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Topic: Quarter Balance Sheet and Income Statemen (

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Snake_Pliskin
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Joined: 09 Feb 2011
Location: United States
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Posts: 59

Posted: 27 Jul 2011 at 19:34 \| IP Logged

Can someone explain to me the difference between a Quarter and a regular I/S / B/S. I know it is supposed to cover a 3 month period correct?

If you are wanting a Balance Sheet for Q2, would that be the same as the balance at June 30th?

Also if you were wanting the Quarter 2 income Statement, wouldn't that just be April May June's Net Income combined?

Thanks I really appreciate the help.

Mike

doyaknow
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Joined: 04 Aug 2011
Online Status: Offline
Posts: 2

Posted: 04 Aug 2011 at 20:30 \| IP Logged

Regular financials like the I/S and B/S usually cover an
entire fiscal year. So the Q2 B/S would show the balance as
of June 30th and the I/S would show April-June 30's results
for just the three months. Some companies will show the I/S
for both the quarter and YTD (from beginning of the fiscal
year to Q2). Hope this helps! If you look at a companies's
10-K online, you can see more of what a quarterly statement
covers.

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