Question: list and describe the four basic financial statements. Discuss the format, accounts included and purpose of each statement. Also, explain the accounting process - how

list and describe the four basic financial statements. Discuss the format, accounts included and purpose of each statement. Also, explain the accounting process - how are the numbers on the financial statements arrived at - where do the numbers come from? Why are the financials needed - how do corporate stakeholders benefit from the financial statements?

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