An account is astandardizedformat used with the aid of companies to accumulate the dollar results of transactions on each monetary announcement item. Accounts are integral to keep music of all will increase and decreases in the critical accounting model.What are standardized monetary statements?The standardisedfinancialsencompass particular annual and meantime statements (including Income Statement, Balance Sheet, Cash Flow), key footnote records and at the beginning reported and restated financials.What is the widespread layout for monetary statement?According to theCorporateFinance Institute, the simple monetary declaration format for an earnings announcement states revenues first, followed by means of expenses. The expenses are subtracted from the revenue to calculate the net earnings of the business.Learn more aboutfinancial statementhere:brainly.com/question/16729652#SPJ4...

Unlock to view answer

Unlock full access for 72 hours, watch your grades skyrocket.

For just $0.99 cents, get access to the powerful quizwhiz chrome extension that automatically solves your homework using AI. Subscription renews at $5.99/week.