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Topic: Business
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

Civil War Questions Answered Book reports Bankruptcy and Debtor-Creditor Relations business reports DISCUSSION OF ACCOUNTING TERMS AND REPORTS Debtor Creditor Relationships Article Review discuss the role of the financial accounting and managerial accounting functions in organizations Financial Reports How would International Financial Reporting Standards affect the quality of Canadian accounting information? The Differences Between Financial Accounting And Management Accounting Users of Accounting information 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 Reports checkpoint

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