Suppose a colleague of yours is gearing up to write a business plan for a business she

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Suppose a colleague of yours is gearing up to write a business plan for a business she intends to start. She told you she plans to prepare the financial statements first, to get that job out of the way before she tackles the rest of the plan. What is the flaw in your colleague’s logic as described to you?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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