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loan to plan business customer estimate

to possess something what someone earns, saves, invests and uses to pay for something an organization that buys or sells products or services for money assets money, provided by a bank to a customer for an agreed purpose property or goods that you agree to give to someone who has lent you money of you can not pay the money back something one intends to do and makes arrangements to achieve the country, race or social situation that someone comes from a statement telling a customer how much money you will charge if they employ you to do a particular piece of work client

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Financial statements

Balance sheet, profit and loss account, funds flow statement are the basic accounting statements.

A balance sheet is the financial statement that reports the financial condition of a firm at a specific time.

A balance sheet, in formal bookkeeping and accounting, is a statement of the book value of a business or other organization or person at a particular date, often at the end of its “fiscal year”, as distinct from an income statement, also known as a profit and loss account (P&L), which records profit and losses over a specified period of time. A balance sheet is often described as a “snapshot” of the company’s financial condition on a given date. Of the basic financial statements, the balance sheet is the only statement which applies to a single point in time instead of a period of time. A simple business operating entirely in cash could measure its profits by simply withdrawing the entire bank balance at the end of the period plus any cash in hand. However real businesses are not paid immediately, they build up inventories of goods to sell and they acquire buildings and equipment. In other words: businesses have assets and so they could not, even if they wanted to, immediately turn these into cash at the end of each period. Real businesses also owe money to suppliers and to tax authorities, and the proprietors do not withdraw all their original capital and profits at the end of each period. In other words businesses have liabilities.

A modern balance sheet usually has three parts: assets, liabilities and shareholders’ equity. The main categories of assets are usually listed first and are followed by the liabilities. The difference between the assets the liabilities is known as the ‘net assets’ or the ‘net worth’ of the company.

The net assets shown by the balance sheet equals the third part of the balance sheet, which is known as the shareholders’ equity. This balance is not a coincidence. Records of the values of each account in the balance sheet are maintained using a system of accounting known as double-entry bookkeeping.

Funds flow statement usually relates to a shorter period of time. It shows the sources and uses of funds employed by a business over a shorter period of time. Funds flows analysis shows changes in working capital for a given period of time.

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1. Financial statements are the types of business accounting.

2. A balance sheet presents the analysis of the book value of a company over a long period of time.

3. If a business operating in cash wants to measure its gains at the end of the period, it simply decides to withdraw entire bank balance.

4. Real businesses have both assets and liabilities.

5. Assets and liabilities are the two components of a modern balance sheet.

6. Accounting statement showing the revenue and expenses over period of time is called profit and loss statement.

7. Double – entry bookkeeping system is used to maintain records of the values of each account in the balance sheet.

8. Funds flows are useful to analyze changes in fixed capital.