Reporting and close
Income statement, balance sheet, cash flow, footnotes, materiality. The financials your CFO actually publishes.
5 hands-on lessons in this topic. Read each one free, then practice it on a real double-entry ledger in the lab.
- Lesson 76
Constructing the income statement
Revenue, cost of revenue, opex, EBITDA, net income, all from your ledger.
- Lesson 77
Balance sheet at a point in time
Assets, liabilities, equity. The 'where you stand right now' query.
- Lesson 78
The cash flow statement
Income statement shows profit. Balance sheet shows position. Only cash flow shows whether you'll survive next month.
- Lesson 79
Footnotes and disclosures: the story the numbers don't tell
Three numbers on the income statement. Three pages of footnotes explaining them.
- Lesson 80
Materiality: the threshold below which auditors don't sweat
Misstating ₦100 isn't a big deal. Misstating ₦100K is.