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Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1124 |
Essay's paper body
published financial reports would meet.
Who are the users?
Assume you are a creditor or potential investor, think of questions that you might have that could be answered using the information from financial reports…
Creditor is concerned with getting paid the money they are owed. They would ask can the business afford to repay them?
3 Main Financial Statements
There are 3 main financial statements
Income Statement
It reports the performance of the entity’s operations over a period of time...
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They would ask can the business afford to repay them?
3 Main Financial Statements
There are 3 main financial statements
Income Statement
It reports the performance of the entity’s operations over a period of time. It summarises the revenues and expenses for the period and shows profit or loss.
Balance Sheet
It shows the relationship between the assets (economic resources) and equities (claims on the assets) of the entity at a particular date i...
Essay fragment
General points of the essay
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discuss the role of the financial accounting and managerial accounting functions in organizations
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What Do Users Of Financial Reports Want
The statement of financial performance is based on data relating to past transactions and events. Hence the statement of financial performance is of no use to an investor’s decision making process.
APOLLO 13- QUESTIONS ABOUT THE MOVIE ANSWERED
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