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Dear LOR user,

Thank you for being a big part of this community. To better support the initiatives around open educational resources in the state of Michigan, all resources on the Michigan Virtual Learning Object Repository (LOR) are being moved to #GoOpen Michigan on September 30th, 2018. During the transition, our LOR will be moved to an archived state, not allowing new user registration or new content to be added. An email with more details was sent to registered users of the LOR in September. To make use of the great resources on the platform, we encourage you to create an account and add your own new resources to the #GoOpen Michigan platform.

Financial Statements


In this lesson students will learn about Income Statements, Balance Sheets, Cash Flow Statements, and Statements of Equity

Learning Targets: 
Describe the type of accounts that are in an Income Statement, Balance Sheet, Cash Flow Statement, and Statement of Equity
Describe why a company creates financial statements
Compute net income
Balance the accounting equation in a Balance Sheet.
PDF icon Financial Statements.pdf76.73 KB
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Creative Commons Licence