1. Discuss the importance of each financial statement, including the balance sheet, income statement, and statement of cash flow. Explain if one of the statements is more important than another and why?
2. Why is it important to properly value a business’s assets and how does asset valuation impact the financial statements of an organization?
3. Research the cost of one asset that would be found in every healthcare organization and document in detail the costs of purchasing the asset and recording it in the organization’s financial statement. Cite your references.
4. Describe the purpose of the balance sheet.