From the course: Managerial Finance Foundations
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Overview of the financial statements
From the course: Managerial Finance Foundations
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. - To identify and determine and manage resources, you need information. - Now one source of information is a company's financial statements. The balance sheet, the income statement and the statement of cash flows. - Let's define the items found in these financial statements. - The first primary financial statement is the balance sheet. A balance sheet is a listing of a company's valuable resources, it's assets. - An asset is defined as a tangible thing or an intangible right that a company owns or controls and that is expected to generate benefits in the future. - For example, as of January 31st, 2021 Walmart had total assets of $252 billion. Of this amount, $45 billion was the cost of the inventory sitting on the shelves of the 11,443 Walmart stores…
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