Financial Statements - Financial Statements Pg 1 Financial Statements Bonnie Dominguez Accounting 220 Axia College University of Phoenix Financial

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Financial Statements Pg. 1 Financial Statements Bonnie Dominguez Accounting 220 Axia College University of Phoenix
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Financial Statements Pg. 2 The definition of Accounting can reference different sources. One definition is to provide an explanation or justification for. Another definition refers to a detailed reporting system of a financial state or transaction listing of a person or entity. Accounting is an art of analyzing financial records and studying its sales, purchases, and revenue. There are roughly four major reports used by Accountants. These are the Balance Sheet, Income Statement, Statement of Cash Flows, and Statement of Stockholders. One fascinating and major report Accountants use regularly is called a Balance Sheet. This sheet can also be referred to as the Statement of Financial Position. This sheet allows Accountants to review a company’s financial position at the end of a specific date. The balance sheets also helps creditors determine what a company owns (Assets) or owes
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This note was uploaded on 09/14/2010 for the course AXIA COLLE All taught by Professor Unk during the Spring '10 term at University of Phoenix.

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Financial Statements - Financial Statements Pg 1 Financial Statements Bonnie Dominguez Accounting 220 Axia College University of Phoenix Financial

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