Fundamentals of Accounting – Module III – Financial Statements

This module explains the basics of Financial statements as follows:

Financial Statements are Summary-level reports about an organization’s financial results, financial position and cash flows. Useful for:
Determining the ability of a business to generate cash, and the sources and uses of that cash.
Determining whether a business has the capability to pay back its debts.
Tracking financial results on a trend line to spot any profitability issues.
Investigating the details of certain business transactions.

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