Discussion topic

Financial statements are prepared using which basis of accounting and why? Explain.

Financial statements are prepared using which basis of accounting and why? Explain.

by Mahedi Hasan -
Number of replies: 0

Financial statements are written records that convey the business activities and the financial performance of a company. Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes. Financial statements include the

  • Balance sheet
  • Income statement
  • Owner's equity  statement