Types of Financial Statements
By the end of this chapter, you should be able to:
• Identify the four key financial statements.
• Describe what each type of financial statement presents to the reader.
• Identify the major components of each type of financial statement.
• State the basic accounting equation.
• State the formula for the statement of retained earnings.
• List the things to look for in the notes to the financial statements.
Chapter 2 will familiarize you with the four key financial statements: the balance sheet, the income statement, the statement of retained earnings, and the statement of ...