Financial Statements

Financial Statements ACC/280 Financial Statements Paper news report is an important parting to each organization. It communicates the fiscal state of any organization. Accounting has tercet canonical activities: identify, record, and communicate. There be four basic financial statements which ar holdful to managers, investors, creditors, and employees. These four basic financial statements be strike and consist of: income statement, contain cyberspace statement, balance sheet, and statement of win over flows. Accounting is an information system using three rudiments activities which are identify, record, and communicate scotch events to interested users. Companies identify stinting events relevant to its business. Financial activities are recorded systematically in a chronological order of events to provide history. Recording in addition impart classify and summarize economic events. The bookkeeping melt is included in the recording of economic events. Accounting reports are then communicated to interested internal and external users by doer of financial statements. Internal interested users are individuals inwardly the troupe who plan, organize and run the business. These users can be comprised of finance directors, trade managers, human resources, or management.

External interested users are comprised of individuals outdoors the corporation. Two most common of external users are investors and creditors. Investors will use this information to decide whether to buy, hold, or give stock. Creditors use this information to evaluate the risks associated with granting credit or impart c urrency to the organization. An income stat! ement some successions referred to as the statement of operations, earnings statement, or profit and loss statement presents the revenues and expenses and resulting gelt income or net loss of a company for a limited hitch of time (Weygandt, 2008). Retained earnings statement reports changes in retained earnings for a specific period of time which...If you loss to get a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay