Sabitlenmiş Tweet
TheEquityWinger
6.3K posts
TheEquityWinger retweetledi
If you are just resuming as a Finance Manager and need help on a simple approach to preparing a management account.
There you have it.
Iwelabi@Iwelabi1
Just a random thought on a simple approach to preparing a management account from scratch: 1. Get the bank statement and analyse the same. - At first, focus on analysing the cash movement only. - Categorise them between inflows and outflows - Create different account heads (e.g revenue, cost of sales, transportation, electricity, etc) based on frequency of transactions - Use pivot to create ledgers and subsequently create your trial balance - Ensure your trial balance balances (Dr - Cr = 0) 2. Introduce an "Adjustments" column in your trial balance (i.e., you should have 3 columns at the end: Trial Balance, Adjustments, Adjusted Trial Balance). - Time to consider Non-Cash items. Ask a couple of questions: - Was all revenue paid for and earned during the period? If all is paid for and earned, fine. If not, recognise receivable for the part of revenue that was earned but cash wasn't received for. Likewise, for those cash inflows relating to revenues that were received but services weren't rendered or goods weren't delivered during the period, you should recognise "contract liability." - What about the assets used during the year of operations? Did the company purchase any assets? Get info about this and create a PPE policy to depreciate the assets. This should be for both tangible and intangible assets. - Ask if there were any services/goods enjoyed during the period for which payments were not made. Recognise the payable on this. Also, often times, directors spend money on behalf of the business. Ask and recognise the payable, too. - Pass journals for all the non-cash items and ensure the movement in your journal balances, as well as your adjustment column in your TB. - Get the CAC document to know share capital for the period and get info on paid share capital. Recognise a Credit as necessary. The debit follows whatever you find out—whether the share capital was paid for directly or funded through other means. 3. Balance the Adjusted TB. 4. Prepare your 3 statements as simple as follows: - Income Statement: Revenue, COGS, Gross Profit, Other Income, OPEX, EBITDA, EBIT, and Net Income - Statement of Financial Position: NCA, Current Assets, Total Assets, Equity, NCL, Current Liability, Total Equity and Liability - Statement of Cash Flow: Operating Activities, Investing Activities, Financing Activities, Opening Cash Balance, Changes during the year, and Closing Cash Balance Following the above, you should be able to confidently build a simple 3-financial statement from scratch. Cheers, #Iwelabi.
English
TheEquityWinger retweetledi
TheEquityWinger retweetledi
@FabrizioRomano @MarioCortegana Arbeloa knows how to use Garcia.
Garcia also wants consistent playing time.
I don't see anything stopping this deal from happening bar Jose
English
teams i want us to completely destroy both home and away next season:
brighton
Sunderland
Manchester united
Arsenal
English
thomas frank dealt with spurs last season 😂😂
almost destroyed that club
English
TheEquityWinger retweetledi
Szoboszlai and VAR two things that can never meet 😂
Magyar
raya and garcia sat on the bench throughout this world cup.
they were the best keepers in their respective leagues but yet de la Fuente stuck to his guts.
fairs
English
@Tunde_Blakcfc real o
as a player if madrid calls, you have to pick
English
You just can’t compete with Real Madrid when it comes to transfer talks
Ben Jacobs@JacobsBen
🚨 BREAKING: Real Madrid reach an agreement in principle with Leipzig for Yan Diomande. Player already has terms in place on a five-year contract.🇨🇮 🤝 @alex_crook
English
TheEquityWinger retweetledi
@Tunnykvng I just have a great feeling about this season, everthing seems to be going the right direction.
English
TheEquityWinger retweetledi
TheEquityWinger retweetledi
correct me if im wrong
but i believe enzo is the biggest player in our team.
palmer follows closely
English
TheEquityWinger retweetledi
Neto to Saudi? Yes please!
£70-80m? HELL YES PLEASE!
They’re also willing to pay him £375k a week 😳
Pedro think of your life… 🤣
English
TheEquityWinger retweetledi
