Lecture Financial Accounting (15/e) - Chapter 2: Basic Financial Statements

Lecture Financial Accounting (15/e) - Chapter 2: Basic Financial Statements. After completing this unit, you should be able to: Explain the nature and general purpose of financial statements; explain certain accounting principles that are important for an understanding of financial statements and how professional judgment by accountants may affect the application of those principles; explain how the statement of financial position, often referred to as the balance sheet, is an expansion of the basic accounting equation;...