Unit 2 _4.2_Financial statements

• BTEC
• MBO
• Studiejaar 1

Today's program

• Questions regarding homework 4.3
• Recap profit and loss account
• Balance sheet
  

Learning outcomes

At the end of the lesson you:

- know the importance of financial statements

- have learned about the two main financial statements

              Profit and loss                                  Balance sheet

     

            

1.

2.

Recap

Work in couples;

- Write down, individually, at least three things you still know from yesterday's lesson.

- Compare and discuss your answers with the student next to you and complete your list.

Type down at least one
thing your duo taught you.

Profit and loss

How do you calculate gross profit?

1. sales revenue- costs of goods sold
2. Costs of goods sold- Sales revenue
3. Sales revenue- total costs

How do you calculate net profit?

What does liquidity measure?

1. firm's ability to meet lang-term cash payments
2. firm's ability to meet short-term cash payments

Why balance sheet?

1. Assests --> things a business owns
2. Liability --> debts a business owes
3. Equity --> the amount invested in the business
   

Assets-things a business owns

- Fixed assets 

- Current assets. 

Read p.78

What is the difference between fixed assets and current assets (in your own words)

Activity

Work in couples and make case study: Speed Ferries (p.77)

Learning outcome 1 achieved?
What is the importance of a financial statement?

Learning outcome 2 achieved?
What have you learned about profit & loss and balance sheet?

Homework

Complete your summery chapter 4, include all formulas.

THANK YOU!