• Select a tool that is essential to the analysis of an organization's financial status and explain it in detail.
• Using this tool as a template, application of it in an imaginary organization. Examples include, but are not limited to, balance sheets, operating statements, statements of changes in net assets, statements of cash flows, total assets, liabilities, and owners' equities.
• Explain the example tool in detail. One option is to use generally accepted accounting principles (GAAP) to highlight various sections of the tool. Another option might be to provide a detailed explanation of fund accounting, highlighting various sections of the example. Be sure that the tool matches the explanatory methods used.