Financial Accounting Midterm Project
8 pages (2000 words)
The external users of financial accounting reports include the stockholders or owners of the enterprise, the creditors, government agencies, the suppliers and the general public. (Warren, Reeve, etc., 1987, pp. 2-4) The reports of financial accounting come in the form of financial statements - income statement, balance sheet, statement of retained earnings and statement of cash flows - that are prepared at fixed intervals (monthly, quarterly or annually).