Question

State what do you understand by accounting reports.

Answer 1

Answer:

the solution of your question is given

Answer 2

Accounting reports contains the financial information that are obtained from the accounting records of a business.

Explanation:

• Accounting reports are the tools which gives insight into one’s business.

• They are equal to financial statements.

• Accounting reports are the complied records of financial reports of a business.

• The basic accounting reports include balance sheets,  Shareholder’s equity, cash flow and income statements.

• It gives the financial status of a company.

• It mainly deals with the sources and uses of cash in relation to investment, operations, etc.,

• It acts as a backbone for the company\/ business.

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