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Alpha Teach Yourself Bookkeeping in 24 Hours by Carol Costa

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Hour 16

Issuing Financial Statements

Chapter Summary

In this hour you will learn about…

  • Posting from the checkbook
  • Profit & Loss Statement
  • Current month and year-to-date
  • Balance Sheet
  • Notes to Financial Statements

Issuing the Financial Statements for an employing company or your own small business is what a bookkeeper works toward all month long. It’s a little like crossing the finish line after a race. All the steps, large and small, taken during the preceding month have led up to this point.

 

In smaller business operations the checkbook balance is a good indication of whether the month has been profitable or not. However, the Financial Statements are what make it possible to study the overall picture.

 

Every account where data was recorded will have a ...

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