ACC 561 Analyzing the Four Financial Statements
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ACC 561 Analyzing the Four Financial Statements
ACC 561
Analyzing the Four Financial Statements
In the study of accounting there are four different types of financial statements. These financial statements have an important role in the daily functions of many businesses and corporations. Accounting is defined as "the information system that identifies, records, and communicates the economic events of an organization to interested users" (John Wiley & Sons, 2012). The financial statements when working with finances include Balance Sheet, Income Statement, the statement of cash flows, and the statement of owner's equity. This paper will explain the four financial statements, along with which statement is a best fit to creditors, investors, and management.
The financial statement that...