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- BALANCE SHEET
- INCOME STATEMENT
- STATEMENT OF STOCKHOLDER'S
- STATEMENT OF CASH FLOWS
Wiki User
∙ 11y ago
Wiki User
∙ 14y ago1 - Profit and loss account
2 - Balance Sheet
3 - Statement of cash flow
4 - Statement of changes in equity
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Define the purpose of accounting and identify the four basic financial statements?
The purpose of accounting is provide information to the users like investors ,financial institutions and to other clients. The four basic financial statements are balance sheet,income statement,cash flow,statement of retained earning.
What are the four basic financial statements?
The four major financial statements are:Income statementBalance sheetStatement of owner's equityCash-flow statement
What are the four financial statements explain their basic content and why it is important that the statements are prepared?
balance sheet,income statement,cash flow statement,retained earnings
What are the four primary accounting financial statements?
1 - Income statement 2 - Balance sheet 3 - Cash flow statement 4 - Statement of owners equity.
What elements comprise the FASB's conceptual framework?
The FASB's conceptual framework consists of the following four items:1. Objectives of financial reporting.2. Qualitative characteristics of accounting information.3. Elements of financial statements.4. Operating guidelines (assumptions, principles, and constraints).yayGT
What are the four major of accounts?
The basic function of Accounting includes the creation, maintaining, managing financial records ranging from business transactions and maintaining the process of creating wealth. Accounting facilitates in order to assess the financial position of a certain business at any particular time.
Are the basic four financial statements adequate for users of a firms financial data?
1. Balance Sheet 2. Income Statement 3. Cash Flow Statement 4. Statement of changes in equity
What comes first in the four financial statements?
its the income statement don't know why???
What are the four phases of accounting and define each?
Following are four phases of accounting:Recording - Recording in journalClassifying - Classifieng to ledgersSummarizing - Summarizing to financial statementsInterpreting - Financial ratios etc.
Who are the four non-management user groups those in need of information that is in the financial statements?
good
What are the four basic features of Quickbooks Accounting?
Lists, forms, registers, and reports and graphs
What is considred to be a personal finance statement?
A financial statement (or financial report) is a formal record of the financial activities of a business, person, or other entity. In British English-including United Kingdom company law-a financial statement is often referred to as an account, although the term financial statement is also used, particularly by accountants. For a business enterprise, all the relevant financial information, presented in a structured manner and in a form easy to understand, are called the financial statements. They typically include four basic financial statements, accompanied by a management discussion and analysis.
