Chapter 14 - Accounting and Finance Essay

This semester you have learned that financial statements are summative reports that report information obtained from the day-to-day bookkeeping activities of financial accountants or bookkeepers. Instructions: 1) From the list below, only select four and list them in the correct order (labeling 1-4) which statements must be prepared that also align with Generally Accepted Accounting Practices. 2) Provide a brief description of what each statement captures for the business. Fifty percent of your grade for this question is getting the order correct and the remaining fifty percent is your description.

• Statement of Cash Flows
• Income Statement
• The Balance Sheet
• Statement of Retained Earnings -also called the Statement of Owner's Equity
• Affidavit
• Plea Bargain Statement