Section 1
Introducing Financial Statements
Book
Version 3
By Boundless
By Boundless
Boundless Finance
Finance
by Boundless
3 concepts
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Defining the Financial Statement
Financial statements report on a company's income, cash flow and equity.
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Uses of the Financial Statement
Financial statements are used to understand key facts about the performance and disposition of a business and may influence decisions.
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Limitations of Financial Statements
Financial statements can be limited by intentional manipulation, differences in accounting methods, and a sole focus on economic measures.