Accounting: Overview for Small Business Owners
January 29, 2007
Accounting: Overview for Small Business Owners
The opportunity to present information to small business owners with no accounting or finance knowledge certainly presents an immediate challenge. The material included herein will identify the audiences, purposes and natures of financial statements and managerial reports. In addition to this, the scope of the paper will explain the use of financial accounting information in making informed and ethical business decisions.
Financial Statements
"Accounting is sometimes said to be the language of finance because it provides financial data through income statements, balance sheets, and the statement of cash flows" (Block & Hirt, 2005). Financial statements are at their most basic level a summary of the monetary position of any organization. The most common financial statements include the income statement, the balance sheet, and the statement of cash flows......
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Approximate Word Count: 1280
Approximate Pages: 5 (260 words per double-spaced page) |