Episode 89: Introduction to Financial Statements, Part 1
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The purpose of financial accounting is to provide information to external stakeholders. This information is largely meant to aid in determining the overall health of a company. A primary component of financial accounting is the production of what we refer to as financial statements. These include: the balance sheet, income statement, and the statement of cash flows.
This video is a is the first of a two-part series on financial statements. In addition to discussing the purpose of financial statements, I also provide an overview of the balance sheet.
