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% Document Info
\author{BurkAmy}
\pdfinfo{
  /Title (financial-statements.pdf)
  /Creator (Cheatography)
  /Author (BurkAmy)
  /Subject (Financial Statements Cheat Sheet)
}

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\noindent
\begin{multicols}{3}
\begin{tabulary}{5.8cm}{C}
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    \vspace{-7pt}
    {\parbox{\dimexpr\textwidth-2\fboxsep\relax}{\noindent
        \hspace*{-6pt}\includegraphics[width=5.8cm]{/web/www.cheatography.com/public/images/cheatography_logo.pdf}}
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\columnbreak
\begin{tabulary}{11cm}{L}
    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Financial Statements Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{BurkAmy} via \textcolor{DarkBackground}{\uline{cheatography.com/123754/cs/23449/}}}
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\noindent
\begin{multicols}{3}
\begin{tabulary}{5.8cm}{LL}
  \SetRowColor{FootBackground}
  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}BurkAmy \\
  \uline{cheatography.com/burkamy} \\
  \end{tabulary}
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\columnbreak
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Not Yet Published.\\
   Updated 25th June, 2020.\\
   Page {\thepage} of \pageref{LastPage}.
\end{tabulary}
\vfill
\columnbreak
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Sponsor}}  \\
  \SetRowColor{white}
  \vspace{-5pt}
  %\includegraphics[width=48px,height=48px]{dave.jpeg}
  Measure your website readability!\\
  www.readability-score.com
\end{tabulary}
\end{multicols}}




\begin{document}
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\begin{multicols*}{2}

\begin{tabularx}{8.4cm}{x{2.432 cm} x{2.432 cm} x{2.736 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{3}{x{8.4cm}}{\bf\textcolor{white}{Forms of Business}}  \tn
% Row 0
\SetRowColor{LightBackground}
{\bf{1. Sole Prop}} & {\bf{2. Partnership}} & {\bf{3. Corporation}} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
Tax advantages & Tax advantages & Higher taxes \tn 
% Row Count 4 (+ 2)
% Row 2
\SetRowColor{LightBackground}
Easily formed & Skill of owners & Complex to organize \tn 
% Row Count 6 (+ 2)
% Row 3
\SetRowColor{white}
Owner control & Shared control & Easy transfer control \tn 
% Row Count 8 (+ 2)
% Row 4
\SetRowColor{LightBackground}
Personal liability & Personal liability & Limited liability \tn 
% Row Count 10 (+ 2)
% Row 5
\SetRowColor{white}
Limited life & Limited life & Easier to raise money \tn 
% Row Count 12 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}---}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{x{4 cm} x{4 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{8.4cm}}{\bf\textcolor{white}{{\bf{Statement of Earnings = Income Statement}}}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{2}{x{8.4cm}}{How well a business performs. Profit and loss.} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
{\bf{Net Income = Revenue}} & {\bf{- Expenses}} \tn 
% Row Count 3 (+ 2)
% Row 2
\SetRowColor{LightBackground}
Rev = asset (cash) a company gets for a good or service. Recorded at delivery to customer. & Exp = cost of assets used or liabilities created during operations. \tn 
% Row Count 8 (+ 5)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{x{2.28 cm} x{2.052 cm} x{3.268 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{3}{x{8.4cm}}{\bf\textcolor{white}{{\bf{Statement of Cash Flows}}}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{3}{x{8.4cm}}{Changes in cash over time. In/outflows \& related to:} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
{\bf{Operating}} & {\bf{Investing}} & {\bf{Financing}} \tn 
% Row Count 4 (+ 2)
% Row 2
\SetRowColor{LightBackground}
Running the business & Buy/sell LTA to run ops & Get capital to run business \tn 
% Row Count 7 (+ 3)
% Row 3
\SetRowColor{white}
Acc Rec (income) & Buy/sell P, P \& E & Issuing CS, Bonds, Bank invests \tn 
% Row Count 9 (+ 2)
% Row 4
\SetRowColor{LightBackground}
Acc Pay (services, wages) & Lending \$ (loans) & Pay out Divs, Retire (pay back) Debt \tn 
% Row Count 12 (+ 3)
\hhline{>{\arrayrulecolor{DarkBackground}}---}
\SetRowColor{LightBackground}
\mymulticolumn{3}{x{8.4cm}}{SCF informs investors \& creditors and assess company's: \newline - Ability to produce future net cash inflows  \newline - Ability to meet obligations and pay dividends \newline - Need for external financing \newline - Reasons for diffs btn NI \& cash receipts  \newline - SFP eval of effects of cash \& noncash I \& F transactions.}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}---}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{x{4.48 cm} x{3.52 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{8.4cm}}{\bf\textcolor{white}{{\bf{Cash vs Accrual Accounting}}}}  \tn
% Row 0
\SetRowColor{LightBackground}
{\bf{Cash Basis}} & {\bf{Accrual Basis}} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
= Rev recorded when cash {\bf{received}} & = Rev recog when {\bf{earned}} \tn 
% Row Count 3 (+ 2)
% Row 2
\SetRowColor{LightBackground}
= Exp recorded when cash {\bf{paid}} & = Exp recog when {\bf{incurred}} \tn 
% Row Count 5 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{{\bf{Accrual Basis Accounting}}}}  \tn
% Row 0
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\mymulticolumn{1}{x{8.4cm}}{{\bf{Periodicity, Revenue Recognition Principle, Matching Concept}}} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{- Done at end of accounting period, more meaningful comparisons btn companies \& across time, predictive of future income} \tn 
% Row Count 5 (+ 3)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{- Impacts 1(+) income statement account and 1 SFP account (not Cash Flow statement)} \tn 
% Row Count 7 (+ 2)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{ACCRUED REVENUE}} = earned Rev, no cash received. Adj needed: record Rev \& in A (AR). If not done: understated A (AR), Rev, NI, Profit} \tn 
% Row Count 10 (+ 3)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{ACCRUED EXPENSE}} = incurred Exp, no cash is paid. Adj needed: record Exp \& in L (AP). If not done: understated L (AP), Exp, overstated NI, SE, Profit} \tn 
% Row Count 14 (+ 4)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{UNEARNED REVENUE}} = receive cash (in A), service not done (de L). Adj needed: record Rev \& de L (unearned Rev). If not done: overstated L, understated Rev, NI, SE, Profit} \tn 
% Row Count 18 (+ 4)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{PREPAID EXPENSE}} = cash is paid (de A, cash), service not received (in A, prepaid exp). Adj needed: record Exp \& de A (prepaid Exp). If not done: overstated A, NI, SE, Profit, understated Exp.} \tn 
% Row Count 22 (+ 4)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Revenue Recognition}} can occur when the Rev and Exp is reliably measurable and the following has been transferred: managerial control, risks, economic benefits}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{{\bf{Nature of Inventory}}}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{MERCHANDISER}} = purchase inv ready to sell} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{MANUFACTURER}} = Raw M-\textgreater{} WIP -\textgreater{} Fin Goods} \tn 
% Row Count 2 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{Inventory = Asset, Expense = COGS} \tn 
% Row Count 3 (+ 1)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{PERPETUAL INV SYSTEM}} = cont updated, records Rev \& Cost at same time, more expensive, better for decision-making} \tn 
% Row Count 6 (+ 3)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{PERIODIC INV SYSTEM}} = balance prod at end of accounting period w/ physical count, est using gross profit method, cheaper} \tn 
% Row Count 9 (+ 3)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{Analyzing Inv: 2 main KPI = GP Ratio \& Inv Turnover Ratio} \tn 
% Row Count 11 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{x{2.584 cm} x{2.508 cm} x{2.508 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{3}{x{8.4cm}}{\bf\textcolor{white}{{\bf{Statement of Financial Position}}}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{3}{x{8.4cm}}{Balances what co has with what it owes at specific point in time} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
{\bf{Assets =}} & {\bf{Liabilities}} & {\bf{+ \seqsplit{Shareholder's} Equity}} \tn 
% Row Count 4 (+ 2)
% Row 2
\SetRowColor{LightBackground}
Resources owned or controlled by company & Obligations incurred \& need to be settled. Creditor's claim & Owners' residual interest in the company \tn 
% Row Count 9 (+ 5)
% Row 3
\SetRowColor{white}
{\bf{CURRENT}} & {\bf{CURRENT}} & Common Shares \tn 
% Row Count 10 (+ 1)
% Row 4
\SetRowColor{LightBackground}
Cash, supplies & Salaries & Retained Earnings \tn 
% Row Count 12 (+ 2)
% Row 5
\SetRowColor{white}
Accounts Receivable & Accounts Payable & - Revenue \tn 
% Row Count 14 (+ 2)
% Row 6
\SetRowColor{LightBackground}
Prepaid rent/ins & Unearned Revenue & - Expense \tn 
% Row Count 16 (+ 2)
% Row 7
\SetRowColor{white}
{\bf{NON CURRENT}} & {\bf{NON CURRENT}} & - Dividends \tn 
% Row Count 18 (+ 2)
% Row 8
\SetRowColor{LightBackground}
LTI (P, P \& E) & Loans &  \tn 
% Row Count 20 (+ 2)
% Row 9
\SetRowColor{white}
Intangible (e.g. patent) & Notes, Bonds Payable &  \tn 
% Row Count 22 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}---}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{{\bf{Statement of Changes in Equity}}}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{How much income was kept and how much was given to owners over a period of time} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Retained Earnings (end) = RE (start) + Net Income - Dividends}}} \tn 
% Row Count 4 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{{\bf{Definitions}}}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Account}} = records of in's \& de's in each element of SFP} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Net Income}} = Income from Ops - (Non-op Rev + Exp) - Income tax} \tn 
% Row Count 4 (+ 2)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Cost in Year}} = Inv(s) + Exp(net)} \tn 
% Row Count 5 (+ 1)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{COGS}} = Inv(s) + Exp(net) - Inv(end)} \tn 
% Row Count 6 (+ 1)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Gross Profit (Margin)}} = Net Sales (Revenue) - Cost of Goods Sold} \tn 
% Row Count 8 (+ 2)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Income from Ops}} = Gross Margin - Op Exps} \tn 
% Row Count 9 (+ 1)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Cross Sectional Analysis}} = compares one corporation to another \& to industry averages} \tn 
% Row Count 11 (+ 2)
% Row 7
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Time series (Trend) Analysis}} = compares a corporation across time} \tn 
% Row Count 13 (+ 2)
% Row 8
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Horizontal Analysis}} = SFP items are expressed as \% of base yr (shows trends in time)} \tn 
% Row Count 15 (+ 2)
% Row 9
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{{\bf{Vertical Analysis}} = SFP items are expressed as \% of largest amount on SFP} \tn 
% Row Count 17 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{x{2.088 cm} x{1.8 cm} x{1.872 cm} x{1.44 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{4}{x{8.4cm}}{\bf\textcolor{white}{Changes in SFP Accounts}}  \tn
% Row 0
\SetRowColor{LightBackground}
{\bf{Classification}} & {\bf{Cash Effect}} & {\bf{SFP Affected}} & {\bf{Example}} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
Operating & Inflow (+) & de CA & Collect AR \tn 
% Row Count 4 (+ 2)
% Row 2
\SetRowColor{LightBackground}
 &  & in CL & \seqsplit{Unearned} rev \tn 
% Row Count 6 (+ 2)
% Row 3
\SetRowColor{white}
 &  & in RE & Cash sale \tn 
% Row Count 8 (+ 2)
% Row 4
\SetRowColor{LightBackground}
 & Outflow (-) & in CA & Buy inv \tn 
% Row Count 10 (+ 2)
% Row 5
\SetRowColor{white}
 &  & de CL & Pay AP \tn 
% Row Count 11 (+ 1)
% Row 6
\SetRowColor{LightBackground}
 &  & de RE & Pay int \tn 
% Row Count 12 (+ 1)
% Row 7
\SetRowColor{white}
Investing & Inflow (+) & de LTA & Sell equip \tn 
% Row Count 14 (+ 2)
% Row 8
\SetRowColor{LightBackground}
 & Outflow (-) & in LTA & Buy equip \tn 
% Row Count 16 (+ 2)
% Row 9
\SetRowColor{white}
Financing & Inflow (+) & in LTL & Issue debt \tn 
% Row Count 18 (+ 2)
% Row 10
\SetRowColor{LightBackground}
 &  & in SE & Issue CS \tn 
% Row Count 19 (+ 1)
% Row 11
\SetRowColor{white}
 & Outflow (-) & de LTL & Repay debt \tn 
% Row Count 21 (+ 2)
% Row 12
\SetRowColor{LightBackground}
 &  & de SE & Pay Div \tn 
% Row Count 22 (+ 1)
% Row 13
\SetRowColor{white}
NC I \& F & Inflow (+) & NC A & Deprec Exp \tn 
% Row Count 24 (+ 2)
% Row 14
\SetRowColor{LightBackground}
 & Outflow (-) & NC Rev &  \tn 
% Row Count 26 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}----}
\SetRowColor{LightBackground}
\mymulticolumn{4}{x{8.4cm}}{{\bf{Cash Flows Impact SFP}} \newline \{\{ac\}\} in CASH = in L + in SE + de NCA  \newline \{\{ac\}\} de CASH = de L + de SE + in NCA}  \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}----}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}