쉐도잉 연습: FINANCIAL STATEMENTS: all the basics in 8 MINS! - 영상으로 영어 말하기 배우기
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Hello and welcome Hello and welcome back to Accounting Stuff.
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I'm James and today we're talking financial statements.
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the income statement, the balance sheet and the cash flow statement.
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I'm going to try and explain all the basics in under eight minutes, which is going to be a challenge because We have a little puppy here who's trying to bite my finger.
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So let's get started.
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What are financial statements?
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Financial statements are reports that summarize the activities and financial performance of a business.
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They're prepared at the end of each accounting period
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and they're designed to give investors and lenders a feel for a business's financial health.
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The three main financial statements are the balance sheet,
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each of these work with an example.
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Tea -licious is a family -run business that produces a popular blend of black tea.
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Their financial year has come to a close and they've finished putting together their financial statements.
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So let's look at them.
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We'll start with the balance sheet.
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What is a balance sheet?
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The balance sheet is a financial statement that gives us a snapshot of a business's in time.
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The balance sheet is also called the statement of financial position and it looks like this.
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In the header we have the business's name followed by the name of the financial statement.
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And directly below that, we have the point in time that we're looking at.
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A snapshot of December 31st. On the left hand side of the balance sheet, we have a list of everything the business owns.
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It's assets.
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And on the right we have everything the business owes.
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its liabilities and equity.
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Tealicious owes liabilities to third parties like its suppliers, its employees and the tax office.
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But it also owes equity back to the owners of the business.
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This includes their original capital contributions, which is the cash the owners injected into the business.
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and retained earnings, which are the cumulative profits that the business has held onto.
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If we collapse the balance sheet down into its core components, then we can see that Tealicious has total equity of $129 .5 million.
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What does this mean?
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Well, if the business were to suddenly sell off all of its assets and pay off all of its debts, then in theory this is how much money the owners would get.
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At the bottom of the balance sheet,
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Tealicious has total assets of $169 million and total liabilities and equity of $169 million.
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The stuff it owns is equal to the stuff it owes.
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So the balance sheet is in balance.
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which is fantastic news because a balance sheet always has to balance.
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Why?
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Because it says so in the accounting equation.
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Assets shall always equal liabilities plus equity.
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Or the stuff that a business owns is equal to the stuff that a business owns.
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What is an income statement?
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An income statement is a financial statement that summarizes a business's revenues and expenses over a period of time.
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statement is more like a video or a boomerang covering a range of time.
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The income statement looks like this: As you can see in the header the income statement covers a period of time
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The year ended December 31st. and in the body of the report we have a summary of revenue earned and expenses incurred.
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If we collapse it then we find that the income statement is really showing us three things: Firstly,
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Tealicious made $255 million in revenue, which is their top -line income that it earned from selling products during the year.
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Secondly, it incurred $248 million in expenses.
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This includes the direct and indirect costs of running the business.
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And finally, when we subtract expenses from revenue, we see that Tealicious generated $7 million in net profit on the bottom line.
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Profitability is key to the income statement, which is why it's also called the statement of profit and loss.
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It tells us how much profit the business earned over a period of time.
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But be careful here because profit doesn't necessarily translate to cash flow, which is why businesses also need a cash flow statement.
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What is a cash flow statement?
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over a period of time.
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Businesses need to make a cash flow statement if they are using accrual accounting.
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You see, there are two methods of accounting.
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We have the cash method and the accrual method.
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The cash method of accounting is often used by smaller businesses.
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It says that revenue is recognized when cash is received and expenses are recorded when cash is paid out.
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Under the cash method, the income statement and the cash flow statement are equivalent to one another.
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If cash comes in, we record revenue.
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And if cash goes out, we record an expense.
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It's nice and simple, but it has its limitations.
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What if Tealicious makes a large sale, but the customer doesn't pay the invoice until the following accounting period?
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Their revenue could be understated in the period that they made the sale
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and overstated in the following period when they received the cash.
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There has to be a better way.
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And thankfully there is.
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The accrual method says that we should recognize revenue as it's earned
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and record expenses as they are incurred when the substance of the transaction takes place.
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This means that cash inflows and outflows aren't equivalent to revenues and expenses.
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They need to be tracked separately in the cash flow statement.
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A cash flow statement looks like this: In the header we have the period of time that it relates to,
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just like we had in the income statement and in the body we have two main sections
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At the bottom we have the opening and closing cash balances for the financial year.
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We get these numbers from the balance sheet.
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Tealicious started out with 11 million dollars and finished up with 12 million dollars.
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So overall, that's a net increase in cash of $1 million.
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But how did this come about?
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This is where the top section comes in.
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We work out the cash flow from operating activities, investing activities and financing activities.
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Cash flow from operating activities covers regular business activities.
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How much cash Tealicious brought in and spent whilst selling tea?
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Tealicious is using the direct method so this section mirrors an income statement prepared under the cash method of accounting.
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Cash flow from investing activities looks outside of the core operations of the business.
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These are the cash inflows and outflows from investments and buying or selling property and equipment.
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Cash flow from financing activities is all about funding the business either through loans from banks
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or equity from the owners of the business.
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If we collapse this all down, then the net cash flow on the top should match up with the net cash flow on the bottom.
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It does here, which means the cash flow statement is reconciled.
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Let's do a quick recap.
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The balance sheet gives us a snapshot of a business's assets, liabilities and equity at a single point in time.
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It shows us what a business owns and what it owes.
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It also tells us how much the business is worth to its owners.
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And then we have the income statement, which shows us a business's revenues and expenses over a period of time.
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When we take the difference, we can see if it made a profit or a loss.
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The cash flow statement reveals a business's cash inflows and outflows over a period of time.
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These are reconciled back to the movement in cash in the balance sheet.
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I've made videos and cheat sheets covering each of these financial statements.
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You can find links to all of that down in the description and a big thanks to all my channel members.
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You know who you are and I appreciate your support.
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Thank you from both of us, this is Winnie by the way, and we'll see you in the next one.
왜 이 비디오로 말하기 연습을 해야 할까요?
이 비디오에서는 재무제표의 기본 개념을 소개합니다. 재무제표는 기업의 활동과 재무 성과를 요약한 보고서로, 투자자와 대출자에게 기업의 재정 건강을 전달하는 중요한 자료입니다. 영어 쉐도잉을 통해 이러한 전문 용어와 표현을 익히면, 재무 관리 혹은 회계와 관련된 분야에서 자신감을 가지고 영어로 대화할 수 있게 됩니다. 또한, IELTS 스피킹 시험과 같은 상황에서 금융적인 주제로 질문을 받을 때 유용합니다.
문법 및 맥락 속 표현
- What are financial statements? - 이 질문은 전문가처럼 금융의 기초를 이해하고 있음을 드러냅니다.
- It shows us what a business owns and what it owes. - 소유와 채무를 설명하며, 동사 'shows'와 관계대명사 'what'을 활용한 문장 구조를 보여줍니다.
- If we collapse this all down... - 이와 같은 조건문 구조는 복잡한 내용을 간결하게 설명하는 데 유용합니다.
- Cash inflows and outflows - 재무 관련 용어를 사용하여 자본 흐름을 명확하게 전달하는 방식입니다.
일반적인 발음 함정
- financial statements - 이 표현은 빠르게 말할 때 발음하기 어려울 수 있으므로 주의가 필요합니다.
- liabilities - 자주 사용되는 이 용어는 특히 'liability' 부분에서 발음할 때 강조가 중요합니다.
- equity - 'eq' 부분의 발음이 잘못될 수 있으며, 유의해서 연습해야 합니다.
이러한 발음 연습은 shadowing site와 shadow speech 연습을 통해 더욱 개선될 수 있습니다. shadowspeaks와 같은 다양한 자원을 활용하여 발음을 교정하면, 실제 대화에서 자신감을 가지고 말할 수 있을 것입니다.
쉐도잉이란? 영어 실력을 빠르게 키우는 과학적 방법
쉐도잉(Shadowing)은 원래 전문 통역사 훈련을 위해 개발된 언어 학습 기법으로, 다언어 학자인 Dr. Alexander Arguelles에 의해 대중화된 방법입니다. 핵심 원리는 간단하지만 매우 강력합니다: 원어민의 영어를 들으면서 1~2초의 짧은 지연으로 즉시 소리 내어 따라 말하는 것——마치 '그림자(shadow)'처럼 화자를 따라가는 것입니다. 문법 공부나 수동적인 청취와 달리, 쉐도잉은 뇌와 입 근육이 동시에 실시간으로 영어를 처리하고 재현하도록 훈련합니다. 연구에 따르면 이 방법은 발음 정확도, 억양, 리듬, 연음, 청취력, 말하기 유창성을 크게 향상시킵니다. IELTS 스피킹 준비와 자연스러운 영어 소통을 원하는 분들에게 특히 효과적입니다.