Accounting Discussion Post
You are employed as an accountant for Innovative Computing. Your company is in the process of signing a large contract with an electronics components supplier. You have a friend who works for the electronics components supplier, and you are aware of the company having trouble paying bills. You ask to review the financial statements of the supplier.
• Would you report this to your employer before the purchase?
• What are the four basic financial statements? What is their purpose and what does each one tell you about a company?
• How are the four financial statements interrelated? Which line items are used to prepare other statements?
• In your opinion, explain which financial statement you think is the most important?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.