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CheckPoint ACC 225 - CheckPoint Financial Statements...

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CheckPoint: Financial Statements • Resource: Fundamental Accounting Principles, Ch. 1 • Due Date: Day 5 [post to the Assignment Link] • Consider that you have been asked to explain financial statements to someone who knows nothing about accounting. • Review the information on financial statements in Ch. 1 of Fundamental Accounting Principles. • Discuss, in 200-300 words, each of the four financial statements. Explain the different components of the statements as well as what the statements tell about a business. CheckPoint 25/points Points Earned xx/25 Length &Mechanics 5/points Points Earned xx/5 200-300 words in length 1.5 Sentences are complete, clear, and concise. Spelling is correct. Sentences are well constructed, with consistently strong, varied sentences. 3.5 Additional Comments: Identify four financial statements 4/points Points Earned xx/4 ·Identify four financial statements(4 points) Income Statement Statement of Owner’s equity Balance Sheet Statement of Cash flows 4
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