Monday
Reminder set
7am
Tuesday
Reminder set
7am
Wednesday
Reminder set
7am
Thursday
Reminder set
7am
Friday
Reminder set
7am
Saturday
Reminder set
7am
Sunday
Reminder set
7am
XSIQ
*
Accounting - Preparation of reports
Preparation of reports
The cash report, the Profit and Loss statement, and the balance sheet are
regarded as 'position statements'.
CASH
PROFIT
WEALTH
For example, statements of receipts and payments
Profit and Loss
Balance Sheet
Cash budget
31 May
Bank
6 000
31 May
Rent expense
4 000
Balance
2 000
6 000
6 000
When preparing or reconstructing a record to determine dollar amounts it
is important that the relevant amount go to the correct position statement.
In the example above:
* $6000 = cash position. It is the amount paid
* $4000 = profit position. It is the amount incurred
* $2000 = wealth position. It represents a future benefit
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