminga40%taxrate,NetIncomewouldthendecreaseby$6?CashFlowStatement–TheNetIncomewouldinturnbereducedby$6,butthe$10depreciationisano
6、n-cashexpensethatgetsaddedback,thusoverallcashflowfromoperationsgoesupby$4(-$6+$10=+$4)?Balancesheet–PP&Egoesdownby$10ontheAssetssidebecauseofthedepreciationandCashgoesupby$4fromthechangesinthecashflowstatement?Overalltheassetsaredownby$6,NetIncomeisdownby$6whichimpliesthatSEisd
7、ownby$6.Bothsidesofthebalancesheetfootout.5.IfDepreciationisanon-cashexpense,whydoesitaffectcashbalance??Depreciationistax-deductibleandsincetaxesareacashexpense,depreciationaffectscashbyreducingtheamountoftaxesthecompanypays6.WhathappenswhenAccruedCompensationgoesupby$10??Assum
8、ingaccruedcompensationisnowbeingrecognizedasane
