Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Share your comments and insights about this discussion post. As a small business owner in today's economy the three financial reports I would use on
Share your comments and insights about this discussion post.
As a small business owner in today's economy the three financial reports I would use on a daily basis would include a balance sheet, an income statement, and a cash flow statement. The balance sheet would tell me what my business is worth by including the businesses assets, liabilities, and equity. It could help me make decisions regarding the profits of my business. The income statement would tell me what I earned and what my expenses are to operate my business. This would allow me to make decisions to help my company run more efficiently. The cash flow statement would include records of the cash coming into and flowing out of my business as well as a summary of total cash available. This statement could help me decide to continue or stop certain services offered by my buisness.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started