ACC 290 Paper

Financial Statement Paper

ACC/290

Financial Statement Paper

Finance statements are very important in the accounting world. Here are a few questions that will be answered, to help better understand accounting. What is a finance statement? How does it provide benefit to the internal users? How does it provide benefit to external investors and creditors? There are four basic financial statements that are used in everyday life. These statements are used on many different scales and many different levels of use. The four basic financial statement sheets that are widely used are (1) An income statement (2) A retained earnings statement (3) a balance sheet (4) A statement of cash flow.

An income statement shows the revenue a company made over a specific time period. Usually a...