TVM Principles of Management
CONVENTIONAL ACCOUNTANCY
FOCUS ON THE FINANCIAL DIMENSION
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Open L020-BR-BRIEFS
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SiteNav L0700-SN-07-TVM-MANAGEMENT
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Open L07-07-TVM-MANAGEMENT
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BEGINNING OF PERIOD (BOP) BALANCE SHEET
• This is the STATE of the reporting entity at the beginning of the period.
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PROFIT AND LOSS ACCOUNT
This is a report of the activities of the reporting entity for the period.
• There is a summary of revenues
• There is a summary of expenditures
• The profit is the amount revenues exceed expenditures
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END OF PERIOD (EOP) BALANCE SHEET
• This is the STATE of the reporting entity at the end of the period.
• Another way of computing profit is to calculate the amount the end of period balance sheet exceeds the beginning of period balance sheet.
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