Fundamentals of Financial Management, Concise Edition
10th Edition
ISBN: 9781337911054
Author: Eugene F. Brigham, Joel F. Houston
Publisher: Cengage Learning US
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 1Q
Summary Introduction
To identify: The four financial statements contained in most annual reports.
Introduction:
Annual Report: A detailed report that presents a company’s activities during a particular period that is its accounting period is called annual report. It is used by the stockholders of the company and the general public to evaluate the company’s performance and financial position.
Expert Solution & Answer
Answer to Problem 1Q
The four financial statements contained in annual reports are
Explanation of Solution
- Balance sheet reports the total liabilities, total assets and total stockholders’ equity at a specified date that is the last day of accounting period for a company.
- Income statement reports the expenses and income of a company for the accounting period.
- Statement of cash flow reports the generated net amount of cash or consumed in the accounting period by a company.
- Statement of stockholders’ equity reports the opening and closing balance of stockholders’ equity with the changes incurred during that particular accounting period.
Conclusion
So, the four financial statements contained in annual reports are balance sheet, income statement, statement of cash flow and statement of stockholders’ equity.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
What four financial statements are typically included in the annual report?
What four financial statements appear in most annual reports?
What four types of financial statements does the annual reporttypically include?
Chapter 3 Solutions
Fundamentals of Financial Management, Concise Edition
Ch. 3 - Prob. 1QCh. 3 - Who are some of the basic users of financial...Ch. 3 - If a typical firm reports 20 million of retained...Ch. 3 - Explain the following statement: Although the...Ch. 3 - Prob. 5QCh. 3 - Prob. 6QCh. 3 - Prob. 7QCh. 3 - Prob. 8QCh. 3 - How are managements actions incorporated in EVA...Ch. 3 - Prob. 10Q
Ch. 3 - Prob. 11QCh. 3 - How does the deductibility of interest and...Ch. 3 - BALANCE SHEET The assets of Dallas Associates...Ch. 3 - INCOME STATEMENT Byron Books Inc. recently...Ch. 3 - Prob. 3PCh. 3 - Prob. 4PCh. 3 - Prob. 5PCh. 3 - MVA Over the years. Masterson Corporations...Ch. 3 - EVA Barton Industries has operating income for the...Ch. 3 - PERSONAL TAXES Susan and Stan Britton are a...Ch. 3 - Prob. 9PCh. 3 - STATEMENT OF STOCKHOLDERS EQUITY Electronics World...Ch. 3 - EVA For 2019, Gourmet Kitchen Products reported 22...Ch. 3 - Prob. 12PCh. 3 - Prob. 13PCh. 3 - Prob. 14PCh. 3 - INCOME STATEMENT Edmonds Industries is forecasting...Ch. 3 - Prob. 16PCh. 3 - Prob. 17PCh. 3 - PERSONAL TAXES Mary Jams is a single individual...Ch. 3 - Prob. 19SPCh. 3 - Prob. 20IC
Knowledge Booster
Similar questions
- What are the journal entries a-f and the effects on accounts receivable in the balance sheet for 2021?arrow_forwardAside from the time period, what is the primary distinction between annual financial reporting and interim financial reporting?arrow_forwardWhich sections of an annual report do IFRSs apply to?a) Management reportb) Financial statementsc) Entire annual reportd) Auditors reportarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Intermediate Financial Management (MindTap Course...FinanceISBN:9781337395083Author:Eugene F. Brigham, Phillip R. DavesPublisher:Cengage Learning
Intermediate Financial Management (MindTap Course...
Finance
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Cengage Learning