In Preparing Financial Statement, the Order of Preparation Is Important

question 45

Essay

In preparing financial statement, the order of preparation is important to ensure accuracy and reduce duplicate work. Put the financial statements below in the order you would prepare them.
Statement of cash flows
Statement of comprehensive income
Statement of financial position
Statement of retained earnings

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Definitions:

Lewin's Change Model

A framework for understanding organizational change involving three steps: unfreezing, change, and refreezing.

New Norms

The emergence of updated or redefined standards of behavior and beliefs within a society or group.

Lewin's Change Model

A framework for understanding change process through the stages of unfreezing, changing, and refreezing.

Organizational Climate

The emotional weather within an organization that reflects the norms and attitudes of the organization’s culture and affects worker morale, attitudes, stress levels, and communication.