ACCT 212 Financial Accounting Week 1 Devry

ACCT 212 Financial Accounting Week 1 Devry


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Asked by 2 years ago
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ACCT 212 (Financial Accounting) Week 1 Devry

Week 1: Introduction to Financial Statements – Discussion

Financial Statements (Graded) One key concept for week 1 is that financial statements are comprised of 4 statements: 1) Income Statement, 2) Balance Sheet, 3) Cash Flows Statement, and 4) Statement of Retained Earnings.
External users of financial statements, such as investors or banks, review the financial statements to perform analysis on the company. For example, to determine if s/he wants to buy the stock of a company, the investor may review how much profit the company has generated during the past two years. Or, to determine if a bank should provide a loan to the company, the loan officer may review the company's cash balance from the previous two years.
Which financial statement do you believe provides the best information to determine if a company is performing well financially and/or is financially stable? Why?

ACCT 212
Cramster

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C
Answered by 2 years ago
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ACCT 212 Financial Accounting Week 1 Devry

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Excerpt from file: Week1:IntroductiontoFinancial StatementsDiscussion FinancialStatements(graded) Class, Onekeyconceptforweek1isthatfinancialstatementsarecomprisedof4statements:1)IncomeStatement,2) BalanceSheet,3)CashFlowsStatement,and4)StatementofRetainedEarnings.

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