Financial Statements Paper

| Financial line of reasonings Paper| Jennifer Cantrell| | University of Phoenix| 8/20/2012| | report is a function of business that allows companies to record, analyze, and review mo take inary teaching that is used to determine an organizations monetary standing. one(a) of the places to the success of an organizations finances is the financial relations. These ar a set of reports that companies and organizations use to monitor their financial situation. at that place be quaternary basic financial statements. They are the chemical equilibrium Sheet, the Income Statement, The retain Earnings Statement, and the Statement of interchange Flows. These statements are the key to the financial success of a community or organization. The four financial statements are the Balance Sheet, the Income Statement, The Retained Earnings Statement, and the Statement of Cash Flows. These statements are used in several opposite ways, by several different slew within the follow. individually statement has its purpose. The Balance flat inviolable is used to report a companys financial position. This means it reports the companys assets, liabilities and equities for a specified uttermost of time.

An example balance sheet should contain the organizations assets, (meaning all cash, inventory items, stead and equipment, and accounts receivable) its liabilities, (accounts payable and notes payable) and stockholders equity (retained recompense and contributed capital). The balance sheet totals these terce to give the company an nous of its basic financial standing. The under mentioned financial statement is the Income ! Statement. This statement reports performance of the company or organization. It shows the organizations revenue, expenses and net income. These items are placed in a simple comparison which looks similar to Revenue Expenses = clear Income. This basically shows a companys grow earnings, subtracts its be such as overhead, outgrowth costs and interest on any loans or lines of recognize to give the net income....If you deficiency to get a expert essay, order it on our website: OrderCustomPaper.com

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