The income statement shows the profit or loss of a

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a company’s assets, liabilities, and owner’s equity. The income statement shows the profit or loss of a company at a particular period because it reflects the amount of money that came into the company as revenue and how much was spent on expenses. In essence, it show the operational efficiency of the company. The cash flow statement shows how much cash came into the company and how much cash went out of the company. I can clearly see that each of the financial statements provides important information, but without reviewing all three financial statements, individual information from these reports can be misleading. Out of curiosity, I wanted to know why Wendy and Penny both chose to leave industries that clearly paid more than what the state paid for their profession. Wendy and Penny both stated that while they made more in industry and public accounting, more satisfaction was derived as being instructors. Both Wendy and Penny expressed that they loved working with students and that being able to share what they have learned in the industry gives greater pleasure. As both 3
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INTERVIEW AND REFLECTION were not traditional students, they feel that they can relate to most of their student population. Seeing the “aha” moment as the light turns on for their students is described as priceless! In taking the financial decision making course, I have learned that financial ratio has advantages and some limitations. One important advantage is that financial ratio highlights important information in a simpler form quickly. While ratio can simplify financial statements, one must also be aware that there are limitations too. Because different companies may use
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Christopher Reinemann
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