session 2 - Transaction Analysis Session 2 Review 4 Basic...

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Transaction Analysis Session 2
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Review - 4 Basic Financial Statements Balance Sheet (“Statement of Financial Position”) : Reports the financial position of an entity at a specific point in time Income Statement or Profit and Loss Statement (“Statement of Comprehensive Income”) : Reports the economic earning activities of an entity over a period of time Statement of Cash Flows : Reports the cash flows in and out of an entity, classified into operating, investing and financing activities Statement of Changes in Equity : Reports the owner-related transactions that result in changes in equity from one period to another
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