aTask 3 :
As already we know the accounting is a process of recording,analysing,summarising the transactions.After recording the transactions into accounts we go to analyze them.The process of analysing is actually calculating the ballances of accounts.The summarising process is a actually a conclusion of accountant work.It shows the financial statement.
Financial statements are one of the most importatnt statements for one company and are known two types of financial statement:income statement and statement of financial position.
The income statement shows all income and all outcome of one company and her profits or loses for a period.
The statement of financial positions shows all assets own from the company.liability and capital.
And the two statements give the position of the company and give important information for creditors,investitors and management of the company.The investors are interested and from the two statement,because they must know profitability to the company where they put money(income statement) and where there went the money(statement of financial position.The creditor will be most interest from the income statement to see the profitability to the company and if they give loan it Can be turn back.
For summarising for the two statement we can say that their signifiance is very important for the future of one company.The information provide in them is useful for creditors,investitors,workers and managers.Give a real possition of the company and help to management to take a correct decissions for future