Financial Statements
Free CFP Exam lesson in General Principles of Financial Planning. 13 min read, ~2,017 words.
Assets minus Liabilities equals Net Worth, the balance sheet is a snapshot, the cash flow statement is a movie. Asset mix matters as much as total net worth. 73% illiquid with $2.4M net worth is a liquidity problem. The 28/36 rule always uses gross income, never net, this is the...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- B.8
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