The Balance Sheet, The Income Statement, and The Statement of Cash Flows

Based on your research and what you have learned so far:

Describe the focus and content areas of each of the three reports.

Explain how the data in the three reports are related.

Compare and contrast the three reports in order to determine their relative values as support tools for decision$-$making.

Identify at least two different types of actions that managers might take based on the data contained in each of the reports. Explain why these types of actions should be based on the information in the respective report.