The Structure and Interrelationship of Financial Statements


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The Structure and Interrelationship of Financial Statements
1010202The Structure and Interrelationship of Financial StatementsEvery corporation has, from the moment it is formed, an indefinite life under the law. The corporate laws of every state grant the right to perpetual existence to a corporation in order to enable management to take strategic actions that will have long-term impact on the company's survival and growth. These include the ability to make long-term contracts, the ability to issue certificates of ownership (stock) that don't expire, and so on.As many have learned over the years, however, that is really only a legal definition. In reality, most companies follow a pattern of birth, rapid growth, slowing growth, pl…
Citation
Gene Siciliano, C.M.C., C.P.A.: Finance for Non-Financial Managers. The Structure and Interrelationship of Financial Statements, Chapter (McGraw-Hill Professional, 2003), AccessEngineering Export