The Financial Accounting Information Model _ Financial statements are the end result of the accounting process and reflect what has been recorded by a company in its financial records.

a. What role do supporting documents have in the accounting process? Give an example of a supporting document.

b. Why are gains and losses on peripheral or incidental transactions and events reported separately from revenues and expenses? How does this assist the financial statement reader?

c. Why are changes in financial position resulting from operations and those resulting from transactions with owners reported separately? How does this assist the financial statement reader?