Primary Task Response: Within the Discussion Board area, write 350â€“400 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions with your classmates. Be substantive and clear, and use examples to reinforce your ideas
Library Research Assignment
There are 4 primary financial statements used in financial statement analysis. They are the balance sheet (or statement of financial position), the income statement (or the statement of operations), the statement of changes in shareholders’ equity, and the statement of cash flows. For this activity, you should choose at least 2 of these statements and discuss the following:
- What is the purpose of this financial statement?
- What are its primary components, and what do they represent?
- Who are the primary users of this statement, and how is it generally used?
- What GAAP (Generally Accepted Accounting Principles) are employed in its construction?
- How does this financial statement relate to the other financial statements?
Use the Library and other resources to research financial statements. Be sure to document your statements with credible sources, in-text citations, and references using proper APA format.