From the course: Finance for Non-Financial Managers
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Overview of the financial statements
From the course: Finance for Non-Financial Managers
Overview of the financial statements
- Finance is identifying necessary resources, figuring out how to get the money to buy those resources, and then managing those resources efficiently once you have them. - To identify and determine and manage resources, you need information. - [Speaker In Pink] One source of that information is a company's financial statements, the balance sheet, the income statement, and the statement of cash flows. - Now, let's define the items found in these three financial statements. - [Speaker In Pink] The first primary financial statement is the balance sheet. A balance sheet is a listing of a company's valuable resources, its assets. - [Speaker In Blue] Asset is defined as a tangible thing or an intangible right that a company owns or controls that is expected to generate benefits in the future. - For example, as of January 31st, 2023, Walmart had total assets of $243 billion. Of this amount, 57 billion was the cost of the inventory sitting on the shelves of the 10,623 Walmart stores around…
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