Please explain why these concepts are important to financial statements
(a) Generally accepted accounting principles
(b) Current assets and liabilities VS non current items
Refer to the two sets of financial statements (annual reports )
(a) SONY (b) GOOGLE
then locate the following for each statement
1. balance work sheet 2. the income statement 3. statement of cash flow
Which is more useful in your opinion for each of the 2 companies ? net income or cash from operating activities?