Posted by Stacy on .
Please give an example of how you would use each of the financial reports (income statements, balance sheets, CVP income statements, statement of cash flows, and retained earnings statements) in order to make a business decision.
Managerial Accounting -
Depending on the business decision.
First I would compare income versus outgoing costs verus any surplus -
Then I would use that to make my decision to say buy a business item or expand, downsize etc