Identify and Give the Historical Significance of Each of the Following

question 74

Essay

Identify and give the historical significance of each of the following terms, events, and people in a paragraph or two.
-ERA

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Definitions:

Statement of Cash Flows

A financial statement that provides a detailed analysis of what happened to a company's cash during a period, categorizing cash flows into operating, investing, and financing activities.

Financing Activities

Transactions and events that affect the equity and long-term liabilities of a company, often reflected in the financing section of the cash flow statement.

Operating Activities

Activities that relate to a company's primary operations, including revenue and expense transactions that affect the net income.

U.S. GAAP

United States Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting.