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This paper discusses each of the following terms, expands on the definition, and explains why the concept is important to financial statements. The terms include Generally Accepted Accounting Principles (GAAP), Historical Cost, Accrual Basis vs. Cash Basis Accounting, and Current Assets and Liabilities vs. Non-Current Items. The paper locates the balance sheet, income statement, and statement of cash flows for Ford, Exxon-Mobil, and Microsoft. The paper examines whether net income or cash from operating activities is more useful for each of these companies.
Cite this Analytical Essay:
Accounting (2005, June 06) Retrieved June 20, 2019, from https://www.academon.com/analytical-essay/accounting-59186/
"Accounting" 06 June 2005. Web. 20 June. 2019. <https://www.academon.com/analytical-essay/accounting-59186/>