The financial statements Financial statements are the primary source of a compan

Question

The financial statements Financial statements are the primary source of a company's accounting information. Open each financial statement for more information, and decide which statement would work best for each of the given scenarios. Types of Financial Statements Income statement Statement of stockholders' equity Balance sheet Statement of cash flows Financial Desired Action Statement 1. Compare revenues with expenses and analyze profitability 2. Analyze how much cash was spent on investing activities. Compare stockholders' equity at the beginning of the period with stockholders' equity at the end of the period. 3. 4. See a snapshot of a company's financial position at a given point in time.

Explanation / Answer

Income statement is the financial report which shows a company's income and expenses.

Balance sheet is the financial report which shows the financial position of a company

Cash flow statements is a financial statement that shows flows of cash and cash equivalents

Statement of Stockholders equity is the statement which shows the capital and reserves

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Desired Action Financial Statement Compare Revenues with Expenses and Analyze profitability Income Statement Analyze how much cash was spent on investing activities Statement of cash flows Compare stockholders equity at the beginning of the period with stockholders equity at the end of the period Statement of stockholders equity See a snapshot of a company’s financial position at a given point in time Balance Sheet

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