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Week 1: Financial Statements

Week 1: Financial Statements

Q Describe the four financial statements. Discuss the purpose of each financial statement and how one financial statement is related to the other.

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There are four financial statements. 1. Income Statement (aka Statement of Earnings, P&L) 2. Statement of Retained Earnings. 3. Balance Sheet (aka Statement of Financial Position) 4. Statement of Cash Flows.