Type of information financial accounting provides
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What type of information does financial accounting provide?
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The types of information financial accounting provides is analyzed.
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Financial accounting keeps track of a company's financial transactions. Using standards (like FASB, IASB, etc.); the transactions are recorded, consolidated, and finally presented in an annual report in the form of financial statements that include an income statement, a balance sheet, and a statement of cash flows.
Let's talk a bit more about those 3 statements that effectively constitute financial accounting purpose of existence. An Income Statement (also called a Statement of Operations ...
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