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Essay

Four Basic Financial Statements

Essay specific features

 

Issue:

Business

 

Written by:

Heather G

 

Date added:

October 15, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 561

 

Was viewed:

1425 times

 

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Essay content:

The Income Statement uses the matching concept, which means the expenses are matched with the revenue generated in the same time period as the expenses. If the fees earned are greater than the operating expenses, then the company has generated a net profit. If the expenses are greater than the fees earned, then the company has a net loss...
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If the expenses are greater than the fees earned, then the company has a net loss. The Retained Earnings shows the changes in the retained earnings. The Balance Sheet displays the company's assets, liabilities and the owner's equity. The equation for the balance sheet to equal (balance) is asset = liabilities + OE...
displayed 300 characters

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