BuyFind

Fundamentals of Financial Manageme...

14th Edition
Eugene F. Brigham + 1 other
Publisher: Cengage Learning
ISBN: 9781285867977
BuyFind

Fundamentals of Financial Manageme...

14th Edition
Eugene F. Brigham + 1 other
Publisher: Cengage Learning
ISBN: 9781285867977

Solutions

Chapter
Section
Chapter 3, Problem 1Q
Textbook Problem

What four financial statements are contained in most annual reports?

Expert Solution
Summary Introduction

To identify: The four financial statements contained in most annual reports.

Introduction:

Annual Report: A detailed report that presents a company’s activities during a particular period that is its accounting period is called annual report. It is used by the stockholders of the company and the general public to evaluate the company’s performance and financial position.

Answer to Problem 1Q

The four financial statements contained in annual reports are balance sheet, income statement, statement of cash flow and statement of stockholders’ equity.

Explanation of Solution

  • Balance sheet reports the total liabilities, total assets and total stockholders’ equity at a specified date that is the last day of accounting period for a company.
  • Income statement reports the expenses and income of a company for the accounting period.
  • Statement of cash flow reports the generated net amount of cash or consumed in the accounting period by a company.
  • Statement of stockholders’ equity reports the opening and closing balance of stockholders’ equity with the changes incurred during that particular accounting period.
Conclusion

So, the four financial statements contained in annual reports are balance sheet, income statement, statement of cash flow and statement of stockholders’ equity.

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