ACC220_WK5_CkPt_A_New_Co - periods in order to compare them...

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A New Company 1 A New Company Student Name Axia College – University of Phoenix ACC220
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A New Company 2 As a new accounting manager, I would expect to view the company’s Income, Balance Sheet, and Cash Flow Statements. These financial reports would be used as follows: Income Statement – This report is used to track profitability over a set period of time and basically lists the profits and losses of the company. Information in this report is required outside of the company as well as inside. Local, federal and state tax agencies require the information contained in a company Income Statement (outside), and department manager’s (internal) use the information to measure the company’s financial performance. Balance Sheet – A balance sheet should contain information from different time
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Unformatted text preview: periods in order to compare them financially. The balance sheet shows how much money a company has, how much it owes, and what is left for stockholders. Cash Flow Statement The cash flow statement present comprehensive data regarding all cash inflows received from ongoing operations and external investment sources. It also contains all cash outflows that pay for business activities during a given period. As the new accounting manager, after reviewing these reports and company standard operating procedures, I would schedule a meeting to familiarize myself with the jobs of others and where I should be in the bigger picture. ACC220...
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This note was uploaded on 04/09/2010 for the course ACC/220 ACC220 taught by Professor Mitzikent during the Summer '09 term at University of Phoenix.

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ACC220_WK5_CkPt_A_New_Co - periods in order to compare them...

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