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About NUS ACC1002X Lecture 1 Financial Accounting
Financial accounting collects and processes a firm's economic activities and reports them through financial statements to external users. The key financial statements are the balance sheet, income statement, statement of cash flows, and statement of retained earnings. The balance sheet reports assets, liabilities, and owners' equity at a point in time. The income statement reports revenues and expenses over a period of time. The statement of cash flows reports cash inflows and outflows. The statement of retained earnings shows the changes in retained earnings. Together these statements provide important information about a firm's performance and financial position.
Detailed Information
| Author: | ['chestervale1'] |
|---|---|
| Publication Year: | 2013 |
| Pages: | 23 |
| Language: | English |
| Format: | |
| Price: | FREE |
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