Describe the major purpose of financial statements

Reference no: EM133504650

Problem

It is important for non-financial managers to be able to identify financial statements and understand their purpose. For your initial response, you will need to discuss the following:

Question 1. Name the four basic financial statements.

a. Balance Sheet
b. The Statement of Revenue and expense
c. The Statement of Fund Balance or Net Worth
d. The Statement of Cash Flows

Question 2. Choose one of the four and evaluate its purpose for the organization, including its role in the budgeting process.

Question 3. Explain what type of information can be derived from each statement.

Question 4. Describe the major purpose of financial statements.

Reference no: EM133504650

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