the worksheet baf3m: chapter 4 unit 9 a worksheet is not a formal financial statement; it’s a tool...
TRANSCRIPT
![Page 1: The Worksheet BAF3M: Chapter 4 Unit 9 A worksheet is not a formal financial statement; it’s a tool accountants can use to complete the last stages of the](https://reader036.vdocuments.us/reader036/viewer/2022082613/5697bfd11a28abf838cab0c0/html5/thumbnails/1.jpg)
The WorksheetThe Worksheet
BAF3M: Chapter 4 Unit 9 BAF3M: Chapter 4 Unit 9
A worksheet is not a formal financial statement; it’s a tool accountants can use to complete the last stages of the accounting cycle. That means the public never
sees a company’s worksheets.
![Page 2: The Worksheet BAF3M: Chapter 4 Unit 9 A worksheet is not a formal financial statement; it’s a tool accountants can use to complete the last stages of the](https://reader036.vdocuments.us/reader036/viewer/2022082613/5697bfd11a28abf838cab0c0/html5/thumbnails/2.jpg)
Why is it used?Why is it used?
• It’s useful because it contains information for all of the last steps of the accounting cycle, all in one place.
• This simplifies the completion of the cycle, and makes finding errors and discrepancies even easier.
• It’s useful because it contains information for all of the last steps of the accounting cycle, all in one place.
• This simplifies the completion of the cycle, and makes finding errors and discrepancies even easier.
![Page 3: The Worksheet BAF3M: Chapter 4 Unit 9 A worksheet is not a formal financial statement; it’s a tool accountants can use to complete the last stages of the](https://reader036.vdocuments.us/reader036/viewer/2022082613/5697bfd11a28abf838cab0c0/html5/thumbnails/3.jpg)
QuickTime™ and a decompressor
are needed to see this picture.
![Page 4: The Worksheet BAF3M: Chapter 4 Unit 9 A worksheet is not a formal financial statement; it’s a tool accountants can use to complete the last stages of the](https://reader036.vdocuments.us/reader036/viewer/2022082613/5697bfd11a28abf838cab0c0/html5/thumbnails/4.jpg)
What Does It Look Like?What Does It Look Like?• If you look at the completed worksheet shown below, you can see that there are four sections (two columns in each). From left to right they are:
• 1. Trial Balance• 2. Adjustments• 3. Income Statement• 4. Balance Sheet
• If you look at the completed worksheet shown below, you can see that there are four sections (two columns in each). From left to right they are:
• 1. Trial Balance• 2. Adjustments• 3. Income Statement• 4. Balance Sheet
![Page 5: The Worksheet BAF3M: Chapter 4 Unit 9 A worksheet is not a formal financial statement; it’s a tool accountants can use to complete the last stages of the](https://reader036.vdocuments.us/reader036/viewer/2022082613/5697bfd11a28abf838cab0c0/html5/thumbnails/5.jpg)
Worksheet ExampleWorksheet Example
QuickTime™ and a decompressor
are needed to see this picture.
![Page 6: The Worksheet BAF3M: Chapter 4 Unit 9 A worksheet is not a formal financial statement; it’s a tool accountants can use to complete the last stages of the](https://reader036.vdocuments.us/reader036/viewer/2022082613/5697bfd11a28abf838cab0c0/html5/thumbnails/6.jpg)
Important HintsImportant Hints
• IMPORTANT HINT: The net income figure, as well as every single individual account balance on your worksheet MUST agree with the account balances on your formal:
1. Income Statement;
2. Balance Sheet;
3. Adjusting and closing journal entries.
If they don’t, you have made a mistake!
• IMPORTANT HINT: The net income figure, as well as every single individual account balance on your worksheet MUST agree with the account balances on your formal:
1. Income Statement;
2. Balance Sheet;
3. Adjusting and closing journal entries.
If they don’t, you have made a mistake!
![Page 7: The Worksheet BAF3M: Chapter 4 Unit 9 A worksheet is not a formal financial statement; it’s a tool accountants can use to complete the last stages of the](https://reader036.vdocuments.us/reader036/viewer/2022082613/5697bfd11a28abf838cab0c0/html5/thumbnails/7.jpg)
PracticePractice
SSD: How to make a worksheet
(HTML document)
SSD: How to make a worksheet
(HTML document)