Term
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Definition
| The primary focus is on the information needs of investors and creditors. |
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Term
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Definition
| deals with the concepts and methods used to provide information to an organization's internal users |
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Term
| Financial statements most frequently provided |
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Definition
1. the balance sheet or statement of financial position
2. income statement or statement of operations
3. the statement of cash flows
4. the statement of shareholder's equity |
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Term
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Definition
| refer to the process of providing information to external users |
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Term
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Definition
| provide a mechanism to help our economy allocate resources efficiently |
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Term
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Definition
| acquire capital from investors in exchange for ownership interest and from creditors by borrowing |
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