Devry ACCT 212 (Financial Accounting) Week 1;Week 1: Introduction to Financial Statements ? Discussion;Financial Statements (graded);One key concept for week 1 is that financial statements are comprised of 4 statements: 1) Income Statement, 2) Balance Sheet, 3) Cash Flows Statement, and 4) Statement of Retained Earnings.;External users of financial statements, such as investors or banks, review the financial statements to perform analysis on the company. For example, to determine if s/he wants to buy the stock of a company, the investor may review how much profit the company has generated during the past two years. Or, to determine if a bank should provide a loan to the company, the loan officer may review the company's cash balance from the previous two years.;Which financial statement do you believe provides the best information to determine if a company is performing well financially and/or is financially stable? Why?
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