Business Finance
ACCOUNTING QUESTION

Question Description

What is the main purpose and benefits of a financial statement worksheet? What order should you prepare the 4 financial statements?

Final Answer

Order of preparation:

1.income statement

2.statement of retained earnings

3.balance sheet

4.statement of cash flows.

The main purpose of a financial statement worksheet is to display in a table or chart, such as a spreadsheet, an easy reference for a company's finances.  This can help reduce accounting errors and mathematical errors when finalizing accounts.  Financial statements allow someone to get an overview of the company's finances, all in one neat and orderly place.


slh9642 (32)
Carnegie Mellon University

Anonymous
Top quality work from this tutor! I’ll be back!

Anonymous
Heard about Studypool for a while and finally tried it. Glad I did caus this was really helpful.

Anonymous
Thank you! Reasonably priced given the quality

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors