4 - An Introduction to Financial Statements

I've read a lot of boring stuff so that you don't have to! Today we will summarize some of the useful information in the FASB Concepts Statements and other literature. This information will be useful as you move along to more advanced levels of accounting. 

Example: You own a sole proprietorship. For this period, you had revenue of $100,000, wage expense of $40,000, and computer expense of $30,000 (net income of $30,000). You also contributed $10,000 to the business this period. Step 1 – Transfer Revenue and Expense items to Income ...  Show more

This episode of FinPod covers understanding bank financial statements and analysis. We highlight the unique aspects of bank financial statements compared to typical company statements, plus the significance of the balance sheet and the importance of understanding interest inco ...

We continue our month of podcasts focused on financial statement presentation hot topics. 

In this episode, host Heather Horn sits down with Pat Durbin, a deputy chief accountant in PwC’s National Office, and Felix Perez, a partner in PwC’s National Office specializin ...

Financial ratios are the essential shorthand analysts use to distill massive financial statements into actionable insights. In this episode of Corporate Finance Explained on FinPod, we go beyond academic definitions to explore how ratios reveal a company's true story, measuring p ...  Show more

In this episode, we explore the cash statement, also known as the cash flow statement, and its critical role in financial reporting. We break down the three main sections—operating, investing, and financing activities—and explain how they provide insights into a company’s liqu ...