Information Contained in the Financial Statements of a Company Is

question 30

True/False

Information contained in the financial statements of a company is of use to both internal and external users.

---

Definitions:

Income Statements

Financial reports that show a company's revenues, expenses, and net income or loss over a specific period of time.

Chief Financial Officer

The senior executive responsible for managing the financial actions of a company, including tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions.

Controller

The manager of the accounting function of a vertical (business unit).

Managerial Accounting

The practice of analyzing, interpreting, and communicating financial information to managers for the purpose of business decision-making.