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Why the four financial statements all are critical

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Question

Explain in your own words why the four financial statements (balance sheet, income statement, statement of owners' equity, and statement of cash flows) all are critical for accountants and nonaccountants to understand. Provide an example to illustrate how the information might be used differently by accountants and nonaccountants.

Include discussion on the value of these statements when analyzing a company to assess both the financial and the nonfinancial information. In replies to peers, discuss whether you agree or disagree with their ideas and the examples provided, and justify your response using the topic materials.

Reference no: EM132405379

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