Accounting: Three Major Reports
Accountants use standardized definitions to organize accounts into
ways that are understood by accountants arround the world.


Balance Sheet: Created as a way for accountants
______ to check their math. Each side of the sheet is
______ equal (balances) unless there is a math error.

Income Statement: Illustrates the financial status of
______ an organization at a given point in time. Used
______ to calculate taxes.

Cash Flow Statement: Reports the difference between
______cash flowing in and cash flowing out.
_________________________________________________