Accounting is a process that: Reports the profit and loss a firm makes Reports the financial history of the firm Reports information to external users of the financial statements. Reports to the S.E.C. There are four basic financial statements required by GAAP. They are: Balance Sheet, Income Statement, Cash Flow Statement and a Trial Balance. Balance Sheet, Income Statement, Cash Flow Statement and a Work Sheet. Balance Sheet, Income Statement, Cash Flow Statement and a Statement of Change to Owners Equity. Balance Sheet, Income Statement, Cash Flow Statement and a Post Close Trial Balance. o o