Question: Describe the importance of accounting analysis for financial analysis
Describe the importance of accounting analysis for financial analysis.
Answer to relevant QuestionsDescribe financial statement analysis and identify its objectives. Identify at least seven additional sources of financial reporting information (beyond financial statements) that are useful for analysis.What is a necessary condition for usefulness of a ratio of financial numbers? Explain.What are the main differences between credit analysis and equity analysis? How do these impact the financial statement information that is important for each type of analysis?Express the following income statement information in common-size percents and assess whether this company’s situation is favorable orunfavorable.
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