Lesson 1 / 5 · 8 min · take your time
Three stories of the same firm
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Board 01
Three stories of the same firm
A U.S. listed company tells the year in three tables. The income statement is the movie of sales and what was left. The balance sheet is a still photo of what it owns and owes on one date. The cash-flow statement is the diary of cash actually moving. They are required to fit together. When they do not feel like they fit, that is a clue, not a nuisance.
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A U.S. listed company tells the year in three tables. The income statement is the movie of sales and what was left. The balance sheet is a still photo of what it owns and owes on one date. The cash-flow statement is the diary of cash actually moving. They are required to fit together. When they do not feel like they fit, that is a clue, not a nuisance.
You are not trying to become an auditor. You are trying to treating a as the record. “Record profit” can sit next to weak cash. “Fortress balance sheet” can sit next to a near-term bill. The three tables keep each other honest.
This classroom does not host filings. The company’s investor page and the SEC’s public site do. We teach the words so that when you open the document you are not lost in the first minute.
Foreign issuers use different forms. The ideas — sold, owned, cash moved — still travel. The labels shift. Slow down at the labels.
See it on the board: Apple
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