Financial statements are the primary means of communicating financial information to users, It is important to have a firm understanding of the income statement balance sbeeb and statement of cash flows. Managers will make decisions daily that will have an effect on the elements of the accounting equation: Asse, Liabilities +Owners’ Equity. Managerial accounting reports use these same financial stater.. but also incorporate non.linancial information that will assist internal users in making stra …
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