How does FOB Shipping Point differ from FOB Destination?

Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Harlan Mining Co. for 2015 and 2014 are provided below.   BALANCE SHEETS                                                12/31/15                         12/31/14 Cash                                      $306,000                      $144,000 Accounts receivable               270,000                         162,000 Inventory                                 288,000                         360,000 PPE                  $456,000                          $720,000 Less: acc. dep.(240,000)      216,000      (228,000)   492,000                                            $1,080,000                      $1,158,000   Accounts payable                 $ 132,000                       $  72,000 Income taxes payable             264,000                         294,000 Bonds payable…

Make logical comparison between financial accounting with other fields of accounting ?

What is the objective of financial reporting? How do general-purpose financial statements help meet this objective? Can I get examples to please to help me keep things straight...