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.
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...