Re: Financial Statements for FS
Posted: Tue Oct 31, 2023 9:13 pm
Have just discovered this thread and have downloaded the files. I am currently playing about with them to see if I can get them to line up with FS22. However my excel skills are somewhat basic.
In answer to razmachaz_69's questions;
1 Shareholder equity and retained earnings are money owed by the farm to its owners and is therefore a liability and shown as a negative amount.
2 Initial capital value is 200k as that is what the property cost the farm to buy it. The cost values of the buildings on it will be zero and when valuing them at the end of the period, the full value will appear in the balance sheet as appreciation. For those who simulate tax this means a large hit for capital gains:(
In answer to razmachaz_69's questions;
1 Shareholder equity and retained earnings are money owed by the farm to its owners and is therefore a liability and shown as a negative amount.
2 Initial capital value is 200k as that is what the property cost the farm to buy it. The cost values of the buildings on it will be zero and when valuing them at the end of the period, the full value will appear in the balance sheet as appreciation. For those who simulate tax this means a large hit for capital gains:(