ACC 220 Week 5 CheckPoint A New Company

ACC 220 Week 5 CheckPoint A New Company -...

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ACC 225 Week 5 CheckPoint A New Company I 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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This note was uploaded on 01/24/2012 for the course ACC 220 ACC 220 taught by Professor Black during the Spring '11 term at University of Phoenix.

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