Financial Statements

Financial Statements Kargonn D. W wholeace, Student/Author, University of Phoenix ACC/220 October 28, 2012 Christina Vaughn, MAcc, Faculty Financial Statements I am presenting to you a brief explanation of the accounts generated in a subscriber line, the types of discipline you leave behind access from them, and the ends the discipline leave put up a business owner to nock. I break chosen this rate so that one can make the decision to be able to start a company. lets first gear get an understanding of what keep up is; it is the process of identifying, recording, and communicating the frugal events of a business to interested users of the information; internal and foreign users for example. This explanation is anchor in the glossary of our textbook, (p.31). Kimmel, P., Weygandt, J., & Kieso, D. (2003). Essentials of accounting: Tools for busin ess decision making (2nd Ed.). Hoboken, NJ: Wiley. The balance tabloid contains the assets, Liabilities and the businessholders equity. The assets listed on a typical balance sheet channelise all of a companys revenue; such as Cash, accounts receivable, supplies, and equipment.

as well as a balance sheet will contain this information at a period in time (October 31, 2012). The Liabilities that are on the balance sheet would be for the same closing date and include notes collectible, accounts payable, interest payable, honorary revenue and salaries payable which is equal to your hit liabilities. Your shareowners equity, common stock and retained compensation equa ls your stockholders equity. In Sum, centre! liabilities plus the stockholders equity is equal to the total assets. The first statement to be considered in any forward-looking financial transaction would be the income statement. This statement has the most consequential role. Its function is to allow the viewer the actual total income by taking all of your revenue minus all of your expenses to equal...If you require to get a full essay, order it on our website: OrderEssay.net

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