Accountying

Flirting with Finance explain some the most

This Handbook aims to

"

SEEMINGLY complicated" topics in the field of Financial Accounts ”SUPPOSEDLY scary” bits of finance in

and Financial Management in a conceptual way. Once the concepts are clear then calculation part becomes extremely easy. This handbook explains the

layman’s term. It also contains the definition of basic financial terms explained in a way understood by students from all backgrounds. It is basically a compilation of data from various sources that’s gonna make your finance life fun and easy. It also includes pouring over books.

links to various

tutorial videos and sites that are much easier to study from rather than knowledge brush up and for getting your fundas right before sitting for interviews!!
This book will also be real handy to do some

So let’s go have some fun with Finance….

FINANCIAL ACCOUNTS FINANCIAL ACCOUNTS

BALANCE SHEET

 The Balance Sheet is one of the three essential measurement reports for the performance and health of a company along with the Profit and Loss Account and the Cashflow Statement.  The Balance Sheet is a 'snapshot' in time of who owns what in the company, and what assets and debts represent the value of the company. (It can only ever be a snapshot because the picture is always changing.)  The term 'balance sheet' is derived from the simple purpose of detailing where the money came from, and where it is now. The balance sheet equation is fundamentally: (where the money came from) Capital + Liabilities = Assets (where the money is now). Hence the term 'double entry' - for every change on one side of the balance sheet, so there must be a corresponding change on the other side - it must always balance.  The Balance Sheet does not show how much profit the company is making (the P&L does this), although previous years' retained profits will add to the company's reserves, which are shown in the balance sheet.

Here is an example of a