Financial Statements - FINANCIAL STATEMENTS 1 Financial...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
FINANCIAL STATEMENTS 1 Financial Statements 8/31/2011 Ty Harman ACC 220 Heath Braby Financial Statements Companies need to incorporate way to see how much money they are bringing in and how much is going out. To accomplish this companies have accountants who use statements such as balance sheets, income statements, liabilities and stock holder’s equity. These statements are necessary to be able to run a successful business.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
FINANCIAL STATEMENTS 2 As a company grows you develop assets which are resources that are owned by the business. This becomes very important to a business because you need to have enough assets to be able to support financial backing if needed for your company that way you can expand and continue to grow. To keep track of the assets values you will use a balance sheet which is a report that is used for a specific time. Every company has to have a merchandise that they sell or “product” so another way to analyze your company would be the use of an income statement. An
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/18/2011 for the course ACCOUNTING 225 taught by Professor Mattwilliams during the Spring '11 term at University of Phoenix.

Page1 / 3

Financial Statements - FINANCIAL STATEMENTS 1 Financial...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online