Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Principles of Buisness, Marketing, and Finance

Compare and contrast an income statement and balance sheet.
by

Jillian Pontius

on 2 March 2011

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Principles of Buisness, Marketing, and Finance

Compare and Conrast Finanacial Statements Income Statment- Revenue
Expenses
Net profit or loss Balance Sheet- Assets
Liabilities
Net worth
Income statement describes the current year performance while balance sheet describes the overall position of company right from the starting year of business to current year.
Income statement provide the current year net profit information while balance sheet provide information about the overall assets and liabilities of company applied in the business.

Example:
Income Statement Example:
Balance Sheet " Google Image Result for http://www.computer-accounting-software-help.com/images/IncomeStatementExample10-5-05.jpg." Google. N.p., n.d. Web. 28 Feb. 2011. <http://www.google.com/imgres?imgurl=http://www.computer-accounting-software-help.com/images/IncomeStatementExample10-5-05.jpg&imgrefurl=http://www.computer-accounting-software-help.com/Example_Income_Statement.html&usg=__fZjuHhRivmXaL-soXDZOjD2Vflc=&h=408>.
" Google Image Result for http://www.computer-accounting-software-help.com/images/IncomeStatementExample10-5-05.jpg." Google. N.p., n.d. Web. 28 Feb. 2011. <http://www.google.com/imgres?imgurl=http://www.computer-accounting-software-help.com/images/IncomeStatementExample10-5-05.jpg&imgrefurl=http://www.computer-accounting-software-help.com/Example_Income_Statement.html&usg=__fZjuHhRivmXaL-soXDZOjD2Vflc=&h=408>.
" Google Image Result for http://www.greekshares.com/uploads/image/annual_report_financial_statement.jpg." Google. N.p., n.d. Web. 28 Feb. 2011. <http://www.google.com/imgres?imgurl=http://www.greekshares.com/uploads/image/annual_report_financial_statement.jpg&imgrefurl=http://www.greekshares.com/finesta.php&usg=__EP1XY2G2P-5mceGUsjHkjbzTiB0=&h=365&w=406&sz=193&hl=en&start=0&zoom=1&tbnid=gDYTqtLJyf>.
"Answers.com - What is the difference between an income statement and a balance sheet." WikiAnswers - The Q&A wiki. N.p., n.d. Web. 28 Feb. 2011. <http://wiki.answers.com/Q/What
Income Statement is another type of a financial statement. It summarizes activities and events of one company which happened in a period of time. Usually, there are monthly, quarterly, and annual income statement. An income statement will show all revenues, all expenses, and net profits in detail.
A balance sheet shows a company’s financial positions such as assets and debt at that precise date. A balance sheet will show company's assets, liabilities and sharesholders equities.
For financial statement analysis purposes, having either one is useless. It is essential to have both income statement and balance sheet together.
Full transcript