Financial Statement

fiscal Statements Paper The purpose of report cannister be defined as a method to going crossbreed of fiscal Statements and accounting support to a business or organization. report of a business can give an all(a) overview of the cash draw of a corporation and chink the pecuniary position. Through Financial Statements a ships beau monde can keep hold up over its assets. It can withal provide an acumen over the company or organizations monetary situation in a short term as well as a long term. A company can determine the outcomes of business operations and have control over the pecuniary position in which it stands. account avowal also permits the company to cod plans with the companies finance and the company can make any changes necessary. The Accounting Department is responsible for accounting records such as: accounts payable, accounts due, employee payroll, inventory, and some(prenominal) other financial basics. The accounts receivable re cords goods authentic and the accounts payable records the payments the company may owe. The goods received through accounts receivable be assets and the give through accounts payable be liabilities. The payroll pays the employees including all the advantages the company offers and the government demands.

The Accounting Department keeps path of the inventory in pose to keep in puzzle out the companys cash flow. There are iv basic financial statements used in accounting that are records of all the financial activities of a company, business, organization, person or entity. These quartet basic financi al statements are: equalizer Sheet, Income ! Statement, Statement of Stockholders or Owners Equity and Cash flow Statement. These statements are all related and it is very important to understand them for the benefit of the companies finance and assessment. For Balance Sheets there is the equation: assets equal liabilities, positivist shareholders equity. These assets are classified as trustworthy assets which are also called liquid because they...If you want to get a full essay, order it on our website: BestEssayCheap.com

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