For this assignment, I contacted my uncle, Jeff Watson, who is a financial analyst for a software company and is also a new owner of a small real estate business named Hemlock Homes. For this assignment, I got insight as to how he uses accounting information as a small business owner.
In his daily job, Mr. Watson uses income statements, balance sheets, and cash flow reports in order to evaluate the progress of his company. When looking at these financial statements, he is able to regulate factors concerning the finances of his company. Financial statements help Mr. Watson observe how his company allocates its money to determine how to cut costs and maximize profits on sales.
For the work that Mr. Watson performs, accounting records are critical
In his daily job, Mr. Watson uses income statements, balance sheets, and cash flow reports in order to evaluate the progress of his company. When looking at these financial statements, he is able to regulate factors concerning the finances of his company. Financial statements help Mr. Watson observe how his company allocates its money to determine how to cut costs and maximize profits on sales.
For the work that Mr. Watson performs, accounting records are critical