Accounting capstone Assignment Delivery Length XXXXXXXXXX Just before you came on board, several new, junior accountants had been hired to start in the financial accounting area, as well as a senior...

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Accounting capstone Assignment Delivery Length 300-350 Just before you came on board, several new, junior accountants had been hired to start in the financial accounting area, as well as a senior financial accounting analyst. To get the junior accountants off on the right foot, you planned to have a breakfast meeting with them to discuss a number of financial accounting basics. Describe the 4 financial statements they will be preparing at the end of each period and what each one tells the managers and other stakeholders.


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Accounting capstone Assignment Delivery Length 300-350 Just before you came on board, several new, junior accountants had been hired to start in the financial accounting area, as well as a senior financial accounting analyst. To get the junior accountants off on the right foot, you planned to have a breakfast meeting with them to discuss a number of financial accounting basics. Describe the 4 financial statements they will be preparing at the end of each period and what each one tells the managers and other stakeholders. Explain at least 1 weaknesses inherent in using each of the following 3 statements to assess the company's health: income statement balance sheet cash flow statement The following grading criteria will apply to this assignment: Grading Criteria 40% Describe the 4 financial statements they will be preparing at the end of each period and what each one tells the managers and other stakeholders. 40% Explain at least 1 weaknesses inherent in using each of the following 3 statements to assess the company's health: income statement balance sheet cash flow statement Please Provide All references in APA format



Answered Same DayDec 23, 2021

Answer To: Accounting capstone Assignment Delivery Length XXXXXXXXXX Just before you came on board, several...

Robert answered on Dec 23 2021
125 Votes
Financial Statements
The four financial statements that the junior accountants will make each peri
od are: the income
statement, the balance sheet, cash flow statement and the statement of owners’ equity.
Income Statement can be defined as the measure of the company’s financial performance over a
given period of time. The financial performance for any company is evaluated by comparing the
revenues and expenses from the operating and non-operating activities. It represents the net
income or loss earned or incurred during the given accounting period which is generally a
quarter or a year. It can also be called as the profit and loss statement or statement of revenue and
expense.
Weakness: the income statement is prepared on the accrual basis of accounting. This means that
the expenses will be shown in the income statement as soon as they become due but...
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