Financial Statements ACC 290 Financial Statements There are four basic financial statements that businesses use to record their assets, liabilities, equity, revenue, and expenses. These financial statements are the income statement, balance sheet, statement of cash flow, and retained earnings statement (Kimmel, Weygandt, & Kieso, 2009). Each one of these statements serves its own purpose; the income statement show how successful a business has been during a period of time, it reports the business…
Words 654 - Pages 3