Patton Fuller Financial Statements Essay Example for Free

Patton Fuller Financial Statements EssayFinancial lines hold a salient deal of information on them and there are many things to consider when reviewing them. A financial statement can be audited or unaudited which part in expense information. There are effects of tax sources to consider and businesses harbor a different revenue every year. They can either be clam up in dollar amount or could vary significantly. The financial goal to how much revenue a business wants to make should be set in order to plan and control for expenses that the business essential pay for in case of emergencies. Financial statements are very detailed and are well illuminating of the financial status of a business.Audited Versus UnauditedIn the Patton-Fuller revenue and expense statement report, the audited or unaudited financial statements vary in their particular expense information. A considerable reduction in the analysis of income is the fundamental procural of every doubtful account. The di stinct term refers to fixed number of accounts receivable that will eventually reverse bad debt or standardized as unvaluable funds. A statement furnished concerning all third society reports shall always demonstrate the distribution of doubtful accounts noteworthy as an expenditure (Baker Baker, 2011). Management of the doubtful accounts have a million dollar increase particularly on the audited statement report in proportion to the unaudited report. All the allotments in the calculated amounts vary within the net income and operating income from signifying a profit that doubtless shows a loss. An audited balance statement affirms an amount of one million dollars that is reduced in revenue same with the unaudited report on the present profit listed that relates to patient balance due.