purpose of this financial statement, business and finance homework help

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Discussion Board

Primary Task Response: Within the
Discussion Board area, write 350–400 words that respond to the following
questions with your thoughts, ideas, and comments. This will be the foundation
for future discussions with your classmates. Be substantive and clear, and use
examples to reinforce your ideas

Library Research Assignment 

There are 4 primary financial statements used in financial
statement analysis. They are the balance sheet (or statement of financial
position), the income statement (or the statement of operations), the statement
of changes in shareholders’ equity, and the statement of cash flows. For this
activity, you should choose at least 2 of these statements and discuss the
following:

  • What
    is the purpose of this financial statement?
  • What
    are its primary components, and what do they represent?
  • Who
    are the primary users of this statement, and how is it generally used?
  • What
    GAAP (Generally Accepted Accounting Principles) are employed in its
    construction?
  • How
    does this financial statement relate to the other financial statements?

Use the Library and other resources to research financial
statements. Be sure to document your statements with credible sources, in-text
citations, and references using proper APA format.