Review this tutoriai on How to Post to the Discussion Board. Assignment Details There are three...

 

Transcribed Image Text:

Review this tutoriai on How to Post to the Discussion Board. Assignment Details There are three basic accounting statements, as follows: • Profit and Loss Statement Balance sheet Statement of cash flows Each statement provides valuable data for users of financial information. Imagine that you are operating the small business that you opened in the previous unit. • Which of the three basic accounting statements do you feel would the most important in your day-to-day operations? Why do you feel this accounting statement is the most important? Read through your peers' posts, and when you respond to them, consider the following: • List some additional advantages and disadvantages to the accounting statement your peer selected. • Discuss why you agree or disagree with the rationale that your peers gave for their selected accounting statement. Review this tutoriai on How to Post to the Discussion Board. Assignment Details There are three basic accounting statements, as follows: • Profit and Loss Statement Balance sheet Statement of cash flows Each statement provides valuable data for users of financial information. Imagine that you are operating the small business that you opened in the previous unit. • Which of the three basic accounting statements do you feel would the most important in your day-to-day operations? Why do you feel this accounting statement is the most important? Read through your peers' posts, and when you respond to them, consider the following: • List some additional advantages and disadvantages to the accounting statement your peer selected. • Discuss why you agree or disagree with the rationale that your peers gave for their selected accounting statement.

Answer rating: 100% (QA)

Answers 1 Important Accounting Statement in day to day operations Statement of cash Flows is the most important accounting statement in our daytoday operations It is a useful indicator of a firms stab... View the full answer