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Balance Sheet: 10 key parts of the statement of financial position

Study Zone Institute May 9, 2023 Business and Accounting Basics Comments Off on Balance Sheet: 10 key parts of the statement of financial position

The Balance Sheet is the next step in the Accounting Cycle after the Income Statement is completed. It is one of 3 financial statements that is prepared by an accountant. The other 2 are Income Statement and Cash Flow Statement. It reports the assets, liabilities, and capital of a business. The …

ALICE: Assets, Liabilities, Income, Capital, Expenses

Study Zone Institute May 9, 2023 Business and Accounting Basics Comments Off on ALICE: Assets, Liabilities, Income, Capital, Expenses

Studying principles of accounts can be very easy once you learn which items are Assets, Liabilities, Capital, Income and Expenses. The accounts that fall under these 5 headings are used throughout your POA course. You can even associate the ALICE accounts with action words, you OWN assets, OWE liabilities, EARN …

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Balance Sheet: 10 key parts of the statement of financial position

ALICE: Assets, Liabilities, Income, Capital, Expenses