FINACIAL

STATEMENTS

by Angelo Ellica Jadraque, CPA, MM

 INCOME STATEMENT

- a financial report that shows

results of operation for an
accounting period.

Components:
- Revenues
- Cost of Sales or Cost of Goods sold
- Expenses
- Net income or Loss
 Statement of Financial Position
- is a “snapshot” of a firm’s
position at a specific point in
time.

Assets are divided into two

major categories:
- Current assets
- Non-current assets
Liabilities are divided into two
major categories:
- Current
- Non-current
 Statement of Financial Position

2 Forms of Presentation:
a. Account Form
b. Report Form
Account Form
Report Form