LWEO

chapter 5

chapter 5

The financial administration of an enterprise of your own

What are the things you need to know about the financial administration when you are an entrepreneur? You need to know what a balance sheet is, what items are stated in a balance sheet, why there is a debit side and a credit side. In addition, the profit and loss account is important. In the profit and loss account you can read what the revenues are, what the costs are and whether you have made a profit. In this chapter you learn how to draw up a balance sheet, you learn how financial transactions lead to changes in the balance sheet and how to draw up a profit and loss account. Finally, attention is paid to value added tax (VAT), which does not bring the enterprise any revenue but is not a cost item either.

links
Balance sheet and profit and loss account (www.jdjong.nl)
Turnover tax, including or excluding VAT (www.financieel.infonu.nl)

glossary

Glossary chapter 5


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extra exercises

Extra exercises (Word)