4 Financial Statements

Just before you came on board, several new, junior accountants had been hired to start in the financial accounting area, as well as a senior financial accounting analyst. To get the junior accountants off on the right foot, you planned to have a breakfast meeting with them to discuss a number of financial accounting basics.

Describe the 4 financial statements they will be preparing at the end of each period and what each one tells the managers and other stakeholders.
Explain at least 1 weakness inherent in using each of the following 3 statements to assess the company's health:
income statement
balance sheet
cash flow statement
In your own words, please post a response to the Discussion Board and comment on other postings. You will be graded on the quality of your postings.
 
The following grading criteria will apply to this assignment:
Grading Criteria

40%

Describe the 4 financial statements they will be preparing at the end of each period and what each one tells the managers and other stakeholders.

40%

Explain at least 1 weaknesses inherent in using each of the following 3 statements to assess the company's health:

income statement
balance sheet
cash flow statement
20%

Post a response to the Discussion Board and comment on other postings

For assistance with your assignment, please use your text, Web resources, and all course materials.

Unit Materials

Unit 3