It has been said that operating managers focus primarily on the income statement while financial managers focus primarily on the balance sheet. And some say the cash flow statement is the most important of these financial statements. Which is more important the income statement, blance sheet or cash flow statement and why?Do you think one is more important than the others? If so, which one and why? On the other end of the spectrum, do you feel that all are equally important or somewhere in between? Explain.

Income statement, Balance sheet and cash flows statement are very important financial statements…

Answered: It has been said that operating…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

It has been said that operating managers focus primarily on the income statement while financial managers focus primarily on the balance sheet. And some say the cash flow statement is the most important of these financial statements.

Which is more important the income statement, blance sheet or cash flow statement and why?
Do you think one is more important than the others? If so, which one and why?
On the other end of the spectrum, do you feel that all are equally important or somewhere in between? Explain.

Expert Solution