Discussion—Understanding Financial Statements

In this assignment, you will explore the financial management terms that will be used throughout the course and will help with personal and professional decision making.

Tasks:

• Please explain in which order the four major financial statements need to be prepared, and why.
• Please explain the three major categories of the statement of cash flows and under which category the following item belongs. Also explain whether or not the item would be considered a source or use of cash for the period in question:

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