Instructions Review several of your classmates posts. Respond to at least two classmates who have each selected a different statement, and share any additional ways a manager might use that type of statement to drive financial decisions in a corporation.

Please help with response development on the below post.

When it comes to finances, it is very beneficial for any organization if all involved have clear understanding when it comes to financial principles, so when applicable they will be able to apply their financial analysis when it comes to making decisions that would be in best interest for the company. Its important to management, that the person working with the financial statements that they know how to read balance sheet, income statements, and statement cash flows in order to help increase the value of the company (Kent A. Hickman, 2013). The one I chose to elaborate more on that would explain how a manager would use the statement drive financial analysis when put in the position to make a decision would be the income statement, because it shows a companys revenues and profits over a period of time, usually way up to a year or a quarter (Kent A. Hickman, 2013). Managers review income statements to review revenues or sales for a certain period. Income statements will show how a companys costs are incurred in order to make the sales. The costs that are listed first on the statements are considered to be the direct costs associated with the sales, for example like the cost materials and manufacturing labor. The most important thing to remember when reviewing and accounting statement is that the calculations are not set in stone and can be modified if it will give the reader a better sense of understanding of a companys financial performance and position (Kent A. Hickman, 2013).