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Level 4 Diploma in Business Management

Different financial statements and what each one shows

BM404 · Finance and Accounting — Week 4 of 16

CourseBM404
Week4 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Different financial statements and what each one shows

  1. Balance sheets
  2. Income statements
  3. Cashflow statements
  4. Statement of shareholder equity
  5. P and L statement

What you will be able to do

  • 2.1 Differentiate between different financial statements.

Activity

Start with this week’s video, then discuss how they apply to this week’s topic and note one example from a real business.

Study materials

Videos

  • Percentage profit and loss · Oak National Academy, Key Stage 4 (GCSE level) · for registered students

Further resources

  • Principles of Accounting Vol. 1, ch. 2.1–2.3: The financial statements · PDF · OpenStax (2019); US terms; pp. 54–81 · for registered students
  • Introduction to Business 2e, ch. 14.4–14.6: Balance sheet, income statement, cash flows · PDF · OpenStax (2026); pp. 484–491 · for registered students
  • The Future of Business Reporting: A Review Article · Open-access article · Beattie (2000), Irish Accounting Review. Reviews what annual reports and financial statements contain and what users want added; tutor level. · for registered students
  • Climate Change Related Risks and the Financial Statements of Small Businesses · Open-access article · Negash (2025), Small Business Institute Journal. Walks through how real risks show up in the balance sheet, income statement and cash flow statement. · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course plan
  • Week 1: What finance and accounting are for: branches of accounting…
  • Week 2: Rules and laws that shape finance and accounting
  • Week 3: How finance and accounting support business decisions
  • Week 4: Different financial statements and what each one shows
  • Week 5: Preparing financial statements for a sole trader
  • Week 6: Preparing financial statements for a partnership
  • Week 7: Adjustments to financial statements: accruals, prepayments …
  • Week 8: Midterm evaluation
  • Week 9: Adjustments to financial statements: depreciation and debt …
  • Week 10: Calculating financial ratios from a set of business accounts
  • Week 11: Comparing organisational performance using historical finan…
  • Week 12: Types of budget: operating, cash, fixed and master budgets
  • Week 13: Budgeting approaches: incremental, activity-based, value pr…
  • Week 14: Preparing different types of budgets
  • Week 15: Review and coursework completion
  • Week 16: Final evaluation and project assessment
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