When preparing company financial statements, why should they be
completed the order of income statement, then statement of owner's
equity, then balance sheet?

Question

When preparing company financial statements, why should they be 
completed the order of income statement, then statement of owner's 
equity, then balance sheet?

Answer

This was arbitrarily determined by FASB

Answer

Because the statements are interrelated and build on each other

Answer

Because each statement has more information than the previous one

Answer

So that all financial reporting can be consistent throughout the industry

Crowdly

When preparing company financial statements, why should they be completed the o...

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