ACC 290 WEEK 1

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ACC 290 WEEK 1

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ACC 290, 2016

ACC 290 WEEK 1

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Week 1 DQ1

What are the four basic financial statements? What is the primary purpose of each of the four basic financial statements? In your opinion, which financial statement is the most important? Explain why.

Week 1 DQ2

How would the financial statements be useful to managers and employees? How would the financial statements be useful to investors and creditors?

DQ3

What are debits and credits? How are debits and credits used to record business transactions? Why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?

ACC 290 Week 1 Individual Assignment Financial Statements Paper

Prepare a 700 -1,050 word paper in which you identify the four basic financial statements. Describe the purpose of each of the four financial statements. Discuss how the financial statements would be useful to internal users, such as to managers and employees. Discuss how the financial statements would be useful to external users, such as investors and creditors. Format paper according to APA standards.

Week 1 summary attached as well

PRODUCT DESCRIPTION

ACC 290 Week 1,

DQ1-

The four basic financial statements are income, retained earnings, balance, and statement of cash flows. Financial statements provide a means for the business to judge the results of their operational or financial performance over a period of time. Income statements provide investors and the business a description of how profitable the business is performing within a specific period in time. Retained earnings are income that is left in the company (reinvested) that was not distributed to the stockholders. This statement explains why the

DQ2-

Financial statements alert investors of the risk that is involved in investing in the company. The information from these reports also allow investors to judge what type of return they will receive on their investment and it also helps them to determine whether to hold, buy, or sell. Creditors are concerned with any statistical financial information that helps them to determine the financial stability of the organization and whether the business will repay the loan…..

ACC 290 WEEK 1

 

ART 101 , Test Banks , BUS 401 , ECE 313 , BUS 325, BUS 210 , BUS 250, BUS 303, BUS 402, BUS 201 , BA 215, BUS 230, BUS 211, BUS 307, BUS 235, BUS 308, BUS 475, BUS 415 

 , BUS 610, BUS 620, BUS 405, BUS 642, MATH 221, BUS 600, BSA 500, BUS 310 , BIO 101 , ECO 100, BUS 370, BIO 100, BUS 226, BUS 640, BUS 630, PSY 101, BUS 372, BUS 680, BUS 501, ECE 311, BUS 311,

ACC 290 WEEK 1

 

 

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