HCA 312 Wk 3 DQ 1 - Financial statements are intertwined...

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Financial statements are intertwined with any business. According to our text “There are four basic financial statements. They include the balance sheet, the statement of revenue and expense, the statement of fund balance or net worth, and they statement of cash flow (Baker 2011). If I was to own my own business the information on my balance sheet would reflect how much my business is worth. I wouldbe able to see what assets and liabilities I had. It would also show me where the business is making the most money. The balance sheet provides valuable information which would help the business accumulate more money and customers. The statement of revenue and expense would present itself to be a very useful tool. I will be able to see how much money my business is bringing in and how much it costs to operate my business. When I have those two numbersI will calculate them in an equation then I will be able to see what type of profit the business is making. This will help me

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Term
Spring
Professor
N/A
Tags
Balance Sheet, Income Statement, Generally Accepted Accounting Principles

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