Financial Statement Reading
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As an accounting manager reviewing the books of your organization, why is it important to understand how to read a financial statement? What are some possible problems that could occur if you could not read the financials of the company?
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The expert examines financial statement readings for managers reviewing the books.
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Financial statements are important because they can uncover problems as well as help identify corrective action. The most important financial statements toward this end are:
1. The balance sheet,
2. The profit and loss (or income statement) and
3. The cash-flow statement.
A balance sheet is nothing more than a list of the assets accumulated and liabilities incurred by the business. The ...
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