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Evaluating Financial Statements
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Submitted by kevinleigh333 on September 25, 2007
- Category: Business
- Words: 790
- Pages: 4
- Views: 314
- Popularity Rank: 599
Evaluating Financial Statements
One of the responsibilities of most managers or business owners is to evaluate the data being captured and reported by accountants. In order to perform this function correctly however, a manager or owner must first understand how to properly interpret this data and in turn use it to evaluate the success or failure of the company’s operations. This data comes in three basic forms: The income statement, the balance sheet, and the statement of cash flows.
The income statement is the most basic of three financial statements. The main purpose of the income statement is to measure the profitability of a company over the course of a specified time. The gross profit is determined by...
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