Difference between Income Statement and Balance Sheet. If you are the owner of a small business, or a financial manager in a company, it is important for you to be familiar with financial statements, and how they are prepared to get an idea of true profit or loss figures.
4. Forecast the balance sheet: a. Forecast the balance sheet: invested capital and non-operating capital b. Forecast the balance sheet: investor funds. Complete the balance sheet by computing retained earnings and forecasting other equity accounts. Use cash and/or debt accounts to balance the cash flows and balance sheet. 5. Calculate discount ... Aug 06, 2016 · Today, these financial statements have been explained in one minute: the balance sheet, the income statement (also known as the profit and loss statement or P&L statement) and the cash flow statement. 2. Understand the effects of dividends received and investee income on the financial statements of the investor under the equity method. 3. Understand the effects of consolidated accounting on the balance sheet and income statement of the investor: a. Does an acquisition effect shareholders' equity? b.