Financial accounting involves identifying, measuring, recording, and communicating in dollar terms the economic events and status of an organization. This is typically done through the use of 3 financial statements. These 3 statements are used to summarize the organization's financial status and performance. This is key to the survival of most healthcare organizations today. We have to know how much money we made and how much we spent. List the 3 financial statements used in financial accounting. Discuss the importance of these financial statements. Why do we use these? Who are the users of this information? Discuss how a healthcare manager might use each one. In your opinion, do you feel that one is more important than another? Why or why not? What would happen if we didn't have these types of tools?