ACC 225 Week 5 CheckPoint A New CompanyI would expect to see four financial reports in my accounting department to help make business decisions. The first is the balance sheet, which includes the company's assets, liabilities, and shareholder equity at a specific point in time. I would use this sheet to assess the overall financial standing of the company.The second is the income, or profit and loss, statement. This statement demonstrates the income, losses, and profits during a specific period of time. I would utilize it in conjunction with the balance sheet to get a bigger picture of the profitability of the company, as well as to help identify possible areas where savings could occur.
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