Financial statements are the primary means of communicating financial information to users. It is important to have a firm understanding of the income statement, balance sheet, and statement of cash flows. Managers will make decisions daily that will have effect on the elements of the accounting equation: Assets= Liabilities + Owners Equity. Managerial accounting reports use these same financial statements but also incorporate non-financial information that will assist internal users in making strategic and tactical decisions. For this reason, it is important for you to understand how decisions will affect the accounting equation.

Based on the information recorded in the balance sheet you completed in Submission lesson 1, in 2-3 pages, what non-financial information could be requested for managerial report to be used for internal decision making?

Assignment Details Financial statements are the primary means of communicating financial information to users. It is important to have a firmu Managers will make decisions daily that will have an effect on the elenents of the accounting equation: Assets Liabilities + but also incorporate non-financial information that will assist internal users in making strategic and tactical decisions. For thi accounting equation. The following spreadsheet is for Manhattan Family Dentistry on January 1 of the current year MANHATTAN FAMILY DENTISTRY Balance Sheet January 1, 20_ Assets Liabilities & Stockholders' Equity Cash Accounts receivable Land Building S 20,000 Liabilities 31,000 190,000 Accounts payable Total liabilitiesrrcacrareac Capital stock 225,000 Owners' equity 35,000 $501,000 Total liabilities and owners' equity Total assets. During the first few days of January, the following transactions occurred Jan 2Equipment was purchased for $38,000 on credit 2 The business collected $16,000 of its accounts receivable and paid $23,000 of its accounts payable 3 The business borrowed $60,000 from the bank, giving a note payable due in 90 days 3 Additional capital stock was issued in exchange for $27,000 cash Based on the information recorded in the balance sheet you completed in Submission Lesson - 1. in 2-3 pages, what non-finand decision making? Please submit your assignment. For assistance with your assignment, please use your text, Web resources, and all course materials