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The balance sheet is the first report used by accounting. "The focus here is on the topic of equity, or the company's book value (assets minus liabilities)." (Morrison, 2006. P. 347). The income statement reports on the profit and losses of the organization for a period of time and the statement of cash flow reports an organization's cash flow as operating, investing and financing activities...
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The income statement reports on the profit and losses of the organization for a period of time and the statement of cash flow reports an organization's cash flow as operating, investing and financing activities.
Types of business decisions
The types of decisions made by managerial accounting are used to assist management to move the organization forward...
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