Financial Statement Portraits: Are You Over Exposed?

What do photography and business financial statements have in common?  Each captures an image; landscapes for digital artists and financial landscapes for business executives.

Clay accounting tokens, Susa, Uruk period.

Image via Wikipedia

Financial statements are either snapshots or time lapsed accounting images. The balance sheet captures a moment in time during the accounting cycle, usually the end of the month, quarter or fiscal year. Assets (i.e. current, liquid, illiquid, fixed, intangibles, etc.), Liabilities (i.e. current, short-term, long-term, etc.), and owner equity (i.e. retained earnings, initial investment, additional capital, etc.) accounts show the balance at the end of the accounting period.

The income statement and cash flow statement show all activity during a period of time whether a month, quarter, year or some other time period.  A sort of time lapsed photographic image of an accounting cycle.

Get to know your financial images and appreciate the beauty of your balance sheet, income statement and cash flow statement.

Advertisements

About Michael Shelton

Your Business Coach Facilitating Delegation and Work Group Engagement Michael Shelton has over twenty-five years of business and military accomplishments, including extensive experience with one of the largest, publicly traded real estate investment trusts (REIT). He is a qualified business coach with assignments in cross-functional work group management, strategic planning, unit leadership, joint venture acquisitions, executive education, mentoring, training and merger integration. Michael has accumulated best practices for building committed work groups from more than $4 billion of capital markets transactions and commercial property development. He served as a commissioned officer and helicopter pilot in the U.S. Army, and earned his MBA from The University of Arizona. Michael has served as a major conference panelist and is the author of Cash Flow Rich, Winning Ways to Evaluate and Finance Real Estate. Today, he helps business owners get more work group engagement as President and CEO of Shelton Business Services, LLC in Scottsdale, Arizona. Disclaimer: I don't offer investment, legal or tax advice. Talk to your broker, accountant or lawyer for investment, tax and legal help. I might own stock in the companies I mention on-line. My posts, tweets and other on-line activity are my personal thoughts and don't represent my employer or company.
This entry was posted in Accounting and Bookkeeping, Executive Coaching, Management Consulting and tagged , , , , , , , . Bookmark the permalink.

One Response to Financial Statement Portraits: Are You Over Exposed?

  1. Pingback: The Best Ways to Get a Business Finance and Accounting Education | Borrowing Money: Your Handy Guide

Comments are closed.