Investors use accounting information to determine whether an investment is a good fit for their portfolio and whether they should hold increase or decrease their investment. Financial accounting is used to report the outcome of business operations in monetary form to do this the accounting department uses financial accounting techniques to create an income statement the income statement is also called the profit and loss statement. Accounting information is used to prepare financial statements financial statements report on a companys position for a specific time period they show the companys ability to cover their long and short term debt their profit or losses and their ability to meet their monthly cash needs. Topics include discontinued operations extraordinary items changes in accounting methods and other comprehensive income important financial reporting ratios such as earnings per share price earnings ratio and book value per share are discussed ratio and trend analysis are presented as tools to understand financial statement information
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