Basic Fundamnetals

In: Business and Management

Submitted By mguzman22
Words 781
Pages 4
Basic Fundamentals of Financial Statements
Miguel A Guzman
Acc/ 290
April 25, 2012
Steve Jarvis

The Four Financial Statements Nobody denies having the four primary financial statements for your business could provide personal data to others, outside sources being interested in the nature of business for opportunities to invest or to be audited from an internal or external position. Following this further the balance statements provides overview or a snapshot of the business financial stability where the overall position there in with competitors. Proficiency regarding your balance sheet will provide a better overview with the income statement. Net income, revenue and expenses provide the summary of the operating system during a period of time. Additionally two other statements come to effect the cash flow statement will introduce how the company evaluates the process to pay bills, sources of cash. At last the statement of changes presents the owners of the company, information towards stock, time shares, and earnings.
As a business banker with Citibank we determine if the company standard meet the requirements to conduct their business with our bank. We provide the highest level of professionalism to promote the companies projection to conduct their business. A business must set all functions to manage the environment. Enabling the overall performance, these are a few examples planning is to analyze all situations, organizing assembles appropriate resources; leading is to motivate people and controlling monitor all work. The performance will be rewarding for all employees, management including investors. First statement in business provides the outcome or financial position at any given point. Accountants have created an equation that illustrates the following Assets = Liabilities + Equity, assets include all currency the note receivables,…...

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