Define Economic

May 20th, 2015
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Acadia University
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Budget deficit, Inflation & exchange rate depreciation.

Word Count: 80
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Basic Financial Statements Balance Sheet Snapshot.Estimates the firms worth on a given date;built on the accounting equation:Assets = Liabilities + Owners Equity Income Statement Moving picture.Compares the firms expenses against itsrevenue over a period of timeto show its net income (or loss):Net Income = Sales Revenue - Expenses Statement of Cash Flows Shows the change in the firm's working capital overa period of time by listing the sources and uses of funds.

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