Please, write a discussion post about the attached topic/Statement.(Around 250 words and include 1 or 2 citations.) Thanks

The financial statement analysis of the entity comprises of income statement, statement of owner’s equity, balance sheet and the statement of cash flow. However there are various items which is not included in the financial statement analysis and these items may be critical in evaluating the financial stability and health of the entity. These items are termed as the off balance sheet items which do not appear in the financial statement (C., Tiffany). Although these items are not recognized in balance sheet but they are still the assets and liabilities of the entity. For example-operating...