Principle of accounting

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Business Finance

Description

Assignment 1: Discussion—Frequently used Financial Reports

By the due date assigned, respond to the following in the Discussion Area below:

As a small business owner in today’s economy:

  • What three financial reports would you use on a regular basis?
  • What information would you find on each statement?
  • What decisions might each statement help you make?

Please provide specific examples.

Be sure to cite any sources using APA style. You may use this APA Citation Helperas a guide.

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Explanation & Answer

Attached.

Running head: FINANCIAL REPORTS

1

Financial Reports
Institutional Affiliation
Date

FINANCIAL REPORTS

2

Introduction
A small business owner ought to consider the financial reports of the business as they act
as the lifeblood of the business. Through these financial reports, it is possible to have a proper
picture of the progress of the business and where it is heading to. In the following paragraphs, I
will reflect upon three financial reports I would use as a small business owner, the information
that each statement carries as well as the decision that each can help me to make.
Balance Sheet
The first financial report to utilize on a regular basis as a small business owner will be the
balance sheet. It is a tool that summarizes the total assets of the b...


Anonymous
Excellent resource! Really helped me get the gist of things.

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