Week 4 - It is important for non-financial managers to be able

Week 4

It is important for non-financial managers to be able to identify financial statements and understand their purpose. For your initial response, you will need to discuss the following:

· Name the four basic financial statements.

· Balance Sheet

· The Statement of Revenue and expense

· The Statement of Fund Balance or Net Worth

· The Statement of Cash Flows

· Choose one of the four and evaluate its purpose for the organization, including its role in the budgeting process.

· Explain what type of information can be derived from each statement.

· Describe the major purpose of financial statements.