What do you find interesting about each of the four financial statements, which include balance sheets, income statements, statements of cash flows, and statements of owners’ equity?
Accounting is often called the “language of business”. Why do you think accounting is called the language of business?
Why are the financial statements important to internal users such as employees, managers and directors of a company?
If you are an investor in a company, which statement do you look at first and why?
How do accountants and accounting help to connect to the numbers? What tools are used to accomplish this?
The income statement is ongoing meaning that it measures a company’s performance over time, (1 month, 3 months, a year): What are some questions that are answered by the income statement?