Accounting Financial Statements Discussion

The accounting process generates financial reports that are used by both ‘internal’ and ‘external’ users. Provide an example of how an internal user and an external user would use each of the four financial statements. Name the financial statement, one internal user and what they would use that financial statement for, and one external user and what they would use that financial statement for.

PROFESSOR’S GUIDANCE FOR THIS WEEK’S LE:

Identify the four financial statements that are produced in a company. Each financial statement provides a different viewpoint of the health of the company. For each financial statement, there are internal users and external users that find value in the information. How might these individuals use the results from these financial statements in making decisions about the company?

1. Please make sure that you read the relevant chapter from the textbook

2. Watch the YouTube videos for this week and additional course material provided. You can also find other videos on YouTube that can help guide you.

3. Ensure that you can communicate your point of view clearly and without ambiguity. Provide one example to strengthen your point of view in the main discussion.