Categories
Accounting

Budgeting & Reporting Assignment

Part A

When running a business a financial view on the company’s financial performance is a necessity not only for management but also stakeholders and other investors. A way that the company can provide a view inside their company’s finances is to have good accounting system that correctly calculates and budgets revenues, services, and expenses. There are several financial metrics that are used by accountants and managers to evaluate company’s performance. The Income Statement is a financial metric used in determining the profitability of a company during the period specified.