Would you report this to your employer before the purchase


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 double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Accounting Basics: Would you report this to your employer before the purchase
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