Assignment: what to use, when to use it


Financial statements are important because they are the means by which financial managers track their organizational performance, identify problems, and make corrective action. The most important financial statements are the balance sheet, income statement, and the cash-flow statement. Ratio analysis is the means by which we use information contained within these three reporting mechanisms to understand the dynamic interrelationships and make decisions.

A balance sheet is nothing more than a list of the accumulated assets and liabilities. The income statement tells us, “How did we do?” and the cash-flow statement tells us where our money went. Although each financial statement is a separate reporting tool, keep in mind that they that they are all related. The changes in assets and liabilities that you see on the balance sheet are also reflected in income statement. Cash flows provide more information about cash assets listed on a balance sheet and are related to, but not exactly the same thing as, the net income found on the income statement.

No single financial statement tells the complete story. The information contained in all of these statements is important to know; however they do not by themselves give us a full picture of what is going on. We need to be able to look at each of these documents within the context of each of the other statements. Understanding the interactions and performance according to the financial statements provides us with a retrospective of what has happened in the past. We can then use that information to extrapolate what we believe will happen in the future. It allows us to forecast and (if we do a good job understanding all the variables at play) make changes to achieve the organizations strategic aims. History is only helpful to the degree it allows us to understand our future.

Having a good forecast in place will make it possible to check our actual performance against our plan (remember the variance analysis that you did last week). You should also be able to figure out what went wrong and how to correct any problems.


To complete this Application Assignment, write a 2 page paper that provides a detailed explanation of each of the following four documents commonly found in financial reports. Provide examples of how these documents would be utilized by a health care manager.

  1. Balance sheet
  2. Income statement
  3. Cash flow statement
  4. Ratio analysis

Your written assignments must follow APA guidelines. Be sure to support your work with specific citations

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Australia Assessments has gained an international reputation of being the leading website in custom assignment writing services. Once you give us the instructions of your paper through the order form, we will complete the rest.


Essay Writing Services

As we work towards providing the best custom assignment services, our company provides assignment services for any type of academic essay. We will help you develop professionally written essays that are rich in content and free from plagiarism.


Admission and Business Papers

Our skilled team of professional writers will ensure that we help you craft a remarkable admission essay for your desired Master's program in your institution of choice. We won't stop there. Once you enter the job market, we will be available to secure you a position at your desired worksite by creating an outstanding portfolio or resume.


Editing and Proofreading

Our editorial team is always available for all editing and proofreading services. They check completed papers by our writers and also provide professional opinions to papers completed by our clients.


Technical papers

We harbor professional academic writers with different qualifications in diverse academic fields. As such, we are capable of handling both simple and technical papers. Ensure that you provide us with correct and complete instructions in the order form.