Why is it important to review headers of financial statement, Accounting Basics

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Why is it important to review headers of financial statement

Problem

Income statements outline the success of a company over a certain period of time. The Balance Sheet accurately assesses the Assets, Liabilities and Equity of a company at any given moment. (Wild et al., 2019)

Why is this distinction is significant? Why is it important to review the headers of the financial statements and what does this tell you about the numbers being reported?

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Accounting Basics: Why is it important to review headers of financial statement

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Accounting Basics: Why is it important to review headers of financial statement

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