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ACC201 WORKSHOP ONE DROPBOX 1.4 Financial Statements Handout

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ACC 201 WORKSHOP ONE DROPBOX 1.4 Financial Statements Handout

Indiana Wesleyan University

1. Which of the financial statements prepared by a managerial accountant are more detailed and who are the main users of those types of statements?

2. What are the three types of businesses described in the video that would have different types of financial statements?

3. Which type of business income statement would not include a cost of goods sold?

4. What two types of businesses would have the more complicated, multi-step income statements?

5. What two things would a managerial accountant need to do to prepare accurate and meaningful financial statements in a manufacturing company?

6. What type of company would require a schedule of cost of goods manufactured?

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