Chapter 12
Getting a Financial Report Ready
In This Chapter
Keeping up-to-date on accounting and financial reporting standards
Assuring that disclosure is adequate and reasonably transparent
Nudging the numbers to make profit and solvency look better
Contrasting financial reports of public and private companies
Dealing with information-overload financial reports
Scrutinizing the statement of changes in owners’ equity
In Chapters 4, 5, and 6, I explain fundamentals of the three primary financial statements of a business. To review briefly:
Income statement: Summarizes sales revenue and other income (if any) and expenses and losses (if any) for the period. It ends with the bottom-line profit for the period, which most commonly is called net income or net earnings. (Inside a business ...
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