Valued Representation. VR is celebrating 32 years of successful business sales through valued representation Valued Representation defines VR.
|
|
- Ethelbert Clifford McCormick
- 7 years ago
- Views:
Transcription
1 Valued Representation VR is celebrating 32 years of successful business sales through valued representation Valued Representation defines VR.
2 VR is: VALUED REPRESENTATION Welcome to Volume #6 Course # 3 ANALYZING AND RECASTING RECASTING EXAMPLE
3 ANALYZING AND RECASTING OUR GOAL FOR THIS COURSE IS TO: PRACTICE RECASTING AN INCOME STATEMENT AND REVIEW OF THE BALANCE SHEET 3
4 ANALYZING AND RECASTING WHAT YOU WILL LEARN Recast a financial statement for a Typical Company 4
5 Course 2: Class exercise In this section you will: Recast a financial statement for a Typical Company Copyright 2008 VR Business Brokers 5
6 Typical Company Income Statement 2007 % Revenue Net Sales $1,500, % Cost of Goods Sold Purchases 700, % Gross Profit 800, % Operating Expenses Officer s Salary 150, % Payroll 250, % Payroll Taxes 27, % Workman s Compensation 4, % Office Supplies 10, % Auto Expenses 3, % Freight 4, % Auto Lease 8, % Legal & Accounting 8, % Charitable Contributions 2, % Utilities 5, % Telephone 7, % Advertising 18, % Travel 5, % Meals & Entertainment 4, % Dues and Subscriptions 2, % Insurance-General 10, % Insurance- Medical 6, % Insurance-Officer s Life 1, % Interest Expense 15, % Maintenance and Repairs 7, % Rent 48, % Equipment Rent 3, % Security & Alarms 2, % Licenses & Fees 2, % Personal Property Taxes % Bank Service Charge % Depreciation 10, % Miscellaneous 3, % Total Operating Expenses $616, % Ordinary Income $184, % Copyright 2008 VR Business Brokers
7 Seller Comments about Typical Company s Add Backs Payroll taxes ran 11% Auto expense was personal Auto lease was personal General insurance included $2,000 for Seller s auto insurance Medical insurance was Seller s Life insurance was Seller s Equipment rental was a one-time non-recurring expense for a fork lift they now own. Lease will expire next year. New lease available for $5,000 per month. Copyright 2008 VR Business Brokers 7
8 SDE RECAST SHEET Name of Business: Typical Company Year/Period Sales 1,500,000 2 Cost of Sales 700,000 3 Payroll 250,000 4 Rent 48,000 5 Remaining Opt. Expenses 345,000 6 Total Operating Expenses 643,000 7 Operating Income/Pre-Tax Profit 157,000 8 Depreciation & Amortization 10,000 9 Interest 15, Officer s/owner s Salary 150, Adjusted Income for SBA 332,000 Discretionary Expenses (Define Miscellaneous) 12 Auto for owner s personal use 3, Insurance for owner s personal use 9, Travel not required by business 5, Entertainment 4, Meals 17 Profit Sharing/Retirement for owner 18 Miscellaneous: (Charitable Contrib.) 2, Miscellaneous: 20 Miscellaneous: Non-Recurring Expenses (Define) 21 Rented fork lift now own it. 3, Expenses not included on P&L (To be subtracted from Earnings) 24 New Rent adjustment (12,000) Total Adjustments 14, Seller s Discretionary Earnings $346,500 The undersigned hereby warrant(s): 1) He/They is/are the owner(s) of the business, 2) the above is a true representation of the discretionary earnings of the business, 3) the information is furnished to broker pursuant to the Representation/Listing Agreement between owner and broker, 3) broker is authorize to share with potential purchasers of the business, 4) Owner hereby indemnifies Broker for any liability arising from Broker s use of this information. All parties receiving this information are hereby notified that Broker has not made any investigation into the accuracy of the information contained on this sheet and those parties are to make their own independent investigation as to the accuracy of this information and to look solely to the Seller for any loses or damages caused by the inaccuracy of this information. Owner: Date: Owner: Date: Copyright 2008 VR Business Brokers
9 ANALYZING AND RECASTING Course 3: Recasting a Balance Sheet Copyright 2008 VR Business Brokers 9
10 Module 3: Recasting a Balance Sheet In this section you will: Review a typical balance sheet Learn why we recast a balance sheet Compare what items we typically recast: For an asset sale For a stock sale Review a Sample Balance Sheet Recast form Copyright 2008 VR Business Brokers 10
11 What is a Balance Sheet? A Balance Sheet is a financial statement that expresses the financial status of a business on a given date. It is a listing of all the assets and liabilities of a company on that date and can be used to identify the assets and liabilities of the company. A balance sheet can also help an associate or buyer determine the financial health of the business. It is referred to as a Balance Sheet because Total Assets equal (are in balance with) Total Liabilities + Shareholder Equity Copyright 2008 VR Business Brokers 11
12 Sample Company Inc. Balance Sheet SAMPLE COMPANY, INC. STATEMENT OF ASSETS, LIABILITIES AND STOCKHOLDER S EQUITY INCOME TAX BASIS (BALANCE SHEET) April 30, 2003 (Unaudited) ASSETS Current Assets Cash $ 7,937 Accounts Receivable 78,520 Inventory 52,853 Prepaid Expenses 53,614 Total Current Assets $192,924 Fixed Assets Office Furniture & Equipment 10,363 Machinery & Equipment 143,857 Vehicles 42,377 Less: Accumulated Depreciation (96,858) 99,739 TOTAL ASSETS $292,663 LIABILITIES AND STOCKHOLDER S EQUITY Current Liabilities Trade Accounts Payable $189,388 Payroll and Sales Taxes Payable 9,478 Accrued Expenses Payable 740 Total Current Liabilities $199,606 Stockholder s Equity Common Stock 1000 Retained Earnings 92,057 93,057 TOTAL LIABILITIES AND STOCKHOLDER S EQUITY $292,663 See accountants compilation report. Copyright 2008 VR Business Brokers
13 Assets Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Copyright 2008 VR Business Brokers 13
14 Assets (Continued) Fixed Assets Furniture Equipment Vehicles Leasehold Improvements Less Depreciation Total Assets Copyright 2008 VR Business Brokers 14
15 Liabilities Current Liabilities (due within 12 months) Accounts Payable Payroll and Sales Taxes Accrued Expenses Current Portion of Long-Term Liabilities Current Portion of Long-Term Leases Copyright 2008 VR Business Brokers 15
16 Liabilities (Continued) Long-Term Liabilities (exceed 12 months) Equipment loans Capital Leases Loans from Shareholders Total Liabilities Copyright 2008 VR Business Brokers 16
17 Shareholder Equity Stock (Shows # of Shares) Preferred Common Retained Earnings Copyright 2008 VR Business Brokers 17
18 The Two Sections of the Sheet Balance Total Liabilities + Share HolderEquity Total Assets Copyright 2008 VR Business Brokers 18
19 Tax Return & Balance Sheet Tax Returns include a balance sheet page listing all assets and liabilities at the time the tax return completion date. Interim Balance Sheets give a more current value of assets. Offers are usually based on current balance sheet information. Copyright 2008 VR Business Brokers 19
20 Copyright 2008 VR Business Brokers
21 Why Recast a Balance Sheet? To determine a realistic picture of the value of the assets included in a sale and what liabilities come with the business. Book value of assets and fair market value of assets may differ significantly. The greater the assets: The greater the loan you can get The more value the buyer sees in the deal Copyright 2008 VR Business Brokers 21
22 Current Assets Are these current assets included? Cash Receivables Prepaid Expenses Inventory Are there any adjustments to current assets? Copyright 2008 VR Business Brokers 22
23 Inventory The value of the inventory often needs to be adjusted for: Obsolete merchandise Surplus merchandise Unsaleable merchandise Physical inventory vs. book value Sometimes inventory includes Works in Progress Copyright 2008 VR Business Brokers 23
24 Personal Story Seller owned two liquor stores and sold one. The one he sold had a substantial wine section but the wine was stocked upright. Buyer was concerned the wine might be spoiled so the wine was excluded from the sale. The night before the escrow closed the Seller moved the wine to his second store. Buyer had already arranged for new wine to be delivered. Copyright 2008 VR Business Brokers 24
25 Book Value vs. Market Value Balance sheet shows the depreciated value of the furniture, fixtures, and equipment. Depreciation is usually taken at an accelerated rate. Thus market value can be significantly higher than book value. Copyright 2008 VR Business Brokers 25
26 Sample Co. Fixed Assets Fixed Assets (from Balance Sheet) Office Furniture $ 10,363 Machinery & Equipment $143,857 Vehicles $ 42,377 Less Accumulated Deprec. -$ 96,858 Current Book Value $ 99,739 Copyright 2008 VR Business Brokers 26
27 Potential Adjustments to Sample Company s Fixed Assets Auto is not included in sale. What is the Market Value of: Office Furniture Machinery & Equipment When doing a formal valuation you may need to appraise the equipment piece by piece. In most transactions a reasonable estimate will due. What would it cost to buy the equipment in its current condition on the open market? One tip is to adjust the amount of depreciation to reflect the real life of the equipment. Copyright 2008 VR Business Brokers 27
28 The following form was used to recast the balance sheet for Sample Company. Copyright 2008 VR Business Brokers 28
29 RECASTED BALANCE SHEET FORM BUSINESS NAME: Sample Co Date: 05/01/2003 ASSETS Book Value Adjustments Adj. Balance Comments Current Assets Cash 7,937 (7,937) 0 Not Included Accounts Receivable 78,520 (78,520) 0 Not Included Prepaid Expenses & Deposits 53,614 (53,614) 0 Not Included Inventory 52,853-52,853 No Adjustment Total Current Assets 192,914 (140,071) 52,853 Fixed Assets Machinery & Equipment 143, ,857 Vehicles 42,377 (42,377) 0 Not included Furniture 10, ,363 Leasehold Improvements Less Accum. Depreciation (96,858) 50,000 (46,858) *Depreciation was reduced by $50,000 to account for current value of F,F, & E Net Fixed Assets 99,739 7, ,362 TOTAL ASSETS $160,195 Total Adjusted Assets Included in Sale = Adjusted Balance of Current Assets + LIABILITIES Adjusted Balance of Fixed Assets) Current Liabilities Accounts Payable 189,388 (189,388) 0 * Accrued Expense Liabilities 740 (740) 0 * Accrued Tax Liabilities 9,478 (9,478) 0 * Current Portion of L.T. Lease Current portion of L.T. Notes Total Current Liabilities *Seller delivered business Free & Clear of any Liabilities! Notes Payable - No long term - liabilities Capital Leases - Loans from Shareholders - Total Long Term Liabilities 0 0 Total Liabilities Copyright 2008 VR Business Brokers
30 Asset Sale vs. Corporate Sale There are many advantages and disadvantages to selling or buying the assets vs. the corporation. That is not the scope of this class. A good associate must learn the basic reasoning behind the decision to buy or sell the assets vs. the corporation. Copyright 2008 VR Business Brokers 30
31 Asset Sales Buyer buys most of the assets of the company but not the stock of the company The corporation is the seller Typically the Cash is not included. Receivables can be included or excluded Except in cases where assuming a liability may help make a deal, payables and other liabilities are usually not included. Some personal items may not be included Copyright 2008 VR Business Brokers 31
32 Corporate Sales Buyer actually buys the stock of the company and thus becomes the corporation. The Share Holders are the Sellers Most balance sheet items are included Sometimes personal items like the owner s vehicle are excluded. Less than 10% of our sales are corporate sales Copyright 2008 VR Business Brokers 32
33 ANALYZING AND RECASTING WHAT YOU HAVE LEARNED Recast a financial statement for a Typical Company 33
34 ANALYZING AND RECASTING THINK POSITIVE THINK BIG THINK VALUED REPRESENTATION VR HAS SOLD MORE BUSINESSES IN THE WORLD THAN ANYONE 34
Valued Representation. VR is celebrating 32 years of successful business sales through valued representation Valued Representation defines VR.
Valued Representation VR is celebrating 32 years of successful business sales through valued representation Valued Representation defines VR. VR is: VALUED REPRESENTATION Welcome to Volume #6 Course #
More informationAccount Numbering. By separating each account by several numbers, many new accounts can be added between any two while maintaining the logical order.
Chart of Accounts The chart of accounts is a listing of all the accounts in the general ledger, each account accompanied by a reference number. To set up a chart of accounts, one first needs to define
More informationSTATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION. BALANCE SHEET As of
STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION BALANCE SHEET As of ASSETS CURRENT ASSETS Cash and Cash Equivalents Cash - Restricted Accounts Receivable - Trade Accounts Receivable
More informationThe Statement of Cash Flows Direct Method
23 The Statement of Cash Flows Direct Method DEMONSTRATION PROBLEM The financial statements of Bolero Corporation follow. Copyright Houghton Mifflin Company. All rights reserved. 1 Bolero Corporation Income
More informationPROFIT & LOSS BEFORE. INCOME Fleet Income 10 cars $ 75,000 Recommended tip $ 15,000 TOTAL. $ 90,000 PERSONNEL Gross Admin/accounting salaries $ 16,200
PROFIT & LOSS BEFORE INCOME Fleet Income 10 cars $ 75,000 Recommended tip $ 15,000 TOTAL $ 90,000 PERSONNEL Gross Admin/accounting salaries $ 16,200 Payroll taxes benefits processing $ 3,000 CHAUFFEURS
More informationSANYO TRADING COMPANY LIMITED. Financial Statements
Financial Statements Year Ended September 30, 2014 English translation from original Japanese-language documents Balance Sheets As of September 30, 2014 ASSETS Current Assets Cash and deposits US$ 18,509,007
More informationPERSONAL FINANCIAL STATEMENT
PERSONAL FINANCIAL STATEMENT As of, 20 BUSINESS PLAN GUIDELINES Name: Residence Phone: Residence Address: City, State, Zip Code: Social Security Number: PERSONAL ASSETS PERSONAL LIABILITIES Cash in Bank
More informationFinancial Plan. A) Estimated One-Time Financial Requirements. Part One
Financial Plan The Financial Plan is perhaps one of the most important components of your Business Plan (see Business Plan Handout). Not only is it essential if you are seeking external financing it is
More informationFinancial Statements Tutorial
Financial Statement Review: Financial Statements Tutorial There are four major financial statements used to communicate information to external users (creditors, investors, suppliers, etc.) - 1. Balance
More informationSummary of Financial Report for the FY ending March 2015 (Non-Consolidated)
Summary of Financial Report for the FY ending March 2015 (Non-Consolidated) April 30, 2015 Listed Company Name: Japan Tissue Engineering Co., Ltd. Listed Securities Exchange: JQ Stock Code: 7774 URL http://www.jpte.co.jp
More informationBasic Business Plan Outline
Basic Business Plan Outline A business plan needs to be a well thought out, honest, appraisal of the business and opportunity. This outline is meant to be used for your road map. It should be a living
More informationFINANCIAL MANAGEMENT
100 Arbor Drive, Suite 108 Christiansburg, VA 24073 Voice: 540-381-9333 FAX: 540-381-8319 www.becpas.com Providing Professional Business Advisory & Consulting Services Douglas L. Johnston, II djohnston@becpas.com
More informationUnderstanding Financial Statements. For Your Business
Understanding Financial Statements For Your Business Disclaimer The information provided is for informational purposes only, does not constitute legal advice or create an attorney-client relationship,
More informationBROKER FINANCIAL STATEMENTS
The City of New York BUSINESS INTEGRITY COMMISSION 100 Church Street 20th Floor New York New York 10007 Tel. (212) 676-6219 Fax (212) 676-6227 BROKER FINANCIAL STATEMENTS 2014 REGISTRANT NAME REGISTRATION
More informationBUSINESS FINANCIAL STATEMENT. Limited Liability Company Partnership Corporation Other. Statement of Financial Condition as of, 20 for the period, to,
BUSINESS FINANCIAL STATEMENT Name of Business Applicant Prepared By Title (Position) Limited Liability Company Partnership Corporation Other Statement of Financial Condition as of, 20 for the period, to,
More informationHow To Balance Sheet
Page 1 of 6 Balance Sheet Accounts The Chart of Accounts is normally arranged or grouped by the Major Types of Accounts. The Balance Sheet Accounts (Assets, Liabilities, & Equity) are presented first,
More informationChart of Accounts for JD Edwards EnterpriseOne (Oracle Business Accelerators North America) An Oracle White Paper January 2008
Chart of Accounts for JD Edwards EnterpriseOne (Oracle Business Accelerators North America) An Oracle White Paper January 2008 PURPOSE STATEMENT THIS DOCUMENT PROVIDES AN OVERVIEW OF FEATURES AND ENHANCEMENTS
More information! "#$ %&!& "& ' - 3+4 &*!&-.,,5///2!(.//+ & $!- )!* & % +, -).//0)& 7+00///2 *&&.4 &*!&- 7.00///2 )!*.//+ 8 -!% %& "#$ ) &!&.
! "#!""#$%$#$#$"& $'"()*+,$-).,/ 012! "#$ %&!& "& '!(&)!*&%+,-).//0 -#$#3-4' &,'1$1# $!-!(.//0)& +01+///2 *&& - 3+4 &*!&-.,,5///2!(.//+ &!(!-6%(!(.//.$(!(.//0)& 01,///2 //+2% &*!&- 5,0///2 //32%!(.//+
More information3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS
3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS (1) Consolidated Quarterly Balance Sheets September 30, 2014 and March 31, 2014 Supplementary Information 2Q FY March 2015 March 31, 2014 September 30, 2014
More informationFinancial Statement Preparation Webinar. Presented by Nick Chapman VEI Program Coordinator New York City
Financial Statement Preparation Webinar Presented by Nick Chapman VEI Program Coordinator New York City 122 Amsterdam Ave. New York, NY 10023 Phone: 212-769-2710 www.veinternational.org Objectives: Review
More informationOREGON HEALTH MANAGEMENT SERVICES AND SUBSIDIARY
CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION For the Years Ended December 31, 2014 and 2013 CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION For the Years Ended December
More informationWorksheet GL Beginning Balances and Chart of Accounts Setup
ASSETS Enter credit balances preceded by a minus (-) sign in this column. 11110000 Petty Cash 11120000 Premium Trust Account 11130000 Operating Account 1 11140000 Operating Account 2 11150000 Interbank
More informationSAMPLE CONSTRUCTION COMPANY. FINANCIAL STATEMENT AND SUPPLENTARY INFORMANTION For the Year Ended December 31, 2011
FINANCIAL STATEMENT AND SUPPLENTARY INFORMANTION For the Year Ended December 31, 2011 The financial statement, prepared by an independent Certified Public Accountant, is essential for bonding purposes.
More informationTRANSACTIONS ANALYSIS EXAMPLE. Maxwell Partners Medical Diagnostic Services report the following information for 2011, their first year of operations:
TRANSACTIONS ANALYSIS EXAMPLE Maxwell Partners Medical Diagnostic Services report the following information for 2011, their first year of operations: 1. Billings to clients for services provided: $350,000
More informationHow To Read The Financial Results Of 20Xx And 200X
Name SAMPLE Financial Statements December 31, 20XX CPA Accounting Firm Name Table of Contents Page Accountant s Review Report 1 Financial Statements Balance Sheet 2 Income Statement 3 Schedule of General
More informationSAMPLE CONSTRUCTION FINANCIAL STATEMENT
SAMPLE CONSTRUCTION FINANCIAL STATEMENT Construction Contacts: Tim Klimchock, CPA, CCIFP Manager, AEC Industry Group M. Scott Hursh, CPA, CCIFP Principal, AEC Industry Group 1.800.745.8233 Web Site: www.stambaugh-ness.com
More information1 of2. PetroQuest Resources, Inc. Consolidated Balance Sheet (Unaudited) Three Months Ended March 31, 2008. Year Ended December 31,2007.
1 of2 Consolidated Balance Sheet (Unaudited) ASSETS Cash March 31, 2008 27,825.59 Year Ended December 31,2007 22,649.19 Accounts Receivable 109,634.04 121,085.25 Other Current Assets Cash Bond ryvv Dept
More informationGeckoSystems International Corporation. Financial Statements (For Period Ending June 30, 2013)
Financial Statements (For Period Ending June 30, 2013) Balance Sheet As of June 30, 2013 (Unaudited) Assets Current assets: Cash $ 18,245 Cash equivalents 525,000 Supply inventory (frames, motors, electronics,
More informationUNITED STATES BANKRUPTCY COURT NORTHERN & EASTERN DISTRICTS OF TEXAS REGION 6 MONTHLY OPERATING REPORT
ACCRUAL BASIS JUDGE: UNITED STATES BANKRUPTCY COURT NORTHERN & EASTERN DISTRICTS OF TEXAS REGION 6 MONTHLY OPERATING REPORT MONTH ENDING: MONTH YEAR IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED
More informationEXERCISES. Does not normally require adjustment. Normally requires adjustment (AE).
EXERCISES Ex. 3 1 1. Prepaid expense 2. Accrued revenue 3. Unearned revenue 4. Accrued expense 5. Unearned revenue 6. Prepaid expense 7. Accrued expense 8. Accrued expense Ex. 3 2 Account Accounts Receivable...
More informationSOLUTIONS. Learning Goal 15
Learning Goal 15: Prepare a Classified S1 Learning Goal 15 Multiple Choice 1. b 2. c 3. a 4. b 5. d 6. a 7. c Their importance in paying current liabilities is the main reason current assets are shown
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended
More informationConsolidated Financial Statements (For the fiscal year ended March 31, 2013)
Consolidated Financial Statements (For the fiscal year ended ) Consolidated Balance Sheets Current assets: Cash and deposits Other Assets Notes receivable, accounts receivable from completed construction
More informationConsolidated Interim Earnings Report
Consolidated Interim Earnings Report For the Six Months Ended 30th September, 2003 23th Octorber, 2003 Hitachi Capital Corporation These financial statements were prepared for the interim earnings release
More informationBUSINESS LOAN APPLICATION
BUSINESS LOAN APPLICATION One Commerce Park P. O. Box 160 Shallowater,Texas 79363 Phone - 806.832.4525 Fax - 806.832.5849 EMAIL ADDRESS - MARK@FSBSHALLOWATER.COM Page 9 of 23 Commercial Loan Application:
More informationPART 5. External Reporting and Performance Evaluation. Statements of financial performance and position. Statement of cash flows 19
PART 5 External Reporting and Performance Evaluation Statements of financial performance and position 18 Statement of cash flows 19 Analysis and interpretation of financial statements 20 CHAPTER 18 Statements
More informationAAA PUBLIC ADJUSTING GROUP, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [ X] QUARTERLY REPORT PURSUANT TO SECTION 13 OF 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended
More informationBALANCE SHEET CHART OF ACCOUNTS FOR TRADING PARTICIPANTS
CHART OF ACCOUNTS FOR TRADING PARTICIPANTS ASSETS 1000000-1999999 1 1 0 0 0 0 0 Current Assets 1 1 0 1 0 0 0 Cash and Cash Equivalents 1 1 0 1 1 0 0 Cash on Hand 1 1 0 1 1 1 0 Petty Cash Fund 1 1 0 1 1
More information* * * Chapter 15 Accounting & Financial Statements. Copyright 2013 Pearson Education, Inc. publishing as Prentice Hall
Chapter 15 Accounting & Financial Statements Copyright 2013 Pearson Education, Inc. publishing as Prentice Hall Bookkeeping vs. Accounting Bookkeeping Accounting The recording of business transactions.
More informationKYODO PRINTING CO., LTD. and Consolidated Subsidiaries
KYODO PRINTING CO., LTD. and Consolidated Subsidiaries Interim Consolidated Financial Statements (Unaudited) for the, Interim Consolidated Balance Sheets, as compared with March 31, (Unaudited) ASSETS,
More informationINDEX TO FINANCIAL STATEMENTS. Balance Sheets as of June 30, 2015 and December 31, 2014 (Unaudited) F-2
INDEX TO FINANCIAL STATEMENTS Page Financial Statements Balance Sheets as of and December 31, 2014 (Unaudited) F-2 Statements of Operations for the three months ended and 2014 (Unaudited) F-3 Statements
More information12 Business Information (Green Sheet)
Give us COPIES only Clips only - NO STAPLES 12 Business Information (Green Sheet) If you are self-employed, or if you have had income for which you do not receive a W-2, please provide the following: A.
More information2-8. Identify whether each of the following items increases or decreases cash flow:
Problems 2-8. Identify whether each of the following items increases or decreases cash flow: Increase in accounts receivable Increase in notes payable Depreciation expense Increase in investments Decrease
More informationState of New Jersey Department of Banking & Insurance. Annual Report Worksheet for Foreign Money Transmitters. Year Ending December 31, 2012
State of New Jersey Department of Banking & Insurance for Foreign Money Transmitters New Jersey Department of Banking & Insurance Division of Banking Attn: Kristen Graham 5 th floor 20 West State Street
More informationFinancial. Management FOR A SMALL BUSINESS
Financial Management FOR A SMALL BUSINESS 1 Agenda Welcome, Pre-Test, Agenda, and Learning Objectives Benefits of Financial Management Budgeting Bookkeeping Financial Statements Business Financing Key
More informationChapter 4: Liquor Store Business Valuation
Chapter 4: Liquor Store Business Valuation In this section, we will utilize three approaches to valuing a liquor store. These approaches are the: (1) cost (asset based), (2) market, and (3) income approach.
More informationCash Flow Forecasting & Break-Even Analysis
Cash Flow Forecasting & Break-Even Analysis 1. Cash Flow Cash Flow Projections What is cash flow? Cash flow is an estimate of the timing of when the cash associated with sales will be received and when
More informationCHAPTER 12 ACCRUALS, DEFERRALS, AND THE WORKSHEET
CHAPTER 12 ACCRUALS, DEFERRALS, AND THE WORKSHEET Chapter Opener: Thinking Critically Students may assess that an unexpected decline in sales would mean surplus inventory which would have to be reduced
More informationTITAN MEDICAL INC. Unaudited Condensed Interim Financial Statements Three and Six Months Ended June 30, 2013 and 2012
Unaudited Condensed Interim Financial Statements Three and and 2012 Unaudited Condensed Interim Balance Sheets As at June 30, 2013 and December 31, 2012 ASSETS CURRENT June 30, 2013 December 31, 2012 Cash
More informationNorth Carolina s Reference to the Internal Revenue Code Updated - Impact on 2015 North Carolina Corporate and Individual income Tax Returns
June 3 2016 North Carolina s Reference to the Internal Revenue Code Updated - Impact on 2015 North Carolina Corporate and Individual income Tax Returns Governor McCrory signed into law Session Law 2016-6
More informationSummary of Consolidated Financial Results for the Year Ended March 31, 2016 (Based on Japanese GAAP)
Translation Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the
More informationVol. 1, Chapter 3 - Accounting Adjustments
Vol. 1, Chapter 3 - Accounting Adjustments Problem 1 1. ($20,000 2,000) 48 = $375 per month 2. Jan. 31 Depreciation Expense $375 Accumulated Depreciation Van $375 To record depreciation expense for January
More informationout Chart of Accounts. for the MPC
Chart of Accounts for the MPC A Chart of Accounts is a listing of all the accounts in the General Ledger. It represents the organization of the business s financial records. Each account functions like
More informationUnderstanding Basic Financial Statements
Understanding Basic Financial Statements During the accounting cycle, the accounting system is used to track, organize and record the financial transactions of an organization. At the close of each period,
More informationTITAN MEDICAL INC. Unaudited Condensed Interim Financial Statements Three Months Ended March 31, 2016 and 2015 (IN UNITED STATES DOLLARS)
Unaudited Condensed Interim Financial Statements and 2015 (IN UNITED STATES DOLLARS) Unaudited Condensed Interim Balance Sheets As at March 31, 2016 and December 31, 2015 ASSETS CURRENT March 31, 2016
More informationCONVENTIONAL / SBA LOAN APPLICATION BUSINESS LOAN APPLICATION CHECKLIST
CONVENTIONAL / SBA LOAN APPLICATION BUSINESS LOAN APPLICATION CHECKLIST Please use this checklist as a guide to the documentation necessary to complete the processing of your business loan. If certain
More informationA PRACTICAL GUIDE TO WRITING A BUSINESS PLAN
A PRACTICAL GUIDE TO WRITING A BUSINESS PLAN Louisiana Small Business Development Center At Southeastern Louisiana University 1514 Martens Drive Hammond, LA 70401 Phone: (985) 549-3831 Fax: (985) 549-2127
More informationChart of Accounts. Chart of Accounts
Chart of Accounts A company s Chart of Accounts is a list of all Asset, Liability, Equity, Revenue, and Expense accounts included in the company s General Ledger. The number of accounts included in the
More informationStormGeo, Inc. and Subsidiary Consolidated Financial Statements December 31, 2012 StormGeo, Inc. and Subsidiary December 31, 2012 Table of Contents Page Independent Auditors Report... 1-2 Consolidated
More informationHow To Write A Report On The Unaudited Accounts Of A Sole Trader
Accounts 31 December 2007 Approval statement I approve these accounts which comprise the Profit and Loss Account, Balance Sheet and related notes. I acknowledge my responsibility for the accounts, including
More informationSample Test for entrance into Acct 3110 and Acct 3310
Sample Test for entrance into Acct 3110 and Acct 3310 1. Which of the following financial statements could properly have the following in the date line: For the Year Ended December 31, 2010"? a. Balance
More informationACCOUNTING 105 CONCEPTS REVIEW
ACCOUNTING 105 CONCEPTS REVIEW A note from the tutors: This handout is designed to help you review important information as you study for your cumulative final exam. While it does cover many important
More informationHow To Calculate A Trial Balance For A Company
THE BASIC MODEL The accounting information system is designed to collect and organize data into information that is useful for stakeholders. The Accounting Equation The basic accounting equation is what
More informationBUSINESS LOAN APPLICATION
BUSINESS LOAN APPLICATION 1. Applicant Name: Name of Business: Sole Proprietorship: S Corporation: Partnership: C Corporation: LLC/LLP: Mailing Address: Street Address: Business Telephone: Home Telephone:
More informationThe Sumitomo Warehouse Co., Ltd.
Consolidated Financial Results for the Year Ended March 31, 2014[ Japan GAAP ] May 13, 2014 The Sumitomo Warehouse Co., Ltd. Securities code: 9303 Stock exchange listings: URL: Representative: Inquiries:
More informationROMANO BROTHERS AND COMPANY
STATEMENT OF FINANCIAL CONDITION INDEPENDENT AUDITORS REPORT To the Stockholders of Romano Brothers and Company: We have audited the accompanying statement of financial condition of Romano Brothers and
More informationConsolidated Financial Results for Fiscal Year 2013 (April 1, 2013 March 31, 2014)
Consolidated Financial Results for Fiscal Year 2013 (April 1, 2013 March 31, 2014) 28/4/2014 Name of registrant: ShinMaywa Industries, Ltd. Stock Exchange Listed: Tokyo Code number: 7224 (URL: http://www.shinmaywa.co.jp
More informationBusiness Loan Application
FSM Development Bank Business Loan Application For An Existing Business (Requirements and Checklist at the back of the form) FSM DEVELOPMENT BANK LOAN APPLICATION FORM PART A: PERSONAL INFORMATION 1.Name
More informationWONG GLOBEWIDE PROPERTY INVESTMENTS CORPORATION WGPIC. Commercial Loan Application. Need Help! Please call 213-618-6611 Ask for JC
WONG GLOBEWIDE PROPERTY INVESTMENTS CORPORATION WGPIC Commercial Loan Application Need Help! Please call 213-618-6611 Ask for JC Or Efax 866-612-9898 Or Email: Info@WGPIC.com (please answer all questionnaires
More informationS Corporation Tax Organizer
S Corporation Tax Organizer CLIENT INFORMATION S Corporation Name: Email: Date of Incorporation: EIN#: Best Phone#: Corporate Address: Tax Period City: State: ZIP Code: What date was the corporation first
More informationDTS CORPORATION and Consolidated Subsidiaries. Unaudited Quarterly Consolidated Financial Statements for the Three Months Ended June 30, 2008
DTS CORPORATION and Consolidated Subsidiaries Unaudited Quarterly Consolidated Financial Statements for the Three Months Ended June 30, 2008 DTS CORPORATION and Consolidated Subsidiaries Quarterly Consolidated
More informationCourse pack Accounting 202 Chapter 13: Cash Flow Statement
Course pack Accounting 202 Chapter 13: Cash Flow Statement Value Chapter Included 13 Purpose of Cash Flow Understand Operating, Investing, Financing activities Prepare a Cash Flow Statement indirect only
More informationMIDTERM EXAMINATION. Afaaq_tariq@yahoo.com. Fall 2009
MIDTERM EXAMINATION Afaaq_tariq@yahoo.com Fall 2009 FIN621- Financial Statement Analysis Asslam O Alikum FIN621- Financial Statement Analysis (Session 3) solved by Afaaq n Shani Bhai with reference n numerical
More informationBusiness Plan Guide. NYS Small Business Development Center. Small Business Development Center. Farmingdale State College
NYS Small Business Development Center Farmingdale State College Business Plan Guide Small Business Development Center The SBDC is a program supported by the U.S. Small business administration and extended
More informationAccounting 300A-10A The Operating Cycle: Worksheet/Closing Entries Page 1
Accounting 3A-1A The Operating Cycle: Worksheet/Closing Entries Page 1 THE WORKSHEET and CLOSING ENTRIES I. Review of Key Concepts and Terms: A. The purpose of the worksheet 1. To show that the accounts
More informationFINANCIAL REPORTING GUIDELINES
FINANCIAL REPORTING GUIDELINES These policies support and extend COMTA Accreditation Standard XII. As such, institutions must demonstrate compliance to both. STATEMENT OF PURPOSE: All new institutional
More informationInstructions for E-PLAN Financial Planning Template
Instructions for E-PLAN Financial Planning Template The EPLAN template will assist you in preparing financial projections for your existing business. The template uses Microsoft Excel to prepare your projected
More informationSUMMARY OF CONSOLIDATED BUSINESS RESULTS for the nine months ended December 31, 2012
SUMMARY OF CONSOLIDATED BUSINESS RESULTS for the nine months ended December 31, 2012 February 8, 2013 ARRK Corporation 2-2-9 Minami Hommachi, Chuo-ku, Osaka, 541-0054, JAPAN 1. Consolidated financial results
More informationSmall Company Limited. Report and Accounts. 31 December 2007
Registered number 123456 Small Company Limited Report and Accounts 31 December 2007 Report and accounts Contents Page Company information 1 Directors' report 2 Accountants' report 3 Profit and loss account
More informationBusiness Start Up Basics III
Business Start Up Basics III Intro to Accounting Presented by: Suzie Dills SBDC Business Consultant Agenda Key Objectives of the Course Brief History & Definition of Accounting General Ledger Double Entry
More informationAccrual vs Deferral Accrual vs Cash Basis
1 - Accrual vs Deferral Accrual vs Cash Basis - understanding debits and credits a transaction either increases or decreases the balance of accounts. increases and decreases in accounts are based on the
More informationNorth Carolina s Reference to the Internal Revenue Code Updated - Impact on 2015 North Carolina Corporate and Individual income Tax Returns
June 3 2016 North Carolina s Reference to the Internal Revenue Code Updated - Impact on 2015 North Carolina Corporate and Individual income Tax Returns Governor McCrory signed into law Session Law 2016-6
More informationState of Idaho - Public Works Contractor Licensing MULTI-PURPOSE BALANCE SHEET (For Class D and C Licenses Only)
State of Idaho - Public Works Contractor Licensing MULTI-PURPOSE SHEET (For Class D and C Licenses Only) Instructions: Complete only the sections that pertain to your company structure. Do not include
More information===============================
Business Plan Pages: 09 Work Al. Izzi / 131 Ellison Street / Paterson / 973-754-8695 / Correo Electronico izzaji@aol.com =============================== Cover Sheet Business Plan Begin the Plan with a
More informationChart of Accounts for Banks
Chart of Accounts for Banks ASSETS Cash and Cash Equivalents 1 0 0 1 Cash in vault 1 0 0 2 Cash in ATM 1 0 0 3 Cash in transit 1 0 0 4 Damaged notes 1 0 0 5 Travellers cheques 1 0 0 6 Items for collection:
More informationAnadolu Hayat Emeklilik Anonim Şirketi Consolidated Balance Sheet As At 31 December 2015 (Currency: Turkish Lira (TRY))
Consolidated Balance Sheet As At ASSETS I- Current Assets A- Cash and Cash Equivalents 14 302,999,458 216,428,429 1- Cash 14 3,385 27,952 2- Cheques Received 3- Banks 14 145,598,543 87,301,020 4- Cheques
More informationHOME PRODUCT CENTER PUBLIC COMPANY LIMITED BALANCE SHEETS AS AT DECEMBER 31, 2003 AND 2002
BALANCE SHEETS AS AT DECEMBER 31, 2003 AND 2002 Assets Note 2003 Baht 2002 Current assets Cash and cash equivalents 2 36,291,871.62 84,051,092.97 Accounts receivable - net 3 121,235,696.40 140,699,262.83
More informationEHDOC Robert Sharp Towers II Limited Partnership (A Florida Limited Partnership) Financial Report October 31, 2014
EHDOC Robert Sharp Towers II Limited Partnership Financial Report October 31, 2014 Contents Independent Auditor's Report 1 Financial Statements Balance sheet 2 3 Statement of income 4 Statement of changes
More informationAudited Prior Period 31 December 2014
As at ASSETS I- Current Assets A- Cash and Cash Equivalents 202.531.176 216.428.429 1- Cash 5.603 27.952 2- Cheques Received 3- Banks 49.703.075 87.301.020 4- Cheques Given and Payment Orders (31.536)
More informationBrief Report on Closing of Accounts (connection) for the Term Ended March 31, 2007
MARUHAN Co., Ltd. Brief Report on Closing of (connection) for the Term Ended March 31, 2007 (Amounts less than 1 million yen omitted) 1.Business Results for the term ended on March, 2007 (From April 1,
More informationExam 1 chapters 1-4 Needles 10ed
Exam 1 chapters 1-4 Needles 10ed Multiple Choice Identify the choice that best completes the statement or answers the question. 1. Which of the following is the most appropriate definition of accounting?
More informationBusiness Loan Application
FSM Development Bank Business Loan Application For A New Business (Requirements and Checklist at the back of the form) FSM DEVELOPMENT BANK LOAN APPLICATION For New Enterprises: Less than 2 Years Profit
More informationAccounting Principles Critical to Success Presented By: C. P. Krishnan. www.cakintl.com
Accounting Principles Critical to Success Presented By: C. P. Krishnan Basic Accounting You Need to Know Assets, Liabilities, Equity, Income, & Expenses Assets Includes what you have and what people owe
More informationHow to Prepare a Cash Flow Forecast
The Orangeville & Area Small Business Enterprise Centre (SBEC) 87 Broadway, Orangeville ON L9W 1K1 519-941-0440 Ext. 2286 or 2291 sbec@orangeville.ca www.orangevillebusiness.ca Supported by its Partners:
More informationFREEDOM INVESTMENTS, INC. STATEMENT OF FINANCIAL CONDITION AS OF JUNE 30, 2015 (UNAUDITED)
FREEDOM INVESTMENTS, INC. STATEMENT OF FINANCIAL CONDITION AS OF JUNE 30, 2015 (UNAUDITED) ****** Index Page(s) Statement of Financial Condition. 2 Notes to Statement of Financial Condition. 3-5 Statement
More informationAccounting Norms and Principles January 7, 2003
1 Accounting Norms and Principles January 7, 2003 The purpose of an accounting system is to provide credit union management with complete and accurate financial information that can be used to operate
More informationSBA Loan Checklist. Ownership Information. Site Information. Business Information
SBA Loan Checklist Ownership Information Completed Credit Application Completed Personal Financial Statement (for each owner) 3 Years Personal Federal Tax Returns (for each owner) Management Profile (form
More informationBusiness Plan. In completing the following proposal provide as much detailed information as possible.
Business Plan A business plan is an integral part of a financing request. It is an introduction to your business, and it provides us with the initial information that we require to start to an application.
More informationSouth Eastern Economic Development SEED Corporation
South Eastern Economic Development SEED Corporation 80 Dean Street (Route 44), Taunton, MA 02780 SEED is a non profit finance corporation certified and accredited by the U.S. Small Business Administration
More informationLearning Objectives: Quick answer key: Question # Multiple Choice True/False. 14.1 Describe the important of accounting and financial information.
0 Learning Objectives: 14.1 Describe the important of accounting and financial information. 14.2 Differentiate between managerial and financial accounting. 14.3 Identify the six steps of the accounting
More information