Question: LP4.1 Written Assignment: Financial Report Information
This assignment will assess the competency.
Analyze the basics of accounting and financial statement interpretation.
Directions: In a minimum of 2-3 full pages answer the questions provided below.
• Please answer the questions in a double-spaced word document.
• Remember to cite references.
1. Define the difference between financial and managerial accounting.
2. Describe the components of a balance sheet.
3. Describe how financial report information can be used by a manager.
4. Outline the major sources of revenue and expenses of a medical group.