How to Identify the 4 Types of Financial Statements Utilized by BB&T

All four financial statements are located in BB&T's annual report.

BB&T Corporation is one of the nation's top banks with more than 1,800 financial centers primarily in the Southeast and the Midwest. The bank is headquartered in Winston-Salem, N.C., and boasts assets of $157 billion. The subsidiaries of BB&T are organized as a group of financial communities. Founded in 1989, the bank has acquired more than 63 community banks, 95 insurance agencies and 37 other non-bank companies. The financial holding company reports on the entire organization in the company's annual report. Within this report you will find four different types of financial statements including, the balance sheet, the income statement, the statement of changes in shareholders' equity and the cash flow statement.

Instructions

1. Obtain the annual report. The annual report can usually be downloaded from the company's website. You can also request one by contacting the company's customer service line at [phone].

2. Look for the balance sheet. The balance sheet is the first financial statement BB&T publishes in the annual report. It is a consolidated balance sheet and the title of the statement reads, "BB&T Corporation and Subsidiaries Consolidated Balance Sheets." The balance sheet will also have its date listed on the top of the page. It provides an overview of the holding company's assets and liabilities.

3. Turn to the income statement in the annual report. The income statement provides an overview of how the company earns its income. It comes just after the balance sheet and has the title, "BB&T Corporation and Subsidiaries Consolidated Statements of Income" followed by the years covered within the statement.

4. Identify the statement of equity. The statement of equity comes directly after the income statement and provides an overview of the company's common stock position. The title of BB&T's statement of equity is, "BB&T Corporation and Subsidiaries Consolidated Statements of Changes in Shareholders' Equity."

5. Turn to the statement of cash flows. BB&T's statement of cash flows covers three different years and is titled, "BB&T Corporation and Subsidiaries Consolidated Statements of Cash Flows." The cash flow statement provides an overview of the sources and uses of funds.

References

• BB&T: 2009 Form 10k
• BB&T: Company Information