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Questions to the text:

  • Who is interested in accounting information?

  • What are the main differences between financial and managerial accounting?

  • What financial statements are included in an annual report and when are they published?

  • What information can stockholders get from the balance sheet?

  • Why is it important to prepare the statement of a company’s cash flows?

  • What kind of information is represented in the income statement?

  • How can revenues and expenses be defined?

  • What statement shows the amount of a stockholder’s dividends?

  • Why is it necessary to prepare additional reports?

  • What statement contains debit and credit columns?