Describe the 4 financial statements they will be preparing at the end of

Just before you came on board, several new, junior accountants had been hired to start in the financial accounting area, as well as a senior financial accounting analyst. To get the junior accountants off on the right foot, you planned to have a breakfast meeting with them to discuss a number of financial accounting basics.Describe the 4 financial statements they will be preparing at the end of each period and what each one tells the managers and other stakeholders.Explain at least 1 weaknesses inherent in using each of the following 3 statements to assess the company’s health:income statementbalance sheetcash flow statementGrading CriteriaPost explains issues, elaborates on all parts of the topic, and contributes to group understanding of topic.Multiple substantive responses reflecting participation are evenly spread throughout the discussion period – 2 or more per week – sharing opinions, observations, and experiences, asking questions and making suggestions.Comments are appropriately addressed, well written, timely, relevant and coherent displaying accurate spelling, grammar, and punctuation.Total40%40%20%100%0-320-320-1680Describe the 4 financial statements they will be preparing at the end of each period and what each one tells the managers and other stakeholders.1616• Explain at least 1 weaknesses inherent in using each of the following 3 statements to assess the company’s health: • income statement• balance sheet• cash flow statement1616Multiple substantive responses reflecting participation3232Well written, timely, relevant and coherent displaying accurate spelling, grammar, and punctuation.1616